Singapore University of Technology and Design (SUTD) has launched Baby Shark Micro-innovation Fund. Affectionately called the “Baby Shark Fund”, the micro-innovation1 programme aims to bolster the university’s strong commitment to student-led innovation, design-thinking and risk-taking.
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It will complement the existing funding options that are already available to students who wish to pursue more advanced innovation projects which culminate in the formation of start-up companies. The programme, which got its name from the award-winning reality television series “Shark Tank”, will encourage students to incubate new ideas, innovate through design and have the courage to venture into uncharted grounds beyond the classroom.
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SUTD President Chong Tow Chong explained: “Practically everyone is a micro-innovator. If you have ever created a better way of organising digital files in your office, you have already succeeded in micro-innovation. With the new Baby Shark Fund, we hope to provide every student with the opportunity to engage in bottom-up innovation by experimenting continuously. This will hopefully spur them to embark on a lifelong innovation journey of continuous experimentation and risk-taking, and in so doing, champion and lead innovation for society in years to come.”
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To qualify for the funds, SUTD students in either the undergraduate or masters programmes must form teams of at least two members and present their ideas and projects to a panel comprising faculty as well as industry. The projects will be evaluated based on the level of innovation and their potential to impact the world. There will be multiple submission windows throughout the year for students to submit their applications, ensuring that teams are given ample opportunities to seek funding for their projects.
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The Baby Shark Fund will be administered by the SUTD Venture, Innovation and Entrepreneurship Office, which has been facilitating entrepreneurial efforts within the university. Project mentors will be appointed to each team, which will also receive venture support and resources as they progress in their innovation journey.
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SUTD’s Student Government Vice President, Mr Xie Jiacheng, is delighted with the news: “In our courses, we sometimes strike gold with our project ideas, and see potential as a real business. The Baby Shark Fund would enable us to earnestly pursue the critical first few months of development without fear of failure.”
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About Singapore University of Technology and Design (SUTD)
The Singapore University of Technology and Design (SUTD) is Singapore’s fourth public university and one of the first universities in the world to incorporate the art and science of design and technology into a multi-disciplinary curriculum.
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SUTD was established in collaboration with the Massachusetts Institute of Technology (MIT) and seeks to advance knowledge and nurture technically-grounded leaders and innovators to serve societal needs.
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