Singapore-based programme to support Southeast Asia innovators and drive the commercialisation of deep-tech climate technologies
SINGAPORE, April 15, 2024 /PRNewswire/ — Breakthrough Energy (BE), the climate organisation founded by Bill Gates; Temasek, a global investment company headquartered in Singapore; and Enterprise Singapore (EnterpriseSG), the government agency championing enterprise growth, have today signed a Memorandum of Understanding to establish Breakthrough Energy Fellows – Southeast Asia (“BE Fellows – SEA”) with a joint funding commitment over the next three years. The programme will be helmed out of Singapore and marks the first BE Fellows hub outside of the United States.
Announced at Ecosperity Week 2024[1], BE Fellows – SEA will be the first regional hub in BE’s existing signature global Fellows programme. It aims to tackle early-stage barriers to climate technology innovation in Southeast Asia and accelerate the development of climate technologies that have the potential to significantly reduce greenhouse gases at scale and contribute towards global net-zero targets.
The partnership will leverage the pioneering climate technology platform established by Breakthrough Energy, Temasek’s thought leadership, expertise and networks as a global investor anchored in Asia, and Enterprise Singapore’s commitment to drive startup development and nurture deep tech startups in Singapore and the region. The complementary combination of the strengths and capabilities of the partners will enable the creation of a strategic and novel programme that can help address the critical innovation gap in the development of deep-tech climate technologies here in Southeast Asia.
BE Fellows – SEA will provide researchers, scientists, engineers and technology innovators in the region with funding and support to help take their promising climate solutions to the next stage of development and commercialisation. Through the programme, each participating Fellow’s research will receive an initial USD$500,000 grant for further development and technology de-risking. They will also gain access to a global network of industry partners, mentors, investors and experts, as they develop, demonstrate and commercialise their solutions for a clean energy future, with potential to receive follow-on funding from the same programme. These collective efforts aim to help the Fellows with technology advancement, commercialisation fundamentals, and go-to-market strategies as they work to scale their solutions for wide-spread adoption. Across the first three cohorts of Breakthrough Energy Fellows, teams have raised over US$150 million in follow-on funding and created more than 200 full-time jobs. Learn more about the technologies and solutions existing Fellows have developed here.
Addressing the climate gap, especially in Southeast Asia, requires concerted efforts by public and private stakeholders to identify actionable and investible business opportunities and accelerators to unlock decarbonisation outcomes. In Southeast Asia alone, a significant investment gap of US$1.5 trillion[2] needs to be bridged from now till 2030, and substantially more until 2050 to meet its net zero target. New technologies are needed to reduce the costs, and more needs to be done to cultivate talent and develop capabilities in climate science and innovation. Collective efforts to fund and invest in research and capacity building can support the development of expertise; accelerate discovery and increase the number of projects and companies working on climate technologies; and advance commercialisation of sustainable solutions required to tackle the climate crisis more effectively. The BE Fellows SEA aims to spark and accelerate the development of such technologies.
Ms. Ashley Grosh, Vice President, Breakthrough Energy Fellows, said, “To address the world’s most pressing climate challenges, innovators require tailored resources and support. That’s why we established the Breakthrough Energy Fellows programme. We are excited to deepen our commitment to early-stage innovation through the launch of a regional hub in Singapore. With its strategic location, thriving ecosystem, and unwavering commitment to sustainability, Singapore is an ideal epicenter for nurturing climate innovation in Southeast Asia and beyond. Temasek and Enterprise Singapore’s existing deep understanding of the regional landscape make them ideal partners for this expansion. Together, we’re ready to develop and scale tailored solutions to address the urgent clean energy needs we need to reach net-zero.”
Mr. Russell Tham, Head, Emerging Technologies, Temasek, said, “There is an urgent imperative to bridge the capabilities gap in climate-tech innovation in Southeast Asia. We’re excited to convene this partnership with our trusted partner, Breakthrough Energy, to pioneer what is the first regional hub of their well-established global Fellows programme here, alongside Enterprise Singapore. Breakthrough Energy’s extensive global science, investment, and innovation ecosystem, coupled with Temasek’s global sustainability focus, has been and will continue to be a powerful and complementary combination. We are confident that this tripartite Fellows programme will catalyse a new wave of tech innovations in Singapore and Southeast Asia that can contribute towards solving our global climate challenge.”
Ms. Cindy Khoo, Managing Director, Enterprise Singapore, said, “Deep tech innovations possess the transformative power to solve climate change challenges, but startup founders often face early-stage roadblocks as they take their technologies from lab to market. We need to be deliberate in providing climate-tech innovators with the right support needed to develop and commercialise new, game-changing solutions more quickly. We are excited to partner with Breakthrough Energy and Temasek to anchor Breakthrough Energy Fellows – SEA in Singapore, and build upon our strong fundamentals and infrastructure in both research and venture building to catalyse climate tech breakthroughs in the region.”
More information and application details for BE Fellows – SEA will be announced in the later half of the year.
|
[1] Ecosperity Week 2024 is a three-day conference organised by Temasek, which catalyses discussions on innovative solutions across technology, nature and finance to accelerate a green and just transition. |
|
[2] Southeast Asia Green Economy 2024 – Moving the needle, a report by Bain & Company, GenZero, Standard Chartered and Temasek |
About Breakthrough Energy
Breakthrough Energy is committed to accelerating the world’s journey to a clean energy future. The organization funds breakthrough technologies, advocates for climate-smart policies, and mobilizes partners around the world to take effective action, accelerating progress at every stage.
For more information on Breakthrough Energy, please visit www.breakthroughenergy.org. Information specific to Breakthrough Energy’s Fellows program, please visit www.breakthroughenergy.org/our-work/fellows/
About Temasek
Temasek is a global investment company with a net portfolio value of S$382 billion (US$287b, €264b, £232b, RMB1.98t) as at 31 March 2023.
Its Purpose “So Every Generation Prospers” guides it to make a difference for today’s and future generations. As an active investor, forward looking institution and trusted steward, it is committed to deliver sustainable value over the long term.
Headquartered in Singapore, it has 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia.
For more information on Temasek, please visit www.temasek.com.sg
About Enterprise Singapore
Enterprise Singapore is the government agency championing enterprise development. We work with committed companies to build capabilities, innovate and internationalise.
We also support the growth of Singapore as a hub for global trading and startups, and build trust in Singapore’s products and services through quality and standards.
Visit www.enterprisesg.gov.sg for more information.
View original content to download multimedia: Read More