Duke-NUS Medical School today launched LIVE Ventures, a S$20 million incubation programme designed to catalyze the commercialization of innovative academic research. Focused on translating scientific breakthroughs into clinical applications, LIVE Ventures will provide Duke-NUS scientists conducting high-impact research with essential commercialization expertise and resources and partner with both public and private sector entities to co-fund these projects. The initiative kicks off with a pilot project aimed at developing new treatments for chronic inflammatory diseases.
Bridging the knowledge gap in translating academic research into industrial products The knowledge gap in commercialization and entrepreneurship is among the top challenges faced by academic innovators when taking research concepts to market. To overcome this barrier in the early stages of the complex market discovery journey, LIVE Ventures will guide our scientists to conduct product-market fit evaluations by involving a diverse range of industry experts, investors, pharmaceutical companies, and market data professionals to examine the real market needs for each project. An Investment Advisory Committee has been set up to tap the expertise and experience of these experts to provide critical industry perspectives for project evaluation.
To enhance the chances of successful commercialization, LIVE Venture will leverage external expertise by pairing seasoned entrepreneurs, called Entrepreneurs-in-Residence, wit.