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Exploit Technologies Launches International Incubator Initiative (Icube).

Singapore, Apr 23, 2009 - (ACN Newswire) - Exploit Technologies launched the International Incubation Initiative, or Icube, at the New Zealand Business Forum on 22 April 2009. Icube seeks to encourage innovation by providing to start-ups of participating incubators greater access to incubators internationally; and to enhance and accelerate the opportunities for start-ups that need international business linkages. Singapore provides the perfect leveraging platform for New Zealand innovation, due to its business interest in innovation andthis collaboration is further enhanced by the abundance of private sector capital available to invest into and import innovations from New Zealand.

Auckland UniServices Ltd, AUT Innovation and Enterprise and WaikatoLink Ltd are affiliate membersof the Technology Transfer Network (TTN), an international alliance formed in February 2008 to accelerate the commercialisation of technology to the industry. The TTN Secretariat is hosted at A*STAR Exploit Technologies. The ICEHOUSE is a business growth centre that includes business growth programmes for SMEs; a business incubator for start-ups; and New Zealands largest group of Angel Investors. Today, each of these four organisations runs a business incubator for start-ups in New Zealand.

With the launch of Icube and the signing of the Memorandum of Understanding, Exploit Technologies and the participating partners will engage in collaborative activities to support incubatees of the respective Icube partners. Such support services canbecome critical for survival when these incubatees venture beyond their shores to expand operations into the country of a fellow Icube partner (known as the Hosting Incubator).

Icube's collaborative activities will be mutually agreed upon by allparticipating partners, and will broadly include:

(a) Provision of virtual office for incubatees Incubatees of an Icube partner may be able to utilise the offices of the Hosting Incubator as a virtual international office to initiate business contacts. The first point of contact will be provided by the Hosting Incubator for enquiries and business matchmaking at no fee.

(b) Hoteling offices the Hosting Incubator shall make available physical office space for use by the Icube partners incubatees during a trip made by such incubatees to the Hosting Incubators country.

(c) Extended international incubation incubatees of an Icube partner can be incubated at the Hosting Incubators premises for durations of between three to six months for business engagement purposes and/or for research and development.

(d Access to Angel Networks Angels Investment Management (AIM) Incubatees may have access to angel networks in Icube partners home countries through contacts to be established with the assistance of the said partners.

(e) Mentoring/Advisory services Incubatees may have access to mentoring and advisory services provided by the Hosting Incubator.

Mr Boon Swan Foo, Executive Chairman of Exploit Technologies andChairman of TTN said, "In recent years, the number of global start-ups is growing; and the collective potential of global start-ups as a powerful economic engine begins to emerge. Icube seeks to smooth the path for many startups by providing them with access to international markets, networks and customers. Icube also opens up a gateway for aspiring startups to technologies, business partners and funds globally. Having a robust network of partners who can provide support services to homegrown start-ups overseas will eliminate some of the risk for these new entrants.

"I welcome onboard Auckland UniServices, AUT Innovation and Enterprise, WaikatoLink and ICEHOUSE. We look forward to working closely with our pioneering partners from New Zealand to find for our incubatees good business partners, customers and investors. Together, we can nurture more start-ups with potential to have a commanding global presence,"

On the strengthened partnership between New Zealand and Singapore's private sector, Mr Benny Goodman, Investment manager SSEA, said, "Investment New Zealand was very pleased to have the opportunity to host A*STAR, Exploit Technologies, on a recent visit to New Zealand. The trip allowed numerous New Zealand companies todemonstrate the excellence they have achieved in their respective field of science and technology while helping to advance opportunities for collaboration in the process of commercialising this technology into the global marketplace. We look forwardto a strong relationship with the A*STAR Group, which we believe will provide significant opportunities to New Zealand companies in developing this important industry sector."

Additionally, it will be announced at the Forum that the TTN, which Auckland UniServices Ltd, AUT Innovation and Enterprise, WaikatoLink Ltd have joined in November last year, saw the joining of two new Affiliate Members, namely, Industrial Research Limited (IRL) from New Zealand and Murdoch University from Australia.With the joining of the new members, TTN now has 24 members covering a global footprint that extends to the United States of America, Canada, UK, Germany, Australia, New Zealand, and Singapore.

As Affiliate Members, the new members will be ableto participate in enhanced collaboration with the network of TTN members to share best practices, leverage expertise and resources, and collaborate on networking opportunities to enhance technology transfer to the industry globally.

For media enquiries, please contact:

Walter Lee

Senior Vice President & Fellow, Exploit Technologies (a member of A*STAR)

Head, Technology Transfer Network (TTN) Secretariat

Head, Angel Investment Management (AIM) Programme, Exploit Technologies


Seeto Wei Peng

Exploit Technologies Pte Ltd (A member of A*STAR)

Corporate Marketing and Communications

DID: (65) 6478 8443

Mobile: (65) 8375 9474

Email: About Agency for Science, Technology and Research (A*STAR)

A*STAR is Singapore's lead agency for fostering world-class scientific research and talent for a vibrant knowledge-based Singapore. A*STAR actively nurtures public sector research and development in Biomedical Sciences, Physical Sciences and Engineering, with a particular focus on fields essential to Singapore's manufacturing industry and new growth industries. It oversees 22 research institutes, consortia and centres, and supports extramural research with the universities, hospital research centres and other local and international partners. At the heart of this knowledge intensive work is human capital. Top local and international scientific talent drive knowledge creation at A*STAR research institutes. The Agency also sends scholars for undergraduate, graduate and post-doctoral training in the best universities, a reflection of the high priority A*STAR places on nurturing the next generation of scientific talent. For more information about A*STAR, please visit

Source: Agency for Science, Technology and Research (A*STAR) Copyright 2009 ACN Newswire. All rights reserved.
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Publication:JCN Newswires
Date:Apr 23, 2009
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