11 Feb 2020
Singapore’s Defence Investment Arm Partners with SSTL for Project Cyclotron
SINGAPORE /Space Tech Asia/ — Cap Vista, the strategic investment arm of Singapore’s Defence Science and Technology Agency (DSTA), and Singapore Space and Technology Limited (SSTL), which focuses on developing the space ecosystem in Asia, have jointly launched Project Cyclotron, a programme aiming to propel the space technology ecosystem in Singapore and the region.
Project Cyclotron will focus on accelerating regional space and deep tech companies, by providing them with the insights, skillsets and resources to become commercially viable. For now, the programme is limited to 10 companies.
Companies accepted into the programme will go through three main phases: developing their Unique Value Proposition, ascertaining their value through potential investors, and finally, gaining access to the programme’s diverse industry network to validate their technology and capabilities. An Investment Advisory Committee comprising potential investors will also be established under the programme.
“We see our new programme and relationship with Cap Vista as a vital part of our broader innovation platform,” said Mr Jonathan Hung, Executive Chairman, SSTL. “Accessing end-users and scaling up is not a unique challenge but particularly acute in a developing space region. Project Cyclotron provides connectivity to corporates, giving the industry access to innovation that is tested and reliable.”
“Space is a niche sector with immense market potential, and there needs to be a focused and deliberate effort to support SpaceTech companies in this area. We are pleased to launch Project Cyclotron with SSTL, which will leverage on both organisations’ complementary strengths to grow and nurture the space and deep tech ecosystem. We look forward to seeing these companies achieve their moonshots in the near future,” said Mr Chng Zhen Hao, CEO, Cap Vista.