Founded in February 2008, the TTN is an alliance that aims to enhance the effectiveness of transferring research and development (R&D) work and technology into the industry. The group's core activities include IP cluster mapping, and training and certification of technology transfer professionals.
Its founding members include Exploit Technologies, which is the strategic marketing and commercialization arm under the Agency for Science, Technology and Research (A*STAR), Nanyang Technopreneurship Center at Singapore's Nanyang Technological University, and the country's five polytechnics.
The Singapore Management University (SMU) today became the TTN's eighth founding member, which responsibilities include a seat on the organization's board, providing leadership to the alliance by contributing expertise and resources and participating in specific interest groups, as well as formulating the alliance's ongoing strategic direction.
Extending the TTN's global reach, U.S.-based professional services firm Larta Institute, which provides entrepreneurial training, commercialization and technology transfer services, and Canadian non-profit innovation center MaRS have joined as affiliate members. Communications company Motorola, and global early-stage tech investment company Imprimatur Capital, joined as associate members.
To tap this expansion, Exploit Technologies also launched a new initiative dubbed Innovation and Venture – Angel Investment Management (AIM). This program was established as a catalyst and facilitator to encourage angel networks to be formed in special interest groups, according to the TTN.
Exploit Technologies will establish and operate AIM with full-time resources, within the alliance.
The program was established to introduce companies endorsed by A*STAR and TTN partners, to angel networks in Singapore. AIM will also tap angel networks for funds, as well as expertise relevant for start-ups. It will also facilitate the sharing of best practices on angel investments to encourage the formation of more angel networks.
TTN Chairman Boon Swan Foo said Tuesday at AIM's launch that two new angel networks will be unveiled by October.He noted that unlike in Europe and the United States, formal angel investment clubs are not common in Asia.
"The networking side of business is much less formalized, and this creates more of a challenge for entrepreneurs to raise capital in Asia," said Boon, who is also executive chairman of Exploit Technologies.
Examples of such networks in the United States are Tech Coast Angels and the Common Angels, he said, as well Singapore's Business Angels Network South East Asia (BANSEA).
According to Boon, to ensure effective returns on their investments, business angels will increasingly be looking to invest in early-stage entrepreneurs that have clear strategies for accessing the global markets. At the same time, these startups must go global early to take advantage of the international marketplace, he said.
A strong network of angel investors could propel promising early-stage entrepreneurs to the global stage, Boon said. "We see AIM as the accelerator to make this happen," he added.
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