Trendlines Medical Singapore receives S$2.2 million grant from SPRING Singapore
The Trendlines Group (SGX: 42T, OTCQX: TRNLY) announced that its subsidiary Trendlines Medical Singapore will receive a grant of up to S$2.2 million under the Incubator Development Program administered by SPRING Singapore, the enterprise development agency of the Singapore Ministry of Trade and Industry. Funds from the grant will support the operating activities of Trendlines Medical Singapore, which was established to invest in, develop and nurture early-stage medical technology companies to improve the human condition.
The Incubator Development Program provides grant support to incubators to enhance their capabilities and programs to better assist innovative start-ups. Johnny Teo, Director, Manufacturing & Engineering, of SPRING Singapore remarked, “We are excited about the opportunity for collaboration with Trendlines Medical Singapore and The Trendlines Group to further develop the medical technology start-up ecosystem in Singapore. We envisage working closely with the Trendlines organization to build more successful medical technology start-ups in Singapore, particularly leveraging the rich biomedical research initiatives that already exist in Singapore.”
Commenting on the grant, Eric Loh, CEO of Trendlines Medical Singapore, said “SPRING Singapore’s grant to Trendlines’ new Singapore incubator demonstrates the strong support here in Singapore for our incubation program. The grant will help us provide extensive support to our Singapore-based investments and enhance our ability to establish and build medical device companies. We look forward to continuing our close work with the dedicated professionals of SPRING Singapore as we establish and grow our portfolio companies.”
About SPRING Singapore
SPRING Singapore is an agency under the Ministry of Trade and Industry responsible for helping Singapore enterprises grow and building trust in Singapore products and services. As the enterprise development agency, SPRING Singapore works with partners to help enterprises in financing, capability and management development,technology and innovation, and access to markets. As the national standards and accreditation body, SPRING Singapore develops and promotes an internationally recognized standards and quality assurance infrastructure. SPRING Singapore also oversees the safety of general consumer goods in Singapore.