TLDR: The Singapore University of Technology and Design (SUTD) has launched the Baby Shark Fund, allocating S$3.2 million to support “micro-innovation” projects by its students. The fund aims to inspire student innovators to explore uncharted territories and serve as an additional funding option for students interested in pursuing more advanced innovation projects. Each team of at least two students can receive up to S$6,000 under the program, which encourages students to incubate fresh ideas and engage in innovative design practices.
The Baby Shark Fund aims to reshape the perception of innovation as grandiose, complex, and unattainable, emphasizing that everyone has the potential to be a micro-innovator. To qualify for the fund, SUTD students must form teams of at least two members and present their ideas to a panel of faculty and industry experts. Projects will be evaluated based on their level of innovation and potential impact on the world. The fund’s administration will be overseen by the SUTD Venture, Innovation, and Entrepreneurship Office, which will assign project mentors and provide venture support and resources to the teams.
Applications for the Baby Shark Fund will open in September, and the initial funding of S$3.2 million is expected to last for a few years, with plans for replenishment once fully disbursed. The fund aims to provide students with hands-on experiences along their innovation journey, empowering them to challenge the status quo and translate their ideas into real-world solutions. For those who transition to becoming startup founders, there is the option to apply for Enterprise Singapore’s Startup SG Founder grant, with SUTD as an accredited mentor partner.
