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HomeAsiaThermalytica Triumphs at SLINGSHOT 2023, Securing Over US$150K in Grant Prize

Thermalytica Triumphs at SLINGSHOT 2023, Securing Over US$150K in Grant Prize

The Top 50 startups at SLINGSHOT 2023 on the final day of SWiTCH 2023 in Singapore

Japan-based clean tech startup Thermalytica was announced as the grand prize winner of SLINGSHOT 2023 on Thursday at the Singapore Week of Innovation and Technology (SWITCH) flagship conference. The company won a grant prize of over US$150,000.

The competition also announced Bering Lab, which provides domain-specific translation engines and tools powered by Artificial Intelligence (AI) for the legal and patent industries, as its first runner-up.

It also named Kinexcs, an AI-based digital health and wearables company focused on enabling mobility for patients with musculoskeletal conditions, as second runner-up. These companies won grant prizes of US$110,000 and US$75,000, respectively.

In total, there were 10 winners across five domains: Transformative Digital Technologies, Health and Biomedical, Consumer Media, Goods & Services, Manufacturing, Trade & Connectivity, and Environment, Energy & Green Technologies.

Enterprise Singapore (EnterpriseSG) Chairman Peter Ong said in a press statement, “The strong participation in SLINGSHOT 2023 reflects the continued strength of Singapore’s startup ecosystem. As the key driver of the ecosystem, EnterpriseSG will continue to uncover and nurture innovative startups on their deep tech journeys. In particular, we want to connect startups to both private and public sector partners to help them secure funding, grow, and scale.”

At the finals, the top 50 winners pitched to a judging panel that consisted of Carmen Yuen (General Partner of Vertex Ventures), Eduardo Saverin (Co-founder and Co-CEO of B Capital Group), Magnus Grimeland (Founder and CEO of Antler), and Kuo-Yi Lim (Co-Founder and Managing Partner of Monk’s Hill Ventures).

Also Read: Amazon Web Services (AWS), Enterprise SG join forces for SWITCH & SLINGSHOT2022

In addition to the grant prizes, the top three winners also received other prizes, including up to 18 months of rent-free space at either of the LaunchPads at JTC’s one-north and Jurong Innovation District, and be awarded the Entrepass, a workpass that allows foreign founders to enter and establish innovative and venture-backed startups in Singapore.

They will also receive a complimentary 12-month international membership with Action Community for Entrepreneurship (ACE.SG), which offers them resources and information.

Organised by EnterpriseSG, SLINGSHOT is a global deep tech startup pitching competition that “uncovers startups with innovative and cutting edge technologies and enables them to scale from Singapore.”

According to the organisation, this seventh edition of SLINGSHOT saw a record 4,700 applications from 150 markets, including the US, the UK, Japan, South Korea, and Germany. This year also saw an over 50 per cent increase in applications from the Southeast Asian (SEA) region, namely from Malaysia, Vietnam, and Thailand.

Image Credit: SLINGSHOT 2023

The post Thermalytica emerges as winner of SLINGSHOT 2023, takes home US$150K+ in grant prize appeared first on e27.

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