UK & Singapore Collaborative R&D Grant
Funding Strategy / Innovate UK & Monetary Authority of Singapore
London, Newcastle & Singapore
£1.07m
grant funding secured.
Partners
SME, Corporate & University
24 month
collaboration project.
Supporting Kore Labs, National Innovation Centre for Data and Crowe Singapore’s Global Innovation Partnership
Kore Labs set a strategic goal to expand internationally and sought grant funding to support both technical and commercial scaling ambitions. Collaborative R&D Grant Funding of £1.07m accelerated the realisation of these goals.
Grant funding for scaling internationally and grant funding for innovation projects provides non-dilutive funding for businesses, but there are more advantages. This Collaborative R&D grant funding enabled a UK-based SME to collaborate with an established corporate already operating in a key target export market, and gain access to world-leading academic knowledge through the university partner.
Together We Solve
The UK-Singapore Collaborative R&D Programme by Innovate UK empowers pioneering companies to co-develop next-generation technologies through trusted international partnerships. With a focus on AI, sustainability, and digital transformation, the programme enables UK businesses to tap into high-growth markets while accelerating technical development at home.
One of the standout success stories from this initiative is Kore Labs – a UK-based FinTech scaleup and long time client of Venturenomix that secured grant funding to lead a world-first project developing an AI-powered, open-content financial taxonomy platform in partnership with Newcastle University (NICD) and Crowe-Singapore.
For Kore Labs, this grant represents an opportunity to expand internationally into Asia by working with local expert partners (Crowe Singapore) who have an established and extensive local network in the region.
Successful Outcomes
Venturenomix worked with Kore Labs, NICD and Crowe Singapore to craft a compelling bid aligned to the programme’s dual goals: UK R&D acceleration and strategic collaboration with Singaporean industry.
We helped position the project as a first-of-its kind, cross jurisdictional AI initiative to improve global financial product governance (ESG) that leverages a powerful blend of UK academic excellence and Asian market access.
The bid was awarded £750,000 in Innovate UK funding and £320k in grant from the Monetary Authority of Singapore, enabling a 24-month collaborative R&D project that embeds cutting-edge AI/ML capabilities into an open-source financial taxonomy and drives regulatory alignment across UK and Singapore.
“Venturenomix has become really a partner – an insider into my company. Innovative UK funding has been transformational.”
Sabrina Del Prete
Founder & CEO // Kore Labs
