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  • Writer's pictureLouisa Ong

UFG, NUS & SIP sign MOU to champion Impact Leadership and Tech for Good for start-ups and innovators


Social Innovation Park (SIP) is delighted and proud to announce that we have signed a Memorandum of Understanding (MOU) with Unicorns For Good (UFG) and the National University of Singapore (NUS) on Thursday 18 May 2023. This MoU champions Impact Leadership and Tech for Good for start-ups and innovators, harnessing the power of technology for greater good. The event took place at NUS iCube Building Level 2 Auditorium.


Witnessed by Ms Gan Siow Huang, Minister of State for Education and Manpower, our tripartite MOU marks the beginning of a significant partnership. Collectively, we aim to harness technology’s transformative power to better our society. Through the partnership, UFG, NUS, and SIP will collaborate in the areas of Tech For Good and Mindful Leadership, working with stakeholders to mobilise technologies, global networks, and financial resources to achieve the United Nations Sustainable Development Goals (SDGs). We will catalyse the transition towards a regenerative economy, creating net positive impacts to people, planet, and prosperity.


The post-Covid world ushers in a new era of rapid technology adoption, the Internet of Things, and an escalation of ‘AI in everything’. As a result, the world experiences rapid social and economic changes, bringing about disruptions and uncertainties at both the personal and global level. Amidst technological advancement, we live in the era of geo-political tensions, widening income inequality, urban depressions, and climate change.


The MOU was signed by:

  • Ms Penny Low, Founder and President of UFG and SIP, and former Member of Parliament

  • Professor Chen Tsuhan, Deputy President (Innovation and Enterprise) of NUS

  • Mr Khong Kwok Wai, Director of SIP


The following senior leaders from the signing parties were also present to observe the signing ceremony:

  • Associate Professor Benjamin Tee, Associate Vice President (Enterprise), Office of the Deputy President (Innovation and Enterprise)

  • Mr Brian Koh, Director of Ecosystem – Business Development, NUS Enterprise

  • Mr Ricky Kok, Founder and CEO of Chang Cheng Group,

  • Mr Pang Lim, Founder and CEO of Koufu

  • Mr Lim Chin Boon, Founder and CEO of Clean Solutions


To further commemorate our collaboration, UFG, NUS and SIP then co-organised an inaugural forum on “Mindful Leadership in an Age of Disruptive AI”. Esteemed thought leaders from the Private, Public, and People sectors explored the role and need for mindful leadership in navigating the challenges and opportunities presented by disruptive AI technologies, and in harnessing the power of AI to create positive transformations for society and the world.



The members of the panel included:

  • Ms Penny Low, Founder and Chair of UFG and SIP; and former Member of Parliament

  • Professor Chen Tsuhan, Deputy President (Innovation and Enterprise) of NUS; and Chief Scientist of AI Singapore

  • Professor Simon Chesterman, Vice Provost (Educational Innovation) of NUS; and Senior Director (AI Governance) of AI Singapore

  • Mr Chavalit Frederick Tsao, Chairman of IMC Pan Asia Alliance Group; and Founder of Octave

  • Dr Songyee Yoon, Managing Partner of Chamaeleon Venture Capital


These panelists discussed the need for mindful leadership in navigating the challenges and opportunities presented by disruptive AI technologies. They discussed how business leaders, innovators, and entrepreneurs can be stewards for the responsible application of AI and other technologies, in order to create positive transformations for the world.



Ms Penny Low mentioned, “As more AI enters our lives, more mindfulness needs to be awakened, especially in leaders. Technology should be applied to make a regenerative humani-verse (humanity + universe) and not a degenerative world. The leading university, NUS, the Social Innovation Park and Unicorns for Good will join hands to leverage NUS’ excellent academia capital, SIP’s rich social innovation experience, and UFG’s deep global network, to forge meaningful collaborations, in pursuit of an enterprising and mindful humani-verse. We invite all to reach out and join our Unicorns for Good Global Pledge. Join this world-class global community, and become a net plus to lives.”


Professor Chen Tsuhan also elaborated, “Through this partnership, we strive to bridge the gap between academia, industry, and society, creating a seamless transition from theory to practice, from lab to market. By co-creating new opportunities in the areas of experimentation, community-building, research, training, and mentorship with UFG and SIP, it opens avenues for entrepreneurship, knowledge transfer, and partnerships. It also empowers innovators to use technology as an enabler for positive social impact, making a difference in society with their innovations.”

Finally, to pave the way for Tech For Good, NUS also showcased five start-ups which champion Impact Leadership to create positive transformations for people and the planet: Aurora Food, EzCompostr, Go! Mama, I’m Friendly Co and Moonbeam.


Be part of our world-class Tech-for-Good community: https://www.unicornsforgood.com/pledge


Photo Credits: NUS Enterprise

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