On 9 Mar 2012, the National Research Foundation (NRF) announced that the BioFactory had successfully been selected as one of eight more incubators under its Technology Incubation Scheme (TIS). .
With NRF TIS support, The BioFactory is now better equipped to achieve its vision of being the leader in developing and commercializing innovative biomedical and life science products in Singapore.
The BioFactory is currently incubating four start-ups: SG Microlab Devices, BioLynx Technologies, SG Meditech, and Nephron Dx. By providing incubatees with the infrastructure, personnel and model for streamlined operations, The BioFactory powers its incubatees toward production-readiness.
The TIS was set up to support Singapore-based start-ups by providing them with funding through technology incubators. Selected incubators will receive NRF funding for up to 85 percent of total investment in their incubatees.