Enterprise Singapore expands global innovation alliance

The announcement was made at the Singapore Week of Innovation and Technology 2023, which is taking place from October 31 to November 2.

With these additions, the GIA network will now operate in 21 cities globally, working to strengthen tech and startup collaborations with Singapore.

Emily Liew, EnterpriseSG’s assistant CEO for Innovation and Enterprise Services said, “Connectivity is of critical importance when it comes to innovation collaborations. The new GIA nodes strengthen our networks in the Asia-Pacific region and will enable more Singapore-based tech startups across various sectors to explore opportunities, seek business partners, and develop new solutions that cater to the market's needs.”

The GIA Mumbai node is EnterpriseSG’s second in India, adding to the existing one in Bangalore. It facilitates the two-way flow of technology and startup collaborations between Singapore and India, with a focus on fintech, supply chain technology, and AI.

EnterpriseSG will partner with the ecosystem builder Startup Réseau to run the 12-week GIA acceleration programme in Mumbai, helping Singapore-based startups generate business connections, accumulate local knowledge, and access the market.

The hybrid offering comprises a series of virtual workshops, business-to-business meetings, and industry visits conducted over the first eight weeks. These will be followed by an in-person market immersion component of up to four weeks, where participants get to network with potential clients and partners, and participate in curated market advisory sessions. Startup Réseau will run two cohorts per year for up to 20 companies.

Meanwhile, the Australia nodes will help companies form market entry strategies and connect with potential partners and stakeholders. There are opportunities in areas such as fintech, AI, sustainability, health, and medtech.

EnterpriseSG will partner with Haymarket HQ (HHQ) to run a 13-week hybrid GIA acceleration initiative in Sydney and Melbourne. The first 12-weeks will consist of in-person advisory sessions, virtual workshops, mentoring sessions, and pitching practice, which will lead into a one-week market immersion session across both cities. HHQ aims to support up to 40 companies over two years.

Sydney and Melbourne are the two cities with the highest performing startup ecosystems in Australia and Oceania, and Mumbai is one of India’s top startup hubs, with strengths in specialised tech verticals such as fintech, e-commerce, healthtech, edtech, and enterprise tech.

Since 2019, EnterpriseSG and its appointed partners have supported over 500 Singaporean tech companies through the GIA acceleration programmes, benefitting close to 700 participants.

Singapore partners with Japan, UK, Switzerland on digital asset initiative Regulators in Singapore, Japan, the UK and Switzerland are planning asset tokenisation tests for fixed income, foreign exchange and asset management products, the Swiss Financial Market Supervisory Authority (FINMA) reported on October 30.

SWITCH 2023 spotlights new game changers The Singapore Week of Innovation and Technology (SWITCH) 2023 opened on October 31, highlighting the transformative power of AI and advances in net-zero technologies.

Responding to the changes in the startup environment Startups today face the daunting obstacles of scaling their businesses and proving their revenue models, requiring them to exhibit adaptability and articulate their value proposition in an ever-evolving investment landscape. Manisha Shah, CFO at Momo, also one of esteemed judges of KPMG Global Tech Innovator, shared with VIR’s Celine Luu her perspective on these challenges, while also offering valuable insights on the role of women in tech start-ups and the need for increased support for female entrepreneurs.