Singapore expands Global Innovation Alliance

This expansion was announced by Gan Kim Yong, Minister for Trade and Industry of Singapore, at the Singapore Week of Innovation and Technology (SWITCH) Appreciation Dinner on October 27.

Edwin Chow, EnterpriseSG’s assistant CEO (Innovation and Enterprise) said, “Having a strong network of global partners is key to helping Singaporean companies connect to overseas innovation centres, drive the exchange of knowledge and ideas, and enable collaborations. The latest inclusion of Abu Dhabi and Seoul as GIA nodes expands our GIA network and will help more innovative Singaporean startups and SMEs scale beyond our shores.”

Gan Kim Yong, Singapore’s Minister for Trade and Industry

Abu Dhabi marks the first in the Middle East, making it a gateway in the UAE and other high-growth economies in the region into fast-evolving areas including urban mobility, transport and logistics, smart buildings, IoT, and connectivity.

Meanwhile, in Asia, Seoul adds to the current network in China, India, Japan, and Southeast Asia. South Korea is attractive to Singaporean companies in their overseas expansion. Last year, more than 60 applications were received for a pilot run of the programme.

EnterpriseSG will partner with corporate innovation and venture development firm Rainmaking Innovation to run the GIA acceleration programmes in Abu Dhabi and Seoul.

Expected to commence in 2023, the Abu Dhabi and Seoul programmes will each support at least 30 Singapore-based startups and tech SMEs to enter the market over the next two years.

With the two new markets, the GIA network now covers 17 cities globally.

Since 2021, EnterpriseSG and its partners have run close to 50 acceleration programmes across different cities, with 295 Singapore-based companies tapping into GIA outbound acceleration programmes for overseas market access. This signals a strong interest from the companies to expand their business beyond Singapore.

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