Enterprise Singapore (EnterpriseSG) has added three Global Innovation Alliance (GIA) nodes, in Mumbai, Melbourne, and Sydney, extending the GIA network to 21 cities*. The new nodes will facilitate the expansion of Singapore tech startups into India and Australia, and drive innovation collaboration.
The new nodes were announced by Singapore Deputy Prime Minister Heng Swee Keat at the opening of deep tech festival Singapore Week of Innovation and Technology (SWITCH), organised by EnterpriseSG.
Said Emily Liew, EnterpriseSG’s Assistant CEO (Innovation & Enterprise Services): “Connectivity is of critical importance when it comes to innovation collaboration. 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 needs.”
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**. The city is also India’s fintech capital and a hub for the media and entertainment industry. The city’s huge consumer base, supportive ecosystem and established logistics infrastructure makes Mumbai an excellent launchpad for startups and SMEs to grow in the region***.
The GIA Mumbai node is EnterpriseSG’s second in India. This node facilitates the two-way flow of technology and startup collaboration between Singapore and India, with a focus on fintech, supply chain technology and AI. EnterpriseSG will partner ecosystem builder Startup Réseau to run the 12-week GIA acceleration programme in Mumbai, to help Singapore-based startups generate business connections, accumulate market knowledge and access the market.
The hybrid programme comprises a series of virtual workshops, business-to-business meetings and industry visits conducted over the first eight weeks; 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.
Singapore startups that recently expanded into Mumbai include uParcel (by MXHL), a logtech company that develops AI logistics solutions such as same-day delivery platform and route optimisation. Through a pilot programme with Startup Réseau, uParcel validated the demand for its solutions in Mumbai and has since set up an office and hired staff to look into localising its AI solutions for the market, including route optimisation.
There are opportunities in areas such as fintech, AI, sustainability tech, health and medtech in Australia. To help companies form market entry strategies and connect with potential partners and stakeholders, EnterpriseSG will partner Haymarket HQ (HHQ).
Since 2019, EnterpriseSG and its partners have supported over 500 Singapore tech companies through GIA acceleration programmes, benefitting close to 700 participants.
*Mumbai and Bangalore in India; Melbourne and Sydney in Australia; New York City and San Francisco in the US; Beijing, Shanghai, Shenzhen and Suzhou in China; Paris in France; Berlin and Munich in Germany; Jakarta in Indonesia; Tokyo in Japan; Seoul in Korea; Manila in the Philippines; Bangkok in Thailand; Abu Dhabi in the UAE; London in the UK; and Ho Chi Minh City in Vietnam.
**The State Of Indian Startup Ecosystem Report 2023 by Inc42 Media
*The Maharashtra and the exciting growth of its startup ecosystem report by KPMG. https://assets.kpmg.com/content/dam/kpmg/in/pdf/2019/02/Maharashtra-startup-ecosystem.pdf
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