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Enterprise Singapore forms partnership to allow faster access to India’s startup ecosystem

According to a recent
announcement
, Enterprise Singapore (ESG) signed a Memorandum of
Understanding (MOU) with The Indus Entrepreneurs (TiE), one of the largest
global entrepreneurship organisations. With a network of 11,000 members
globally, India currently constitutes one third of TiE’s global membership. The
MOU was signed ahead of Indian Prime Minister Mr Narendra Modi’s visit to
Singapore.

India’s startup ecosystem ranks third globally, with over
4,750 startups. Its key focus areas include e-commerce, fintech, healthtech and
edutech. The number of startups in India grew 12% in 2016 and is expected to
cross 10,000 by 2020. In 2017, the value of startup funding amounted to
approximately US$13.7 billion, significantly higher than the $4.06 billion of
2016 and the $8.4billion of 2015.

The growth is fuelled by (1) increased Government support
through startup schemes that eased registration and gave Indian startups
priority in Government-led projects, and (2) rising middle class which led to a
boom in startups tapping into the consumer space.

The ESG-TiE collaboration kickstarts the Singapore-India
Incubation Programme by Startup SG, led
by Enterprise Singapore, with the support of Trade Associations and Chambers (TAC)
and startup partners.

Mr Tan Soon Kim, Assistant Chief Executive Officer of
Enterprise Singapore, said, “India is an up-and-coming hotspot for global startups
and businesses. The growth of India’s startup landscape has been remarkable.
The Singapore-India Incubation Programme aims to introduce ideas and concepts
between the ecosystems of both countries and foster collaboration between
companies in each other’s markets and in Southeast Asia.”

“Over time, we aim to establish a series of key innovation
nodes within India to form an innovation network for Singapore companies to tap
on,” Mr Tan added.

Currently supported by eight partners, the Programme aims to
foster collaboration between Singapore and Indian startups through
jointly-organised networking events, workshops and sessions with in-market
mentors.

As a start, TiE will be running a startup mission in July
with ten Singapore startups to meet with Indian startups, corporates, mentors
and investors to partner and co-innovate solutions in fintech, e-services and
deep tech.

Mr Puneet Pushkarna, Chairman of TiE Singapore, said, “The
strategic collaboration between TiE and Enterprise Singapore would strengthen
the bridge between India and Singapore’s startup ecosystem, which today are
amongst the most vibrant in the world.”

“We are confident that the platform would further
proliferate networking amongst innovators and allow for the development and
adoption of ideas, flow of capital and implementation of technically
challenging solutions for the betterment of the society at large,” Mr Pushkarna
said.

In line with the Incubation Programme by Startup SG,
Enterprise Singapore will be organising an iAdvisory Seminar titled “Startups
in India” on 12 June 2018, to help Singapore companies understand the startup
landscape in India, opportunities and how to enter the market.

At the same time, Enterprise Singapore also inked an MOU
with the National Skills Development
Corporation (NSDC) India
. The signing will be witnessed by Indian Prime
Minister Mr Narendra Modi and Minister-in-charge of Trade Relations and
Minister for Communications and Information, Mr S. Iswaran.

The MOU will facilitate the entry of Singapore vocational
training companies into India to support the skills needs of the beauty and
wellness, F&B, and construction and facilities management sectors.

As a start, Singapore vocational training
companies can tap into several of NSDC’s financing schemes, such as soft loan
for equipment and equity injection for joint venture projects with Indian
training companies.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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