Asia is shaping the future of global digital innovation, accounting for half of the world’s internet users and more than one-third of the world’s startup unicorns. Correspondingly, companies in the region are undertaking more innovation activities to capture new opportunities. In Singapore, business expenditure on R&D jumped 50% between 2008 and 2018. As companies look to accelerate their rate of innovation, many have looked to startups for inspiration, invention and partnership.
With one of the highest concentrations of multinational corporations in Asia, corporate innovation programmes are aplenty in Singapore. Startups, local and foreign, can get a leg up in commercialising and scaling their solutions by participating in such programmes.
Check out three examples below of how startups which joined the Facebook Accelerator, Cisco Innovation Centre and SAP.iO foundry grew their business and expanded to new markets.
