Internationalisation can be both a major risk and growth opportunity for startups. Singapore understands that and is committed to encourage entrepreneurship and innovation through a combination of support levers, including a network of ecosystem partners, progressive regulatory frameworks and enabling financial tools.
We have round up three types of programmes that offer support to startups to land on their feet, develop their businesses and scale innovative technologies rapidly.
1) Incubators and accelerators offer expertise, funding and networks
As a global hub for innovation, Singapore has built a vibrant ecosystem featuring global R&D labs for leading Fortune 500 companies, as well as over 150 venture capital funds, incubators and accelerators.
SGInnovate, Singapore’s primary investment arm for Deep Tech, has invested over S$50 million (US$37.6 million) in more than 80 companies hailing from Singapore, the United States and Europe. Not only does SGInnovate invests in the next generation of Deep Tech companies, it works closely with its portfolio companies on go-to-market, product development, fund raising and business development.
SGInnovate counts companies such as Blaize, an AI computing platforms company headquartered in the United States and Biofourmis among their portfolio.
Does Biofourmis sound familiar to you? That’s because Biofourmis has been making waves with their contributions to the fight against COVID-19. Taking therapeutic wearables to the next level, AI-powered Biovitals Sentinel looks like a smart watch, but works as a stealth COVID-19 tracker. This remote therapeutic platform detects symptoms in COVID-19 patients using real-time data analytics. Already deployed in Hong Kong, Biofourmis is engaging governmental agencies and partners in the region to scale and apply its technology. Watch the video below for innovations that were born to tackle COVID-19, including Biofourmis’.
