Bosch launches grow innovation hub in Singapore and announces spinoff of AquaEasy corporate venture with EDB New Ventures

Singapore – Bosch in Southeast Asia today launched its regional headquarters for grow – the company’s global in-house innovation and start-up incubation network. grow Singapore, set up in partnership with EDB New Ventures, aims to launch at least five new ventures by 2023 from Singapore, each with the potential to scale as new businesses for Bosch.

As one of eight carefully selected innovation hubs globally, grow Singapore aims to capture future growth within the region for the world by leveraging on Singapore’s thriving innovation landscape.
 

Singapore has been investing heavily in providing the right infrastructure, capital access, stability, and governmental support to attract some of the best start-up talent in the region, evident by the relocation of regional start-ups to Singapore to capitalize on the great ecosystem, capital markets, and proximity to market that the country provides.

“Singapore is not only able to enhance domestic start-ups through fast pace and ever evolving ecosystem, but also to build new ventures that see the entire Asian market as a focus area”, adds Roenner.

Singapore start-up makes strides in sustainable innovation 
AquaEasy is the first spin-off innovation under grow and has secured funding from EDB New Ventures and Bosch.

AquaEasy combines sensors, software, and services based on data analysis capabilities using Artificial Intelligence (AI) to transform aquaculture from art to science. It helps the region’s shrimp farmers increase yield, predictability, and implement sustainable aquaculture practices, while reducing risks and costs. The solution has since been deployed at many shrimp farms in Indonesia, Vietnam as well in Singapore such as Qian Hu, a local aquaculture company to achieve an efficient and sustainable farming system which is in line with Singapore’s goal of attaining food security and sufficiency by 2030.

Aside from leveraging Bosch’s cutting-edge competencies in sensor development and AI, Bosch has also supported AquaEasy since 2018 via go-to-market support, business development and strategies, recruitment, networks and partnerships.
 

Driving new growth opportunities in SEA
Bosch intensifies its corporate venturing efforts through its continued partnership with EDB New Ventures to drive new growth opportunities and innovation in Singapore.

“Innovation is deeply embedded in Bosch’s DNA. The launch of grow’s hub in Singapore and our collaboration with EDB aims to achieve one goal: to establish a powerful regional network for start-ups to collaborate with the best to solve the needs and challenges of tomorrow,” said Martin Hayes, president of Bosch in Southeast Asia. “The pace of innovation has no doubt intensified in recent years. This has resulted in the increasing importance to adopt the agility of start-ups to generate quicker – and perhaps even better – results as we enter a digital era.”