Enterprise Singapore (EnterpriseSG) made a significant announcement today, revealing the establishment of three new nodes for the Global Innovation Alliance (GIA) in Mumbai (India), Melbourne, and Sydney (Australia). These additions aim to facilitate the expansion of Singaporean tech startups into India and Australia, fostering innovation collaboration. With these new inclusions, the GIA network extends its operations to 21 cities worldwide.
The unveiling of these nodes was part of an announcement made by Singapore’s Deputy Prime Minister, Heng Swee Keat, at the opening of Singapore Week of Innovation and Technology (SWITCH), the foremost deep tech festival in Asia organized by EnterpriseSG.
Emily Liew, Assistant Chief Executive Officer (Innovation & Enterprise Services) at EnterpriseSG, highlighted the significance of connectivity in innovation collaboration. She emphasized how the new GIA nodes would fortify networks in the Asia Pacific region, offering opportunities for Singapore-based tech startups across diverse sectors to explore new possibilities, seek business partnerships, and develop solutions aligned with market needs.
Enhancing Innovation Connections in Asia Pacific
The Mumbai node, the second in India after Bangalore, focuses on fostering technology and startup collaborations between Singapore and India. It particularly emphasizes fintech, supply chain technology, and AI. Startup Réseau, an ecosystem builder, will collaborate with EnterpriseSG to administer the 12-week GIA acceleration program in Mumbai. The program includes virtual workshops, business meetings, and industry visits over eight weeks, followed by a four-week in-person market immersion component. The initiative aims to provide networking opportunities and curated market advisory sessions for up to 20 participating companies annually.
Singaporean startups, such as uParcel (by MXHL Pte. Ltd.), a logtech company specializing in AI logistics solutions, have expanded into Mumbai. Through a pilot program with Startup Réseau, uParcel confirmed the demand for its solutions, prompting the establishment of an office in Mumbai and further development of tailored AI solutions for the local market.
Opportunities in Australia
In Australia, opportunities in areas such as fintech, AI, sustainability tech, and health and medtech are being explored. EnterpriseSG will collaborate with Haymarket HQ (HHQ) to conduct a 13-week hybrid GIA acceleration program in Sydney and Melbourne. This program includes advisory sessions, workshops, mentoring, and a one-week market immersion across both cities.
Recent successes include Cloudwall, a SaaS fintech startup, which closed a deal in Australia and increased market awareness of its flagship product, Serenity. Another company, Pactly, a contract management software startup, secured a commercial contract with a pharmacy chain store in Australia, further solidifying its presence in the market.
Sydney and Melbourne, as highlighted, stand out in the Australian startup landscape, with Sydney positioned as the financial center and software hub of Australia, while Melbourne’s startup ecosystem is rapidly evolving, especially in specialized tech verticals, owing to progressive regulatory frameworks and government support.
The establishment of these new GIA nodes marks a strategic move by EnterpriseSG to bolster Singapore’s presence in the tech innovation landscape, fostering international collaborations and offering a platform for Singaporean startups to thrive in vibrant markets across India and Australia.