Singapore’s Economic Development Board (EDB) and Enterprise
Singapore have signed a memorandum of understanding (MoU) with
the
Japan External Trade Organisation (JETRO) to bolster support for startups
and businesses based in Japan and Singapore.
The signing took place on the
sidelines of the ASEAN Economic Ministers’ Meeting 2018. Under the MoU, EDB, Enterprise Singapore and JETRO will facilitate
access and opportunities through creating initiatives, events and
information exchanges for startups and businesses, strengthening linkages
between the Singapore and Japan innovation ecosystems.
Ted Tan, Enterprise Singapore’s Deputy CEO said,
“Japan is a global leader in innovation, especially in areas such as
manufacturing and engineering. Through this partnership, we will work with
JETRO and their partners to enable Singapore startups to tap on
Japan’s
strong innovation ecosystem, and work together with high potential
Japanese startups to jointly enter the ASEAN market through Singapore.”
The MOU also expands Singapore’s Global
Innovation
Alliance (GIA) initiative with Japan now as part of the network. A key
recommendation in the Committee on the Future Economy 2016 report, the
GIA was launched in 2017 to strengthen Singapore’s connection to leading
innovation hubs and key markets around the world.
Beh Kian Teik, EDB’s Assistant MD and Chief Digital Officer said, “Having Japan join the GIA network builds on the existing
economic
partnership and bilateral relations. This partnership will provide valuable
access and opportunities for Singapore and Japanese enterprises
to
connect, partner and cocreate solutions, thereby bolstering the startup and
innovation ecosystems in both countries.”
