Media Releases 11 Oct 2019 Updated 11 Oct 2019 Global Innovation Alliance network expands to Bangalore, connecting Singapore tech startups and SMEs to India’s innovation ecosystem Share: MR No.: 061/19 Singapore, Friday, 11 October 2019 Minister-in-charge of Trade Relations Mr S Iswaran announced the expansion of the Global Innovation Alliance (GIA) network to Bangalore in India today. Through the network in Bangalore, Enterprise Singapore will help connect Singapore technology startups and SMEs to India’s growing innovation ecosystem, and boost business partnerships between Singapore and India. Mr Iswaran said, “The innovation ecosystems in both Singapore and India share many synergies. Bangalore for example, has an established technology scene, along with a strong startup and innovation ecosystem. The expansion of the GIA network to Bangalore provides Singaporeans and Singapore companies with more opportunities to better connect and collaborate with their counterparts in India, and co-create innovative solutions. We hope that this will not only pave the way for more partnerships between enterprises from both countries, but also drive the growth of our startup ecosystems to benefit both our economies.” Mr Iswaran witnessed the signing of four Memoranda of Understanding (MOUs) as part of the GIA network, including Enterprise Singapore’s three MOUs to strengthen market access and help Singapore tech startups and businesses familiarise with the ecosystem. This will eventually help them to set up, test-bed and commercialise their solutions, engage in co-innovation activities, as well as form business partnerships in Bangalore and India. Enterprise Singapore will partner: Anthill Ventures, an international speed scaling platform, to run the GIA Acceleration Programme to facilitate the entry of Singapore-based startups into the Indian market through Bangalore. Expected to commence in November 2019, the programme includes preparation stage in Singapore and market immersion in Bangalore. (Refer to Annex 1 for details of the GIA Acceleration Programme); The Indus Entrepreneurs Global (TiE Global), a startup network founded in Silicon Valley, to connect Singapore startups to mentors and venture capitalists (VCs) in the Indian startup scene; YourStory, India’s mediatech platform for startups and entrepreneurs, to strengthen mindshare between the startup communities of both countries and highlight collaboration opportunities. For example, YourStory will be aggregating and surfacing problem statements of Indian companies, and call for Singapore startups to respond through innovative solutions. To provide a conducive environment for tech startups and companies to collaborate, Anthill Ventures signed an MOU with BRIDGE+, CapitaLand’s co-working space. The GIA Acceleration Programme will be conducted at this launchpad in CapitaLand’s International Tech Park Bangalore. The launchpad also provides services such as guidance on business development, briefings on business and technology trends, marketing support to the startup ecosystem partners, as well as mentorship and training. Mr Tan Soon Kim, Assistant Chief Executive Officer of Enterprise Singapore, said, “Singapore companies can leverage Bangalore to pilot or deploy innovative solutions in health tech, urban tech, and rural tech, and eventually scale their business to other key cities in India. Likewise, Indian startups can tap on Singapore’s connections and innovation ecosystem to expand into Southeast Asia, or work together to co-create solutions to address problem statements of corporates in the region.” Mr Iswaran is currently in Bangalore with a Singapore business delegation. They will meet startup ecosystem players to discuss potential collaboration and strengthen ties between both countries. To expose Singapore entrepreneurs and businesses to opportunities in India’s innovation ecosystem, TiE Singapore will lead a group of Singapore tech startups to Bangalore and Chennai later this year. With Bangalore, innovation launchpads under the GIA network now has connections to 12 cities globally – Bangkok in Thailand; Beijing, Suzhou and Shanghai in China; Berlin and Munich in Germany; Jakarta in Indonesia; Paris in France; Tokyo in Japan; San Francisco in the US; Ho Chi Minh City in Vietnam; and now Bangalore in India. Annex 1: Details of GIA Acceleration Programme between Enterprise Singapore and Anthill Ventures Annex 2: Quotes from MOU signatories - End - For media enquiries and/or photos, please contact: Ms Fazilah Latif Business Partner Corporate Communications T: +65 6279 3751 M: +65 9009 1973 Email: email@example.com Ms Cheng Kiat Loon Deputy Director Corporate Communications T: +65 6433 4465 M: +65 9799 0904 Email: firstname.lastname@example.org About Enterprise Singapore Enterprise Singapore is the government agency championing enterprise development. We work with committed companies to build capabilities, innovate and internationalise. We also support the growth of Singapore as a hub for global trading and startups, and build trust in Singapore’s products and services through quality and standards. Visit www.enterprisesg.gov.sg for more information.