SINGAPORE (Aug 29): Singapore statutory boards Economic Development Board (EDB) and Enterprise Singapore have signed a memorandum of understanding (MoU) with the Japan External Trade Organisation (JETRO) to collaborate on and support the growth of enterprises and start-ups based in Japan and Singapore.
Under the MoU, all three parties will facilitate access and opportunities through creating initiatives, events and information exchanges for these start-ups and businesses, in the process strengthening linkages between the innovation ecosystem between Singapore and Japan.
The MoU also represents the expansion of Singapore’s Global Innovation Alliance (GIA) initiative to include Japan in its network, say Enterprise Singapore and EDB in a joint release on Wednesday.
The signing, which took place today at the sidelines of the ASEAN Economic Ministers’ Meeting 2018, was witnessed by Singapore’s Minister for Trade and Industry, Chan Chun Sing, as well as Japan’s Minister of Economy, Trade and Industry (METI) Hiroshige Seko.
Ted Tan, deputy CEO, Enterprise Singapore, says the partnership will enable Singapore start-ups to tap on Japan’s strong innovation ecosystem and enable high-potential Japanese start-ups to jointly enter the Asean market via Singapore.
Having Japan join the GIA network further builds on the existing economic partnership and bilateral relations between the two countries, adds Beh Kian Teik, EDB’s assistant managing director and chief digital officer.
“This partnership will provide valuable access and opportunities for Singapore and Japanese enterprises to connect, partner and co-create solutions, thereby bolstering the startup and innovation ecosystems in both countries,” says Beh.
