Eindhoven, Netherlands – 05/11/2024 – HighTechXL is proud to announce its collaboration with Enterprise Singapore (EnterpriseSG) as part of a strategic initiative to expand the Global Innovation Alliance (GIA) to the Netherlands. This initiative aims to foster bi-directional technology and innovation partnerships. The expansion introduces Eindhoven as a new GIA node, designed to facilitate market access and collaboration between Singaporeans and the Dutch deep-tech ecosystem.
This strategic collaboration has been formalized at the SWITCH event (Singapore Week of Innovation and Technology), which took place from October 28 to 30, 2024. This premier global gathering brought together over 20,000 participants, including startups, investors, and corporations, from across the world, underscoring the significance of deep-tech innovation in addressing global challenges.
During the three-day event, attendees were captivated by insights into the collaboration that promises to strengthen cross-border connections between the Dutch and Singaporean deep-tech ecosystems.
“We are extremely excited to make this collaboration a reality. It’s crucial to team up with leading ecosystems to tackle major societal challenges” said John Bell, HighTechXL CEO.
Singapore as a Deep-Tech Hub in SEA
The collaboration sees HighTechXL cooperating not only with Enterprise Singapore but also with influential players in Singapore’s tech landscape, including SGInnovate, SEEDS Capital, A*Star, NTU, NUS and EDBI, to create a robust support network for deep-tech startups. The announcement was formalized by Bernice Tay from Enterprise Singapore and Ms. Anneke Adema, Netherlands’ Ambassador, who on stage shared the commitment to join forces in innovation and cross-border growth.
Singapore is one of the top innovation hubs across the world, ranking consistently among the top 10 countries on the Global Innovation Index (GII). The city-state moved up to rank fifth in the 2023 edition of GII, which also found it to be number one in the world on innovation indicators such as government effectiveness, ICT access, venture capital investors and high-tech manufacturing.
In 2023, Singapore’s early-stage deep-tech startups experienced a 59% year-on-year growth in funding, signaling increased investor confidence. The number of seed-stage deals grew by 1.5 times compared to the previous year, reflecting a robust environment for early-stage ventures. This positive trend in funding and deal volume indicates a strong pool of entrepreneurial activity and support.
Deep-tech lures the interest of larger investors: Singapore accounted for about three-quarters of the total deep-tech deal volume in Southeast Asia in the first nine months of 2023, with HealthTech and GreenTech attracting the most deals. In line with the growing maturity of local deep-tech startups, there was a 36% year-on-year surge in deal volume in 2023.
“Singapore is renowned for its deep-tech focus, bolstered by a government and top tech institutes that actively supports innovation and research,” noted John Bell, HighTechXL CEO. “Its strategic position as a gateway to the Asian market makes it an ideal destination for Dutch startups aiming to scale up their R&D capabilities and attract potential investment.”
Dutch-Singapore Deep-Tech Expansion Program:
Crossing Borders, Conquering Markets
As Singapore’s innovation agency, Enterprise Singapore is looking to help Singaporean startups and scale-ups by providing them with an outstanding (global) ecosystem of partners to expand to foreign markets. To that end, Enterprise Singapore’s Global Innovation Alliance (GIA) is specifically looking to develop a novel partnership in the Netherlands to enable Singaporean deep-tech startups and scale-ups to expand to the Netherlands. At the same time, the partnership also provides a platform for Dutch deep-tech SMEs to expand into the Singaporean market and beyond.
Dutch-Singapore Deep-Tech Expansion Program: Crossing Borders, Conquering Markets is the centerpiece of this collaboration, a carefully structured initiative aimed at supporting deep-tech startups and scale-ups from both Singapore and the Netherlands as they expand into Eindhoven and Singapore.
For the Dutch deep-tech ventures, this programme offers a platform to successfully expand and enter the Singaporean market, at the heart of Southeast Asia’s deep-tech ecosystem, getting many opportunities for technical development, industry connections and funding possibilities. The Dutch-Singapore Deep-Tech Expansion Program provides startups with a comprehensive framework that includes:
- Industry Introductions: Connecting startups with potential customers and strategic partners.
- Access to Ecosystem Networks: Tapping into investors, research institutes, and government agencies.
- Market Intelligence: Equipping participants with in-depth knowledge to navigate and localize their businesses effectively for the target market.
- Expert Mentorship: Providing guidance from experienced mentors and Entrepreneurs-in-Residence (EIR) to fine-tune market strategies.
- Alumni Engagement and Networking: Ongoing support through events and an active alumni network.
- PR and Marketing Assistance: Helping startups enhance their visibility and brand presence.
Singapore is your next step. Applications open soon!
The first call for applications opens 11th of November 2024, with the program officially commencing in January 2025 and running for seven months. The initiative is powered by a coalition of HighTechXL, RVO, High Tech Campus Eindhoven, Enterprise Singapore, and the Singapore Deep-Tech Alliance. This collaboration leverages strong, established partnerships that mobilize the innovation ecosystems of both countries for shared growth and technological advancement.
Startups interested in participating should stay tuned for updates via HighTechXL’s website and social media channels or can already reach out via singapore@hightechxl.com.
