IE Singapore inks MOUs to help tech firms break into China
Date: 02 Oct 2017
INTERNATIONAL Enterprise (IE) Singapore signed two memoranda of understanding (MOUs) with Chinese tech partners last week to help more Singapore companies gain access to the market and the innovation ecosystem in China.
The MOUs detailed partnership deals with AIRMaker, an accelerator that grooms IoT (Internet of Things) startups; NTUitive, the enterprise arm of NTU; and 36Kr, a top Chinese tech blog that spun off into a media platform.
The partnerships aim to provide support through accelerator programmes customised to help tech companies understand the market, test-bed their products as well as partner Chinese companies to implement solutions.
Singapore tech startups will have access to tailor-made programmes to make headway into China's diverse market landscape.
AIRmaker will coordinate and conduct market access programmes to connect Singapore deeptech and medtech companies to the ecosystem in China. They will provide resources such as co-working spaces, market network, support and training to facilitate growth and expansion in Beijing and other parts of China. The first run of the programme will benefit eight to 10 companies working on artificial intelligence solutions.
To widen its reach, IE Singapore and AIRmaker will work with NTUitive to bring the latter's research innovations on board.
36Kr will work with IE Singapore to provide Singapore tech startups with curated accelerator programmes, networks and opportunities to connect to in-market mentors, investors and partners to facilitate growth, or as a source for new technology partnerships in China. This partnership will benefit startups ranging from consumer to medtech.