A two-year accelerator programme will be implemented to help Singapore tech startups expand into Europe
Tuesday, 16 October 2018
MR No: 036/18
1. Enterprise Singapore, the Singapore Economic Development Board (EDB) and German Accelerator Southeast Asia (GASEA) signed a Memorandum of Understanding (MOU) to boost startup collaboration between Singapore and Germany, supporting Singapore-based startups in their expansion to Germany and Europe. With this, Germany is now the newest addition to the Global Innovation Alliance (GIA) network for Singapore. The signing of the MOU was witnessed by Minister for Trade and Industry Chan Chun Sing on the sidelines of the Industrial Transformation Asia-Pacific event in Singapore.
2. GASEA will partner Enterprise Singapore and EDB to organise a two-year programme named “Scalerator” [now renamed Scaler8] to support more than 40 Singapore-based startups in entering Germany, and access the local and wider European markets. The “Scalerator” programme, specifically curated for Singapore-based startups, will commence in Q1 2019.
- The first phase of each run will be held in Singapore and covers market familiarity, preliminary tech evaluation and product-market fit assessments. It includes an optional market immersion trip to Germany at the end of phase one;
- Once deemed ready for the German market, the startup will proceed to the second phase. Startups will have the chance to plug themselves into the German ecosystem, gain first-hand experience of the market, build connections with local mentors and suitable German Mittelstand, as well as understand local employment and regulatory guidelines.
3. Interested Singapore-based startups in areas such as 3D Printing and Precision Composite Solutions, Clean Tech, Deep Tech, Digital Health, Information and Communications Technology, Insurtech, IoT and Smart Energy may express their interest here.
4. Mr Jonathan Lim, Enterprise Singapore’s Director for Startup and GIA said, “Germany is an innovation hub and home to world-renowned companies and research institutions, making it a strategic base for Singapore deep tech startups to access the European market. The partnership with German Accelerator marks the launch of our GIA network in Germany. It will enable Singapore startups to leverage on Berlin and Munich to identify business and co-innovation opportunities for Germany and the European market.”
5. Germany has established strong expertise in manufacturing and environmental technology, and is the world’s third largest goods exporter with machinery and automobiles among its top exports. Singapore startups can partner German Mittelstand in these areas to co-innovate solutions and use Germany as a reference market to enter Europe.
6. “Germany and Singapore share close partnerships in the areas of trade, innovation and talent development. With the inclusion of Germany in the GIA network, we look forward to strengthening these existing partnerships and also driving the growth of both startup ecosystems to benefit our economies.” said Chan Ih Ming, Director, Global Innovation Alliance Programme Office.
7. This partnership comes on the back of GASEA setting up its first Asia office in Singapore in November 2017 to support the entry of German startups into Singapore, and scale up to the region. Through a specially curated programme, GASEA has successfully supported eight German startups since March 2018.
8. Mr Claus Karthe, Founder & CEO of German Accelerator Southeast Asia said, “As the newest Global Innovation Alliance network partner for Singapore, Germany stands as an ideal and very centrally located point of entry to Europe’s prosperous economy for Singapore’s startups. It offers a multicultural landing pad with access to capital, talent, and a vibrant international community of founders. Together with Enterprise Singapore and Singapore Economic Development Board, the Scalerator programme will provide a platform for fruitful cooperation between the Singapore and Germany innovation ecosystem and empower promising growth-stage companies on their way to international success.”