Singapore: Singapore Enterprise Development Council (ESG) Tuesday (November 9).
At the same time, Russian start-ups and SMEs will be able to use Singapore as a springboard to explore opportunities in Southeast Asia.
Minister of Trade and Industry Yan Jinyong announced the expansion of GIA in a keynote speech during Singapore Innovation and Technology Week, a plan to develop cross-border partnerships.
Mr. Edwin Chow, Assistant CEO of ESG Innovation and Enterprise, said: “As Moscow joins our GIA network, Singapore start-ups and SMEs will be able to obtain innovation and business partners as they expand into Russia and other regions.
“We also welcome Russian and other global start-ups through this program to use Singapore as a base to open up the Southeast Asian market.”
ESG said that Singapore companies are showing increasing interest in business opportunities in Russia.
The agency stated: “In 2020, more than 30 Singapore companies participated in Russia-related corporate innovation calls and business matching activities organized by ESG and our partners.”
ESG added that Russia’s entrepreneurial ecosystem has grown steadily, with total investment increasing from US$768 million in 2018 to US$868 million in 2019.
ESG stated that it plans to launch a “two-way acceleration plan” in cooperation with designated GIA partners, and more details will be announced later.
“These programs will help Singapore companies in different technology industries have a deeper understanding of Russian business regulations and culture, meet potential partners and enter the market; and cooperate with foreign companies to develop business in Singapore and establish new partnerships in Southeast Asia. ,” ESG said.
ESG stated that despite the impact of the COVID-19 pandemic, since 2020, the GIA acceleration program has more than 300 participants.
With Moscow joining GIA, the network is now in 16 cities around the world. Other GIA cities include Bangalore, Jakarta, London, San Francisco, Shanghai and Tokyo.
