Singapore-based The Action Community for Entrepreneurship (ACE) opened today a new centre in Bangkok to help local startups expand into Thailand.
This centre is the result of a collaborative effort between innovation space True Digital Park (TDPK) and ACE, which signed a memorandum of understanding last year.
ACE is a private-sector-led firm that helps to drive entrepreneurship and innovation in Singapore, and this centre is the second of its kind that it has opened. The first was opened in Nanjing, China earlier this year.
Located at TDPK, the centre is open to startups and enterprises across all industries.
It provides support for when they begin operating in foreign markets, such as access to business matching events and legal advisory sessions.
Internationalisation Is A Key Growth Strategy
In line with the Bangkok centre launch, 14 Singapore startups that are keen on expanding to Thailand have taken part in a four-day market immersion programme to explore potential business opportunities.
Participating startups include container logistics firm Haulio and agri-tech firm Smart Animal Husbandry Care.
According to ACE, given the limited size of Singapore’s domestic market, internationalisation is core to the growth strategies of local startups.
“In an increasingly uncertain and homogeneous Southeast Asian region, it is important as fellow ecosystem developers to come together as friends, support one another, and help our startups regionalise and gain strong footholds in the markets that are of strategic significance to them,” said Edmas Neo, CEO of ACE.
Featured Image Credit: ACE