Enterprise Singapore today (24 September 2019) announced a new partnership with Silicon Valley-based accelerator and investor, 500 Startups.
Their two-way collaboration will help tech startups from Singapore establish a presence in San Francisco, and vice versa, through “market immersion, mentorship and access to relevant networks”.
500 Startups is the latest partner to join Enterprise Singapore’s Global Innovation Alliance (GIA), a network of Singapore and overseas partners that provide support to firms with a focus on technology and innovation.
Together, both organisations will run Global Launch.
Up to 20 Singapore startups will be chosen to enter the programme, which kicks off with a week-long series of workshops to help them develop their market strategy for the US.
They will then go through a two-week intensive boot camp in San Francisco, where they receive individualised coaching on sales, marketing and pitching.
During the last stage, startups will benefit from networking and business pitching opportunities to build up strategic connections.
The 16-week programme will finally culminate in an Open House where the startups can showcase their ideas to potential investors.
The first Global Launch cohort is expected to commence in November 2019.
Likewise, 500 Startups will offer a dedicated programme to help about 10 global startups expand to Singapore as a launching pad into Asia, starting January 2020.
As part of the partnership, 500 Startups will also open up mentorship and training opportunities to other Singapore startups that are not participating in Global Launch, but also looking to enter the US market.
Startups can tap on them for guidance on business development, briefings on business and technology trends, and marketing support.
Enterprise Singapore Chairman Peter Ong said the partnership with 500 Startups will help Singapore entrepreneurs “leverage their extensive networks to gain in-roads into the Silicon Valley ecosystem”.
“We also welcome US-based startups to use Singapore’s established ecosystem as a springboard into the growing Southeast Asia region. The two-way flow of exchange will strengthen Singapore’s position as a global-Asia node for technology, innovation and enterprise,” he added.
Interested tech startups based in Singapore can apply for the Global Launch programme here.
Featured Image Credit: Enterprise Singapore