Global Innovation Alliance network expands to Vietnam | Singapore Business Review - The Latest News, Headlines, Insight, Commentary & Analysis

Global Innovation Alliance network expands to Vietnam

ESG, Quest Ventures and SIHUB will help Singapore startups set up, test-bed and commercialise their solutions in Ho Chi Minh City.

Singapore’s technology startups and small and medium-sized enterprises (SMEs) will gain access to Vietnam’s market following the expansion of the Global Innovation Alliance network to Ho Chi Minh City, an announcement by Enterprise Singapore (ESG) revealed.

ESG, venture fund Quest Ventures and Saigon Innovation Hub (SIHUB) signed a memorandum of understanding (MOU) to boost collaborations between Singapore startups and SMEs, and their counterparts in Vietnam. Under the MOU, the three partners will organise curated programmes to introduce Singapore startups to the innovation ecosystem in Ho Chi Minh City, as well as connect them to partners, investors and customers in Vietnam.

“This will help Singapore startups set up, test-bed and commercialise their solutions, as well as form business partnerships in HCMC and Vietnam. It will also support Vietnamese startups to set up in Singapore,” ESG said.

Targeted to commence in September 2019, the first cohort of the programme will involve up to ten Singapore startups, with another two runs of the programme expected to take place over the next twelve months.

Meanwhile, as part of the GIA, Ngee Ann Polytechnic (NP) signed six MOUs with Vietnamese startups and Quest Ventures. Under the MOU, NP aims to send 100 students over the next two years through its Global Entrepreneurial Internship Programme to undertake internships with their MOU partners, and expose them to the vibrant innovation ecosystem and business scene in Vietnam. To support this initiative, NP will also be setting up its first GIA office in Ho Chi Minh City in August.

Another partnership sealed was the MOU signed between Singapore company Finaxar and Vietnam’s Indovina Bank to improve access to financing for SMEs in Vietnam using a first-in-region, fully online and automated credit financing solution specifically tailored for them. SMEs will be able to access working capital, choosing when and how much financing they need, all online through this partnership, ESG explained.

With Ho Chi Minh City, the GIA network now has connections to 11 cities globally comprising Bangkok in Thailand, Beijing, Suzhou and Shanghai in China, Berlin and Munich in Germany, Jakarta in Indonesia, Paris in France, Tokyo in Japan and San Francisco in the US. 

Get Singapore Business Review - The Latest News, Headlines, Insight, Commentary & Analysis in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

And SG, US affirm American presence in Southeast Asia as “vital.”
This chart from the inaugural Independent Reserve Cryptocurrency Index shows that more than 50% of Singaporeans believe Bitcoin’s value will increase past $50,000 in 2030.
This included one-off partial distribution of divestment gains of S$20m.
This is attributed to the lower rental reliefs to retail tenants at Festival Walk and higher average occupancy from IXINAL Monzen-nakacho Building.
The Tripartite Committee on Workplace Fairness targets to complete its work by H1 2022.
A total of 811 condos were sold in the last quarter, the highest since Q4 2010.
The SMAs are focused on global infrastructure projects.
The company said their income was driven by its latest acquisitions.
The Jobs Support Scheme has been extended to 18 August.
The bank is now allowing small- and medium-sized enterprises to avail the loan digitally.
Inflation for all items meanwhile remained unchanged at 2.4% YoY.
SMEs that qualify for the UOB Start digital pack will be offered six months of free access.
This was supported by grants extended by the government, such as the Jobs Support Scheme.
The group’s profits after tax ballooned by as much as 138.4%.