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MARKETS & INVESTING | Staff Reporter, Singapore

Singapore and Germany to collaborate on supporting SMEs

The two signed a memorandum of agreement for bilateral partnership.

Enterprise Singapore (ESG) signed a Memorandum of Understanding (MOU) with German Accelerator to help facilitate bilateral partnerships for innovation, knowledge exchange, and the sharing of best practices between Singaporean and German companies.

ESG also facilitated SPETA’s partnership with German industry association IVAM FACHVERBAND Für MIKROTECHNIK (IVAM) 6 to collaborate on the adoption of Industry 4.0 technologies and microtechnology. “As a start, both parties will list their members in each other’s member directory to enable companies to connect to potential partners,” it said.

Another deal involved the establishment of a Composite Application Centre (CAC) in Singapore through an MOU between Composite Cluster Singapore (CCS), Sakura Tech, and German companies Covestro and Hufschmied.

“The CAC will work closely with international leaders in composites research and provide a platform for companies to tap the latest technologies and create industry solutions. The four parties will drive innovation efforts and promote their products and services in overseas markets, especially Asia,” ESG added.

The agreements were signed at the Germany-Singapore Business Forum (GSBF).

ESG, along with the Singapore Precision Engineering and Technology Association (SPETA) and the Economic Development Board (EDB), is currently leading 39 Singapore companies to Germany on business missions and to participate in the first-ever Singapore Pavilion at industrial technology show, Hannover Messe.

ESG commented, “This significant partnership between Enterprise Singapore, EDB, SPET and APA is aimed at facilitating collaboration between Singapore SMEs and German Mittelstand, thereby helping more Singapore SMEs expand their global networks, learn best practices, access new capabilities, form new partnerships and tap new customer segments.”

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