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New Accelerator Matches Israeli Startups with Partners in Singapore

by ISRAEL21c |

What does an Israeli company developing a real-time crime-reporting system have in common with an Israeli company developing an obesity treatment? Each is paired with a Singaporean entity through the Singapore-Israel Industrial R&D Foundation (SIIRD).

Since 1997, 140 joint Israeli-Singaporean industrial R&D projects have been supported and facilitated through this foundation established by the Office of the Chief Scientist in the Israeli Ministry of Economy in cooperation with the Singapore Economic Development Board (EDB).Now, Israeli companies collaborating with Singaporean research institutes are also part of SIIRD.

At the same time, a new accelerator for Israeli startups in cooperation with the National University of Singapore (NUS) is being launched by Startup East, a private initiative connecting Israeli and Asian startups and investors through joint acceleration and training programs.

All of this activity points to the increasing importance of Asia as a trading and R&D partner for Israel. It’s easy to understand why there are so many Israeli initiatives in much larger countries such as China and Japan.Yet despite Singapore’s population of less than six million, it offers something unique.

SIIRD Senior Manager Shirley Refuah explains that Singapore is a gateway to the rest of Asia, both as a physical hub for sea and air cargo and business travel, and as a progressive, tech-savvy, English-speaking business culture enabling Israeli companies to reach potential markets in China, India, Indonesia, Philippines, Thailand and Malaysia. Some 37,000 international companies currently market their products from Singapore.

“Like Israel, Singapore is also a small country without many natural resources, that built itself up in a short time and has become a significant player in the world. Since the 1960s, Israel has had a representative in Singapore and our bilateral relations are strong and based on similar values,” Refuah says.

“Being a small and smart country that seeks to reach the technological forefront in all fields, Singapore is a great place to implement new technology, offering extensive opportunities for Israeli innovation and entrepreneurship.” (via Israel21c)

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