Date
12 December 2017
The Global Innovation Alliance (Beijing) led by International Enterprise Singapore will set up a shared office in Beijing, the first step in GIA's foray into the Chinese market. Photo: Bloomberg
The Global Innovation Alliance (Beijing) led by International Enterprise Singapore will set up a shared office in Beijing, the first step in GIA's foray into the Chinese market. Photo: Bloomberg

Singapore to establish innovation alliance in Beijing

Singapore’s Global Innovation Alliance (GIA) will launch an initiative in China, linking the technological landscapes of both countries. 

In its 2016 report, the Committee on the Future Economy of Singapore recommended setting up the GIA which focuses on technology and innovation and aims to boost linkages and enhance partnerships with the world’s leading innovation hubs.

It also seeks to increase access and opportunities for Singapore’s students and enterprises, the Hong Kong Economic Journal reports.

Southeast Asia markets

The GIA (Beijing) led by International Enterprise Singapore (IE Singapore) will set up a co-working space in Beijing, facilitating idea exchanges and encouraging linkage among entrepreneurs and investors from both sides.

Beijing is only the first step in GIA’s foray into the Chinese market, said Ho Chee Hin, IE Singapore group director for China. The GIA is interested in expanding its network into cities such as Shanghai, Shenzhen, Suzhou and Wuhan.

He said companies in both countries can work together to venture into Southeast Asian markets.

In addition, Singapore’s Minister for Finance Heng Swee Keat said China’s startup landscape is filled with potential and dynamics. Different talent can come together to exchange ideas, producing innovative startup proposals.

Startups can take advantage of market resources in China, including accelerators, incubators, shared offices and venture capital. Large corporations can bring in new technologies and new proposals from all around the globe through the partnership network.

Heng urged startups in China and Singapore to know different stakeholders of the startup landscape using the alliance. The alliance’s network can create many overseas opportunities for university students, entrepreneurs and business owners, he said.

He said Singapore’s tertiary institutions will send more students to China. These students will learn from foreign entrepreneurs to develop innovative entrepreneurial ideas.

This article appeared in the Hong Kong Economic Journal on Nov. 28

Translation by Jonathan Chong

[Chinese version 中文版]

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