SINGAPORE (Aug 30): Singapore’s Action Community for Enterprise (ACE) today signed a memorandum of understanding (MOU) with Advantage Austria and Global Incubator Network (GIN) to strengthen the startup ecosystems of Singapore and Austria, as well as to facilitate market access between the two countries.

Under the MOU, the companies will organise events and workshops to raise awareness of Austria as a launchpad to the European market for Singapore startups, and correspondingly, Singapore as a launchpad to the Asian market for Austrian startups.

As part of efforts by the ACE International Centre (ACEIC) to help startups venture overseas, this initiative aims to facilitate greater involvement of investor networks in Singapore and Austria where Singaporean and Austrian investors will be able to tap into each other’s startup ecosystem for market access and investment.

ACEIC is a dedicated one-stop centre for local and international startups looking to scale up and internationalise their business. In partnership with local government agencies, it helps create opportunities for startups globally.

ACEIC also runs the ACE Market Access Programme to drive the growth of startups into overseas markets.

Mark Hon, chairman of ACE says, “The signing of the MOU marks the start of a close cooperation to help ACE, Advantage Austria, and GIN gain knowledge and insights on the startup ecosystems of Singapore and Austria for start-ups to thrive in. Through this mutually beneficial partnership, we aim to strengthen the investor and entrepreneur networks of both countries which will hopefully act as the startup ecosystems’ launchpads for the Asian and the European markets.”