SINGAPORE (Sept 24): Enterprise Singapore and 500 Startups have entered into a two-way partnership to support the growth of startups in Singapore and San Francisco.

500 Startups, a Silicon Valley-based venture capital firm, is the latest partner to join Enterprise Singapore’s Global Innovation Alliance (GIA), a network of Singapore and overseas partners in major innovation hubs. GIA is a joint initiative between Enterprise Singapore and the Economic Development Board.

Thomas Jeng (left), director, 500 Startups and Peter Ong, Chairman, ESG, at the launch of the partnership at San Francisco

500 Startups will run Global Launch, a startup acceleration programme under GIA, in San Francisco to help Singapore-based startups establish a presence in the city. Up to 20 startups will be selected for the 16-week programme, with the first cohort starting in November.

The programme consists of a week-long series of workshops that will help them develop their market strategy for the US. This is followed by a two-week boot camp where they will receive coaching on sales, marketing and pitching. During the last stage, startups will be given numerous networking and business pitching opportunities. The programme then ends with an Open House where they can showcase their idea to investors.

Separately, 500 Startups will run a 16-week programme in Singapore for 10 global startups who want to establish a presence in the city-state as to expand into Asia. The programme includes workshops on doing business in the region; mentor matchmaking; and opportunities to bring the startups together with industry professionals, MNCs, and companies for potential collaboration. The programme is set to start in January 2020.

Peter Ong, Chairman of Enterprise Singapore, says, “We also welcome US-based startups to use Singapore’s established ecosystem as a springboard into the growing Southeast Asia region. The two-way flow of exchange will strengthen Singapore’s position as a global-Asia node for technology, innovation and enterprise.”

Singapore-based startups interested in the programme can apply here.