- Partnership to bring fast-growing startups and tech SMEs to scale across the thriving MENA region, burgeoning South Korean startup sector and London, Europe’s tech startup capital1.
- These promising startups and tech SMEs can expect to access new customers, investors, and partners and expand their businesses into new regions that have the demographics, opportunities and openness for scale and growth.
Rainmaking Innovation and Enterprise Singapore (“EnterpriseSG”) has lately announced that they have signed a partnership agreement to run the Global Innovation Alliance (“GIA”) acceleration programmes in Abu Dhabi, Seoul and London. These programmes will leverage Rainmaking’s deep industry connectivity, capability building and global footprint to help more Singapore-based startups and tech SMEs access market opportunities in these international markets. An initiative of the Singapore government, the GIA is a network of Singapore and overseas partners in major innovation hubs and key markets with a focus on technology and innovation.
The three markets represent the immense potential for Singaporean and APAC startups to connect into vital pipelines and global startup ecosystems, opening up tremendous opportunities beyond domestic shores. The agreement signals Rainmaking and EnterpriseSG’s commitment to work together to support companies expanding into Abu Dhabi, Seoul and London via:
- Capability development
- Access to shared networks and industry expertise
- Access to funding opportunities
- Development of strategic partnerships and commercial relationships
Brian Lim, Head of the Rainmaking Expand Program said,
“We are delighted to be appointed as EnterpriseSG’s partner for the Global Innovation Alliance network to manage acceleration programmes in three global markets. This partnership highlights the importance of pursuing collaborations with businesses, governments, investors, and startups to create a cohesive and thriving ecosystem. At Rainmaking, we are extremely proud of our entrepreneurial DNA and heritage and track record that has allowed us to successfully create unique programs such as this to work directly with promising startup founders and tech SMEs – navigating the terrain to find the right partners, pipeline and product-market fit to scale and grow into a new geography. We remain committed to driving value for our startups and the wider community to fulfil the growth aspirations of founders globally.”
Jonathan Lim, EnterpriseSG’s Director for Global Innovation Network, said,
“We are happy to partner Rainmaking on the GIA acceleration programmes in Abu Dhabi, London and Seoul. The GIA network connects Singapore companies to global innovation ecosystems and supports them to identify business and collaboration opportunities. Launching the GIA programmes in these vibrant innovation nodes will give more options to Singapore companies across multiple sectors including Fintech, Mobility, AI, Healthcare, Smart City, and Advanced Manufacturing, to further bolster their growth and expansion beyond Singapore.”
In Abu Dhabi, Seoul and London, the GIA programmes will run for 12 weeks. Participants will get to build knowledge of the market business regulations and culture, as well as receive advice on market entry strategies, through a series of online workshops and coaching sessions conducted over eight weeks. They would then undergo a four-week in-market immersion programme to connect with potential customers and partners via customised business matching and run in-market commercial experiments to test the viability of their solutions.
Expected to commence in 2023, the programmes in Abu Dhabi, Seoul and London will each support at least 30 Singapore-based startups and tech SMEs to enter the market over the next two years.
