Australia has announced the launch of its fifth Landing Pad to assist Australian entrepreneurs operating businesses in the island state.
An initiative of the Australian Trade and Investment Commission (Austrade), such facilities have already been opened in Berlin, San Francisco, Shanghai and Tel Aviv. They are established to provide market-ready Australian startups with access to some of the world’s most renowned innovation and startup ecosystems.
The newly unveiled center, set up through the joint efforts of the Australian Trade Commission and SGInnovate, will be situated at BASH, a startup complex in Singapore. It aims to provide Australian entrepreneurs an access to a network of contacts and opportunities in Singapore and the ASEAN. It will also help in flourishing in-market business development, investment, and mentorship opportunities for them. This, thereby, will act as a gateway to over 600 million consumers across Southeast Asia.
Singapore exhibits an excellent access to some of the fastest-growing services markets in the world. Its growing business relationships with various Asian economies suggest Landing Pad participants will have the advantage to leverage the relations with affluent consumers and multinational corporations to scale their business.
Singapore’s Minister for Trade and Industry S. Iswaran, and Australia’s Minister for Foreign Affairs, Julie Bishop were present at the inauguration that took place today (13 March). Iswaran said, this initiative will strengthen Australia’s already close bilateral ties with the nation, and deliver meaningful outcomes for business in both countries. In the speech, he said,
Besides increasing entrepreneurial activity and venture funding, another essential factor for innovation is the free flow and exchange of information and ideas between individuals, companies, institutions and countries. This landing pad serves precisely that purpose.
He also added this will make its participants cross geographical and cultural boundaries, stimulating an open mindset that allows collaborations for innovation.
While, Bishop was quoted saying, that this center is precisely a part of an agreement named Singapore-Australia Comprehensive Strategic Partnership which was sealed between Australia and Singapore in May 2016.
The startups interested in joining Landing Pad will get a short-term operations base for 90 days, a way to penetrate Austrade’s global network and relevant contacts to assist the companies. The applications are now open for placement in any of the five cities where the centers are located.
Four companies that will be seen taking part in Singapore’s Landing Pad Programme are – ebilities, hipflask, Quitch and Zed Technologies.