Singapore - one of the world’s easiest places to do business
Singapore is ranked as the world’s second easiest place to do business in the Doing Business 2019 report (World Bank Group, 2018). The country with a stable economy and global connectivity scores in ease of doing and starting a business. Also the access to top quality talent has been noted: Singapore has been ranked the first in global startup talent (Startup Genome, 2017).
“Singapore is THE regional hub in Southeast Asia with great infrastructure, government support programs, decision makers and it captures roughly 50% of regional VC money. And yes - English is the official language. What else would you need?” Sami Jääskeläinen, Community Director of Nordic Innovation House, summarizes and continues “it’s hard to imagine that any other country in this region could be able to provide a better starting point right now”.
For Finland and the EU, Singapore is the most important trading partner in Southeast Asia. Relationships between the EU and Singapore took new steps in October 2018, when the two parties signed three agreements: the EU-Singapore Trade Agreement, the EU-Singapore Investment Protection Agreement and the Framework Agreement on Partnership and Cooperation.
Maximizing global chances with Nordic collaboration
Besides good collaboration between the EU and Singapore, the Nordic countries have put even more muscles together in Singapore. A unique form of Nordic collaboration between Finland, Denmark, Sweden, Norway and Iceland meets at Nordic Innovation House. The concept is backed by Nordic Innovation and the Nordic Council of Ministers, and supported by a strong consortium consisting of Nordic government agencies working with innovation and business.
“This is a hub for Nordic tech scale-ups seeking to expand their network and speed up their market growth in the region. It's also important to understand that it is a crossroad for 640+ million people and potential customers in Southeast Asia” describes Jääskeläinen.
Nordic Innovation House is symbolized as ‘a bridge connecting cold corners of the globe with the main hotspots around the world.’ Nordic companies entering global markets can utilize a softlanding concept that brings them together with local communities of investors, technology partners and service providers in four locations: Silicon Valley, New York, Singapore and Hong Kong.
Meet the Nordic Innovation House communities in four locations
Nordic Innovation House in Silicon Valley offers Nordic companies workspace, community and network at our prime location in downtown Palo Alto. We help you get connected with the local ecosystem and start building your network and business in the US. Find your product-market fit in our TINC Accelerator program, turn research into business in REACH, or get market insights in our focused programs for companies operating in different technology fields.
Nordic Innovation House – New York offers soft landing services to Nordic companies expanding to the U.S. markets via New York. Our Program Director serves as the local resource to help member companies on strategic and practical matters, as well as facilitate introductions to expert partners, investors and community members. We offer meetings with carefully selected mentors as well as participation in advisory workshops and round-tables, and connection to the unique entrepreneurial ecosystem in New York.
Singapore House celebrated it’s soft launch in September 2018 and this Southeast Asia launchpad is now ready to serve Nordic startups and growth companies. Focus areas in 2019 will be Nordic Digital Health, Circular Economy and Smart Cities.
Hong Kong is the most recent addition to the Nordic Innovation House family. This house will beside Hong Kong also include the Greater Bay Area. Focus areas will be IoT since Shenzhen is just 15 min away with the speed train, creative industries like gaming and FashionTech and the last focus area will be MedTech.
Text: Heidi Tawast, Community Manager, FiBAN
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