By THE NATION
The company has solidified its leading position by expanding into Singapore with support from Enterprise Singapore, the government agency under the Singapore Ministry of Trade and Industry driving enterprise development. As part of its work, the agency also develops Singapore as a global-Asia node for startup and innovation. RISE is supported under the agency’s Startup SG Accelerator programme providing mentorship and resources to support the growth of start-ups based in Singapore. RISE’s vision is to build up the region’s capabilities and community, to exchange ideas and to internationalise both new and old businesses alike. It aims to transform Southeast Asia into one of the most productive, dynamic and vibrant global hubs for corporate innovation, global trading and start-ups ecosystem in the world.
As a Start-up SG Accelerator partner, RISE will help Singaporean start-ups to plug into Thailand’s innovation ecosystem and work with local partners to contribute solutions to the market needs and globally. This will be done through utilizsing RISE’s own network of more than 200 corporate and governmental agencies worldwide to connect and catapult start-ups into a wider international arena. This two-way relationship also means that more than 1,000 Growth-stage Start0ups in the RISE Network can make Singapore the first country to launch their business in Southeast Asia outside their home country, and reap the benefits of directly accessing one of the world’s most start-up friendly cities in the world.
With its singular blend of Eastern and Western perspectives and outlooks, Singapore an unmatched location for live testing of new ideas, products, and services. Successes and failures can be gauged quickly, and in the case of success will open a gateway to the wider Southeast and North Asia market.
“Many start-ups fail not because they lack great ideas but because they lack product-market fit. Product development should be driven by a market need and customer validation from potential users, said Jonathan Lim, Enterprise Singapore’s Director for Global Innovation Network.
“Against this backdrop, Enterprise Singapore is happy to partner with RISE in its inaugural AI program to enable startups to work closely with regional corporates to co-develop solutions targeted at resolving specific pain points and problem statements. Innovation does not occur in isolation and we need various ecosystem players such as RISE to connect people and ideas to foster collaboration.”