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The Smart Nation was an initiative launched by Prime Minister Lee Hsien Loong on 24 November 2014. [3] In financial year 2017, the government had set aside $2.4 billion to support the initiative, [4] which involves the government purchasing services from technology startups rather than offering grants to support them. [5]
It was established in 2016 to consolidate innovation activities in Singapore. SGInnovate was founded to advance and scale deep technology products from Singapore. [2] [3] [4] SGInnovate manages a portion of the Startup SG Equity fund worth $200 million. It co-invests in startups that specialize in research-driven technology.
For startups, it partners with incubators, angel investors, and government agencies to develop the startup ecosystem in Singapore through the slew of programs managed by Startup SG. [13] For SMEs, it provides assistance in improving business capabilities through various grants and programs, as well as access to technology and research institutes.
Singapore is launching a new fund to support international coproduction of TV series. It will also expand government investment into virtual production (VP). The two moves were announced on ...
In 2016, A*STAR's commercialisation arm, A*ccelerate (formerly ETPL) opened the first-of-its-kind "open innovation lab" and the incubator known as A*START Central with 10 medtech, biotech and Internet start-ups on board. It can support up to 25 start-ups with conducive infrastructure, mentorship, funding and access to business networks. [19]
EDB received an additional grant of S$40 million to develop Jurong Industrial Estate from the Singapore government. [13] [14] 1962 was also the year which Singapore begun to actively woo overseas industrialists as such the Japanese, [15] with some indicating interests in joint development projects and sending study missions to Singapore. [16]
[2] [4] [5] [6] The Antler "Residency" helps entrepreneurs find co-founders and teams to help develop their business idea, and invests in the startups that are thereby generated. [2] [4] [6] [7] The first program was launched in Singapore in 2018 where 1,400 people applied, 62 were accepted and at the end, 13 companies were selected. [2]
BLOCK71 Singapore, commonly known as "Blk71", is a factory building located in the Ayer Rajah Industrial Estate of one-north, Singapore. The Economist referred to BLOCK71 as the heart of Singapore's technology start-up ecosystem [ 1 ] and the world's most tightly packed entrepreneurial ecosystem. [ 2 ]