Singapore Delegation Meets Israeli Startups at Event in Tel Aviv
A number of Israeli startups were able to have a meeting with the representatives of notable Singaporean companies at an event held in Tel Aviv.
The said event was held as part of the cooperation between OurCrowd, the crowdfunding platform, and the Singapore Economic Development Board (EDB).
The Singapore delegation
The partnership between OurCrowd and EDB brought the Singapore delegation to Tel Aviv to foster collaborations between large Singaporean companies and Israeli startups for prompting innovations and R&D.
The delegation comprised of representatives from six prominent companies based in Singapore, including UOB (United Overseas Bank), ST Engineering, SingHealth, Meiban, HP Inc. and Flex.
The event drew the participation of about 40 Israel-based startups, which went on for two days, and most of these startups were part of the portfolio of OurCrowd.
They discussed collaboration and investment opportunities with the Singaporean companies in different fields, such as precision engineering, med-tech and health, sustainability and more.
Some of the participating startups included Hailo, 3D Signals, DreamMed, D-ID, OncoHost, Largix and Genopore.
The Singapore government had introduced an initiative called the Global Innovation Alliance (GIA), which is aimed at establishing cross-border partnerships between the country and other major global innovation hubs.
Under this initiative, the EDB organized this event in Tel Aviv, as the Economic Development Board (EDB) and Enterprise Singapore are responsible for overseeing GIA’s activities jointly.
The goal is to assist enterprises in Singapore with overseas companies for innovation and research and development collaborations.
The focus of Enterprise Singapore is to help startups in Singapore, or small and medium enterprises, to find overseas innovation hubs and EDB does the same for large companies in the country.
OurCrowd’s Head of Business Development, who was recently appointed, Yakir Machluf said that the delegation’s arrival was good news for the tech industry in Israel.
He said that it would give Israel access to one of the most influential and strongest economies in Asia.
He added that the larger corporations in Singapore are looking for new ways to creativity and innovation and startups in Israel had demonstrated excellent capabilities in all areas of technologies.
He also stated that the meetings that had taken place would result in promising and concrete collaborations in the future.
EDB’s Vice President of Innovation Economy, Lily Phua said that they were happy to organize this event in Israel with their partnership with OurCrowd.
She said that this gave the opportunity to large companies based in Singapore to meet with startups in Israel for discussing innovation collaborations for their business.
She said that this was part of the efforts of the EDB to help companies in enhancing their capacity for creating new businesses and products outside of Singapore.
She went on to say that the companies would be able to leverage the extensive network of OurCrowd and the technological capabilities of Israeli startups, which can help the two countries strengthen their innovation ties.
Founded in 2013, OurCrowd boasts about 200,000 registered members, who are spread across 195 countries.