Partnership Opportunities for Singapore companies to collaborate and co-innovate with tech driven German industries
- Key Growth Sectors: Transport and Logistics, Advanced Manufacturing and Engineering, Built Environment, Healthcare and Medical Technology
To facilitate these partnerships, Enterprise Singapore is currently leading a transport and logistics business mission, comprising six local startups and SMEs to understand digital connectivity and smart port initiatives in German cities such as Hamburg. The mission also aims to build cross-border partnerships in trade and connectivity innovation by identifying business opportunities between Singapore and German companies. To understand Germany’s transport and logistics ecosystem, and supply chain networks, the participating companies will be holding discussions with key Port of Hamburg stakeholders, corporate venture capitalists, and maritime players whom Enterprise Singapore’s German partners work closely with. Refer to Annex B for the mission delegation.
SBF, with the support of Enterprise Singapore, is also leading a business delegation of 10 companies to establish networks, explore partnerships and expand their businesses in sectors such as built environment, manufacturing, and professional services. The delegation will embark on two separate tracks, namely “Education, Entrepreneurship & Innovation” and “Advanced Manufacturing & Engineering”, and conduct meetings and site visits with German companies and government agencies. Some of these include The Berlin University of the Arts, and Germany Trade & Invest. Refer to Annex C for further information on SBF’s delegation.
Enterprise Singapore and SBF’s business delegations have been organised in conjunction with President of the Republic of Singapore, Mdm Halimah Yacob’s, first State Visit to Germany from 9 to 13 December 2019. Refer to Annex D for background information on Germany’s economy.
Deepening Business Engagements and Co-innovation with German Enterprises and Organisations
Both business delegations from Enterprise Singapore and SBF participated in the business roundtable Germany-Singapore: A Future-Ready Partnership and witnessed the MOU signing ceremony organised by the Association of German Chambers of Commerce and Industry (DIHK) on 9 December 2019. President Mdm Halimah Yacob was in attendance to witness the MOU signing ceremony.
Nine1 MOUs were signed at the roundtable, with three MOUs highlighted below:
- Enhance and deepen the collaboration between Germany and Singapore in the fields of infrastructure, trade, energy, information technology, and science, amongst others. Signed by SBF’s CEO Mr Ho Meng Kit, and DIHK, the MOU seeks to promote the vast potential of both markets for further trade and investments resulting from stronger business ties between Germany and Singapore.
- Facilitate more co-innovation opportunities for Singapore startups and SMEs. Enterprise Singapore and Munich Network have signed a MOU to embark on co-innovation partnerships. Signed by Enterprise Singapore’s Global Market Director, Mr Clarence Hoe, and Munich Network, the MOU will also explore the organisation of a joint open innovation initiative, details of which will be announced in 2020.
- Raise awareness and visibility of regional infrastructure and business opportunities for Singapore and German companies through information sharing and knowledge building, via workshops and marketing initiatives. Signed by Infrastructure Asia, Executive Director, Mr Seth Tan, and the Singaporean-German Chamber of Industry and Commerce, and Association of German Banks, the MOU aims to enhance partnerships between Singapore-based and German infrastructure companies in Singapore and the region.
Mr Ho Meng Kit, CEO, SBF, “Singapore and Germany have always enjoyed close bilateral ties, evident in the numerous government-level and enterprise-level agreements and partnerships inked between both countries. As the largest economy in Europe with a highly-skilled workforce and well-developed infrastructure, Germany is an attractive market for Singapore businesses to expand into. Singapore companies can also leverage the European Union-Singapore Free Trade Agreement (EUSFTA) which recently came into force to gain competitive advantage for their goods and services. Through this OMW, we also hope to encourage German enterprises to explore investment opportunities in Singapore and consider using Singapore as a gateway to ASEAN.