Australia launches incubator in Singapore

The project is part of the government’s A$11.2 million ($8.5 million) “Landing Pads” initiative, which also includes incubators in China, the US, Israel and Germany. It will provide market-ready Australian companies with a 90-day operational base that facilitates access to Singaporean research institutions, multinational corporations and technology players.

“Singapore’s attractiveness for Australian start-ups is underpinned by its dynamic venture capital and investment community, and its reputation as one of Asia’s leading research and development centers,” Foreign Affairs Minister Julie Bishop said in a statement.

Landing Pads is part of a A$36 million plan by the National Innovation and Science Agenda to improve Australian companies’ global competiveness through international science, research and innovation collaboration. The broader program also includes the A$4.9 million Global Connections Fund, which provides seed funding to company-researcher collaborations.

Singapore has emerged as an attractive environment for establishing incubators. Recent launches in the country include Insurance Group Australia’s Firemark Labs and PayPal’s Start Tank, both of which are focused on the financial technology sector.

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• Topics
• Southeast Asia
• Early-stage
• Australasia
• Singapore
• Australia
• seed