Nordic Singapore Innovation Days: 28 - 30 October 2024
NORDic singapore innovation days 2024
Singapore, 28 October 2024
From October 28 – 30, a delegation of 32 Swedish and Finnish founders, incubators and investors visited Singapore to explore opportunities and synergies between these regions. Held at the Singapore Week of Innovation and Technology (SWITCH), Nordic Singapore Innovation Days kicked off with an inauguration where the Nordic and Singaporean innovation ecosystems converged, starting conversations around collaborations in deep tech and climate tech.
Some key takeaways from the Inauguration:
✅ The Singapore government is investing $25 billion in R&D (2021-2024), creating unique opportunities for deeptech innovation. Luuk Eliens - Singapore Deep-Tech Alliance (SDTA) emphasized that deeptech requires partnerships across sectors, from research to commercialization, with VCs stepping in at the crucial prototype-to-product phase.
✅ Singapore boasts mature IPR, ample funding, and robust academia-industry-government collaboration, but faces challenges like high living costs, limited late-stage funding, and a small home market.
Nordic countries exemplify Triple Helix collaboration, with cities like Tampere pushing for climate neutrality, we learned from Kristian Valkama - Business Tampere.
✅ Joanna Boquist - Vinnova informed that Vinnovas innovation programs offer over 5000 open calls, emphasizing the need for connected ecosystems and cross-border innovation.
And a few panel insights:
💡 “Strategy is about choosing what not to do" said Rickard Levin - Business Sweden in Singapore, urging a focused approach in innovation strategy.
💡 Annabelle Chiong - SGInnovate stressed the importance of securing the first five commercialized contracts for startups to get further investments.
💡 "Deeptech startups need specifik long-term programs" said Boel Rydenå-Swartling - Sting.
💡 Nastaran Baleng-Soultani - RadCap highlighted the need to address global challenges, while asking the right questions; “Is this a problem and are they solving it the right way”?
💡 "Is this something someone is going to pay for?" Harry Krkalo - GLy Capital Management Limited added.
Nordic startups also presented solutions in renewable energy, sustainable materials, and advanced AI through fast-paced pitches to the Singaporean audience, sparking discussions and building networks to strengthen ties between the Nordics and Singapore.
Following the Inauguration, the delegation continued with a series of activities that bridged new interactions with the ecosystems and supported their understanding of the local market.
Some highlights below:
Business Matchmaking
Investor Roundtable
Visit to Singapore Economic Development Board
Nordic Singapore Innovation Days aims to shape pioneering efforts and creating lasting impacts, paving the way for meaningful innovations and a future filled with sustainable solutions and is organized by Vinnova, SISP - Swedish Incubators & Science Parks, Ignite Sweden, Business Sweden, Business Finland, Nordic Innovation House - Singapore, SGInnovate, and Enterprise Singapore.
Nordic Innovation House Singapore is represented by Business Sweden Asia-Pacific, the Embassy of Finland in Singapore, Innovation Norway, the Embassy of Denmark in Singapore, and Business Iceland, and supported by NordicTalks (brought to you by The Nordics, a project under The Nordic Council of Ministers and The Nordic Council) and Nordic Innovation.
About Nordic Talks
‘Nordic Talks’ is a series of talks and podcast episodes addressing the biggest global challenges. Through conversations with some of the brightest minds in the Nordics and their counterparts from around the world we want to provide a space for contemplation and to share inspiration on how to take action on sustainability issues in our everyday lives. All Nordic Talks are dedicated to addressing the UN's Sustainable Development Goal (SDG) challenges.
NORDIC TALKS is brought to you by The Nordics, a project under The Nordic Council of Ministers.
Website: https://www.nordictalks.com/
