Opportunities for European SmartCityTech companies in Singapore

5,6 million inhabitants, 716 km², 87.832$ GDP per capita (PPP), $19 billion investment in R&D, low country risk according to OCDE. Just a few facts on Singapore. Doing business with this country looks appealing for EU companies. Where exactly are the opportunities?

by DSP Valley

Being 3rd on the Global Competitiveness index, Singapore is recognized as one of the ‘smartest’ cities in the world, the 2nd smartest according to the 2017 Smart City Index. It is a young nation, strongly led by a single layer of government with a strong vision towards the future. An example of that is the Smart Nation Initiative, launched by the government on August 21.

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Singapore key strategic projects

This initiative is about creating new opportunities in a digital age, and transforming the way people live, work and play, so that Singapore remains an outstanding global city. To make this happen, the government defined a few key strategic projects which will be implemented the following years.

Singapore is a young nation, led by a single layer of government with a strong vision towards the future.

Multi-annual plan

As leading partner of the SmartCityTech partnership, DSP Valley is exploring what Singapore can mean for EU tech companies, how EU companies can enter Singapore and, through Singapore, the ASEAN market. The SmartCityTech partnership is elaborating on a multi-annual plan to bridge EU stakeholders with opportunities.

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Firstly, SmartCityTech established a working relationship with a local partner, IPI-Singapore. As complement to the representations of EU regions in Singapore, IPI is the local partner for SmartCityTech to set up concrete activities. IPI focuses on industry needs and translates their innovation objectives into specific technology requirements enabling enterprises to develop new processes, products and services. Over the years, IPI developed a global network of technology partners and a technology marketplace featuring innovative technology from a wide range of industries. 

For 2018 SmartCityTech and IPI-Singapore scheduled the following activities:

Mission to the World Cities Summit in Singapore July 8 – July 12, 2018. The World Cities Summit is a leading platform for government leaders and industry experts to address livable and sustainable city challenges, share integrated urban solutions and forge new partnerships. The summit is held in conjunction with the Singapore International Water Week, Clean Enviro Summit Singapore and the Singapore International Transport Congress and Exhibition. The four summits mobilize 21.000 delegates on topics relevant for SmartCityTech stakeholders. In close cooperation with IPI and representations of EU regions, SmartCityTech is organising a full program which consists of match making activities with stakeholders from Singapore, site visits, participation to the World Cities and informal dinners. The ultimate objective is to get acquainted with Singapore and gain more insight into the opportunities for SmartCityTech stakeholders.

A multi-annual plan with targeted actions is key to build a relationship and to do resilient business with other regions.

SmartCityTech - Singapore 2Reverse mission to SmartCity Expo in Barcelona November 13 – 15, 2018. New business is not built overnight. Trust between business partners has to grow. Therefore SmartCityTech is organising a reverse mission and invites stakeholders from Singapore to visit the SmartCityExpo, to join the SmartCityTech program, elaborate on contacts with EU stakeholders and build joint projects.

DSP Valley, as well as the other SmartCityTech partners, is strongly convinced that a multi-annual plan with targeted actions is key to build a relationship with SmartCityTech stakeholders in other regions and to create resilient business. It’s a long term endeavor which will pay off when we join forces.

Do you want to know more about the SmartCityTech internationalisation plan, join the webinars on May 23 (10.30 am) and June 7 (10 am) or contact Mark Decolvenaer.