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The governments of Japan and Singapore have intensified efforts to encourage Japanese startups to expand globally, particularly into Southeast Asia. This partnership is centred around the Japan-Singapore Co-Creation Platform, which focuses on fostering collaboration in deep tech and open innovation. By leveraging Singapore’s strategic location and vibrant startup ecosystem, and Japan’s extensive technological expertise, both countries aim to address complex global challenges through joint innovation.
The partnership comes at a time when global issues like climate change and the rise of AI necessitate cutting-edge solutions. During the Japan-Singapore Co-Creation Platform Kick-off Seminar, the Second Minister for Trade and Industry of Singapore, Tan See Leng, highlighted the importance of deep tech and open innovation in driving such solutions. He emphasized that the exchange of ideas is the first step in accelerating technology deployment to the market.
Japan has also launched a Startup Development Five-Year Plan, aimed at transforming its startup ecosystem, creating significant opportunities for collaboration between Japanese and Singaporean companies. Notable examples include Mitsubishi Corporation and Chiyoda Corporation’s partnership with Nanyang Technological University to advance hydrogen extraction technology, as well as SWAT Mobility’s collaboration with Japan’s Alpico Group to develop AI-driven sustainable transport solutions.
Singapore’s startup ecosystem, valued at USD 144 billion and home to over 4,500 startups and 400 venture capitalists, serves as an attractive gateway for Japanese companies looking to expand into Southeast Asia. With recent rankings placing Singapore sixth globally and first in the Asia-Pacific region for startup ecosystems, the country is well-positioned to facilitate the growth of Japanese startups.
The collaboration is set to expand through a series of events and initiatives under the Japan-Singapore Co-Creation Platform, encouraging companies to innovate, build partnerships, and take advantage of new market opportunities. The platform serves as a springboard for startups to thrive in a competitive global environment, with both governments actively supporting their ventures