SICCI-SIIC collaborate to provide incubation services for indigenous talent
Startups from Singapore and India will be able to create global brands and compete in the international market under a Memorandum of Understanding (MoU) signed by two the two countries’ institutions on 10 Mar 2021.
The Singapore Indian Chamber of Commerce and Industry (SICCI) and Startup Incubation and Innovation Centre (SIIC) of IIT Kanpur, signatories of the MoU, will facilitate networking events, including trade fairs, business missions, exhibitions and relevant trade conferences to stimulate the growth of early-stage start-ups from the countries.
“This agreement marks the beginning of an unseen era in the incubation ecosystem. SICCI and SIIC aim to support indigenous tech-based businesses that are sustainable, ensure value-addition, and provide local employment opportunities,” said Prof. Amitabha Bandyopadhyay, Professor in-charge, Innovation and Incubation at IIT Kanpur.
SICCI and SIIC will collaborate to identify young, indigenous talent to provide them with an arrange of incubation services.
SICCI Chairman Dr. T. Chandroo added, “We plan to provide a well-deserved launchpad to our startups and those in India to create well-established global brands that thrive on excellence, innovation and ingenuity.” The pilot edition of the launchpad will be the first of many programs to be conducted jointly by SICCI and SIIC.
“We hope to build a strong Singapore-India corridor by partnering with IIT-K by helping each other in achieving goals of growing businesses and educating the business leaders of tomorrow,” he said.
“Both institutions’ leadership agreed to operate under a framework of cooperation to help their respective business communities flourish,” said a joint release from SICCI and SIIC.
SICCI has recently established an International Business Division to serve the internationalisation needs for Singapore companies and has launched a student startup initiative, Catalyse 2020, that started recently with 16 student teams.
SICCI aims to be the gateway of opportunity for Indian businesses in Singapore, helping both home-grown and international companies realise their full potential, assured Dr. Chandroo.
There are some 9,000 companies from India that have registered in recent years in Singapore for tapping regional businesses.
“As we enter a phase of recovery following COVID-19, businesses and entrepreneurs must stand ready to adapt to a changing world to address the new norms to compete in the global market,” stressed Dr. Chandroo.
The MoU was signed by Dr. Chandroo for SICCI and Prof. Amitabha Bandyopadhyay for SIIC IIT-K. #startups #technologies #innovations #investment #incubation /fiinews.com
