Two Singaporean startups have come out on top at a startup pitching competition, taking home the top honours in the CleanTech and Regional categories, respectively. The two businesses outperformed other foreign startups in both pitching sessions, highlighting the ability of Singapore startups to compete internationally in sustainability.
The firms, which were both created by women, use cutting-edge techniques to tackle various sustainability issues. A deep-tech business that specialises in innovative materials creates energy-efficient nanoparticles called “aerogels” to fulfil the rising demand for environmentally friendly thermal insulation in sectors like oil and gas, building, and electric vehicles (EVs).
The other one creates microbiome profiling solutions for the aquaculture industry using cutting-edge sequencing technology and advanced bioinformatics. Its recommendations aim to balance out microbial imbalances to increase the productivity of seafood production and lessen the environmental effect of aquaculture.
The winning digital businesses were a member of the Singapore team that recently attended the session in Maryland. The group was led by Enterprise Singapore (EnterpriseSG) and the U.S. Commercial Service and included more than 25 enterprises. The gathering included business investors, small and medium-sized businesses (SMEs), and digital startups from a variety of sectors, including agri-food, robotics, and waste management.
The summit, hosted by the U.S. Secretary of Commerce, is the major conference promoting direct investments into the U.S. Over 4,900 participants, including senior government officials, industry leaders, and economic development organisations from across the U.S. and 83 international markets, gathered to discuss investment and emerging business opportunities in energy, infrastructure, and supply chain.
On the first day of the summit, EnterpriseSG hosted an event for Singapore companies and representatives from various states; as part of this, Singapore companies took the stage to discuss and share their expertise in the sustainability and digital solutions space with in-market industry leaders and business partners. Meetings between EnterpriseSG and U.S. government officials, including Under Secretary of Commerce for International Trade Marisa Lago, were also organised by the U.S. Commercial Service.
“The U.S. continues to be an important market for Singapore companies looking to expand globally or deepen their innovation capabilities,” said Tan Soon Kim, Deputy Chief Executive Officer (Global Markets), EnterpriseSG.
He also stated that Enterprise Singapore has established a network of channels and partners in important states to assist Singapore enterprises in capitalising on these prospects. They have designed courses in collaboration with accelerators to assist companies in integrating into the local innovation ecosystem. They have also linked their industry groups, such as the Singapore Semiconductor Industry Association and the Singapore Business Federation, to U.S. partners to facilitate SME members’ entry into the market. They will continue to collaborate closely with the United States Commercial Service to ease their companies’ market entry journey across several states in the U.S.
Singapore corporations are also increasingly interested in exploring state-specific interests in the U.S. Only a week before the Summit, EnterpriseSG led a group of 11 Singapore firms to a SelectUSA spin-off mission in Phoenix, Arizona, in collaboration with the U.S. Commercial Service and the Singapore Semiconductor Industry Association (SSIA). The group looked into partnership and investment prospects in the semiconductor industry, as well as the manufacturing of electric and driverless vehicles.
These activities demonstrate the strengthening of bilateral economic relations, consistent with the Partnership for Growth and Innovation (PGI) signed between Singapore and the U.S. in October 2021. The purpose of the PGI is to strengthen trade and investment collaboration in new and prospective domains, such as:
- Digital economy and smart cities;
- Advanced manufacturing and supply chain resilience;
- Clean energy and environmental technology; and
- Healthcare
EnterpriseSG collaborates closely with important partners such as the US Commercial Service to assist Singapore companies in accessing opportunities in the US. This involves organising business missions and business matching events, as well as facilitating platform projects, collaborations, and meetings with federal, state, and local politicians.
