Help at hand for Singapore start-ups entering Sweden

EnterpriseSG scheme to help them woo major Swedish companies as customers

- Tay Hong Yi

Start-ups here with European ambitions will get to link up with major Swedish firms seeking innovative solutions to their challenges, under a new acceleration programme by Enterprise Singapore (EnterpriseSG).

The trade agency launched the Stockholm node of its Global Innovation Alliance (GIA) at the Singapore-Sweden Royal Business Forum on Nov 20.

The Swedish capital is the 24th location in the GIA network, where EnterpriseSG works with partners to provide acceleration programmes for Singapore businesses that wish to expand abroad.

The agency will work with Stockholm-based digital start-up accelerator Epicenter to launch the acceleration programme there in the first quarter of 2025.

The programme will facilitate market access for up to 24 Singapore-based tech start-ups, with support from Swedish government agencies Business Sweden and Vinnova.

"Participating Singapore start-ups will work with Epicenter to assess market potential, validate product-market fit and explore new use cases for test-bedding," EnterpriseSG said.

"Those shortlisted by the corporate partners will go on to trial and potentially implement their solutions with them."

Speaking at the forum, Deputy Prime Minister Gan Kim Yong cited the new node as an example of Singapore's efforts to help entrepreneurs here tap Sweden's strong start-up ecosystem through knowledge sharing, networking and market access.

Mr Gan, who is also Minister for Trade and Industry, noted that EnterpriseSG has supported more than 600 start-ups in their internationalisation efforts, adding that firms have expressed interest to fast-track their entry into the Nordic market through opportunities in Sweden.

The Stockholm node is GIA's first in the Nordics.