Enterprise SG to help Singapore tech firms enter the US with 500 Startups tie-up

Enterprise Singapore, a government agency under the country’s Ministry of Trade and Industry, has partnered with Silicon Valley-based early-stage venture fund 500 Startups to run Global Launch, an accelerator program that would help startups in the city-state establish a presence in San Francisco.

From left: 500 Startups director of innovation and partnerships Thomas Jeng, Enterprise Singapore chairman Peter Ong, and 500 Startups partner Vishal Harnal / Photo credit: 500 Startups

The program is set to select up to 20 startups to take part in the 16-week program, which will include a week-long series of workshops and a two-week intensive bootcamp in San Francisco.

The latter stages of the program will provide participants with networking and business pitching opportunities and will culminate in an open house, where the chosen startups can showcase their business ideas to investors, according to a statement.

As part of the tie-up, 500 Startups will provide selected firms with guidance on business development and how to strike the right partnerships, market trend briefings, as well as mentorship and training services.

The first cohort of Global Launch is expected to commence on November this year.

“With 500 Startups as our [Global Innovation Alliance] partner, our Singapore-based startups will be able to leverage their extensive networks to gain in-roads into the Silicon Valley ecosystem and seek new partnerships and investors,” said Enterprise Singapore chairman Peter Ong.

In addition, 500 Startups will also launch a dedicated program aimed at helping global startups looking to enter markets in Asia through Singapore. It is set to run for 16 weeks and includes workshops and mentor matchmaking and will connect startups with industry professionals and corporations for potential partnerships.

The program, which will take place in Singapore, is expected to start in January 2020 and include about 10 startups.

“This program is part of 500 [Startup]’s mission to increase connections between startup ecosystems globally. ASEAN is one of the most exciting and fastest growing regions for startups, and Singapore is in the center of it,” said 500 Startups partner Vishal Harnal.