SG startups can now easily partner with Swedish firms

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Singapore tech startups looking to form innovation partnerships with Swedish corporates can now tap into Enterprise Singapore’s (EnterpriseSG) new Global Innovation Alliance (GIA) node in Stockholm.

Launched on November 20, it is the first GIA node in the Nordic region.

With this addition, EnterpriseSG’s GIA network now runs acceleration programs in 24 innovation hubs in cities across the US, Europe, Australia, the United Arab Emirates, and Asia.

The new node will enable Singapore tech startups to co-develop, test, and commercialize solutions in areas such as agrifood tech and green supply chains in Sweden by helping them form partnerships with large Swedish companies.

EnterpriseSG will work with its appointed GIA partner, Swedish digital accelerator Epicenter, to commence the acceleration program in the first quarter of 2025.

Up to 24 Singapore-based tech startups will get assistance in entering Sweden and the Nordic region, with support from Swedish government agencies Business Sweden and Vinnova.

The acceleration program will involve partnerships with corporate giants in Sweden such as Danish-Swedish dairy multinational cooperative Arla Foods and fashion retailer H&M.

These players will share opportunities and explore cross-border business collaborations with Singapore-based startups in areas like ingredient innovation and supply chain sustainability.

Under the program, the Singapore startups will work with Epicenter to assess market potential, validate product-market fit, and explore new use cases for test-bedding. The companies shortlisted by the corporate partners will be able to test – and potentially implement – their solutions with them.

Sweden placed second in the 2024 Global Innovation Index, a ranking of the world’s most innovative economies.

The country is second only to Silicon Valley in terms of the number of unicorns per capita, with its startups valued at 239 billion euros (around US$252 billion) collectively in 2023, based on industry reports by Dealroom and Innovation Lab Asia.

Emily Liew, assistant managing director for innovation at EnterpriseSG, says it is critical for startups to access new markets and ensure proof of market for their products as they scale their ventures.

By facilitating access to corporates, GIA Stockholm and Epicenter offer “structured pathways to vital commercial and research and development collaborations” in Sweden, she adds.