Singapore and Japan Signed the dotted Line and Agree to Strengthen the Support Given to Start-ups and other Businesses

The Japanese and Singapore start-ups and other enterprises are now looking forward to new initiatives, actions and exchanges of important information under the recent agreement they have got into.

Singapore and Japan got into a new partnership recently on August 29, 2018 which is meant to bolster the support that all the start-ups and other entrepreneurs and enterprises get from both the countries.

The memorandum of understanding (MOU) was signed by two parties – Singapore’s Economic Development Board (EDB) and Enterprise Singapore, and the Japan External Trade Organisation (JETRO).

The agreement was signed on the occasion of the 50th ASEAN Economic Ministers’ Meeting at the Shangri-La Hotel. This MOU aimed to reinforce the ties between Japan and Singapore so that their innovation ecosystems could collaborate. This will enable the three agencies to make the access easier and generate more opportunities by taking new initiatives, organizing events and exchanging information for all start-ups and other businesses.

Through this MOU, Japan has been included in the Singapore’s Global Innovation Alliance (GIA) initiative.

A major proposal in the Committee on the Future Economy report, the GIA was launched last year with a goal to fortify Singapore’s association with all the foremost innovation hubs and important markets globally.

This partnership is also touted to provide precious access and new opportunities for both Singapore and Japanese businesses so that they can collaborate, get into fresh partnerships and also co-create best-in-class solutions. Therefore, company formation in Singapore will be even easier and beneficial.

As a result, this will augment the ecosystems affecting start-ups and innovations in both happening in both these countries.