Could you share more about your internationalisation programs and how they support tech businesses expanding globally?
Catalonia T&I suports the internationalisation efforts of all types of companies, small, medium and large. When it comes to Startups we do provide special attention and care, for it is at this stage where companies need all the extra support they can get.
Via our Barcelona Catalonia Startup Ecosystem booths we facilitate Startup participation at events like the 4YFN, Slush or Switch itself. We also develop and manage the Startup Hub Directory, listing not just Catalan Startups but also all the other ecosystem players such as Investors, Accelerators etc
Last but not least, we run the Startup Capital program, whereby new tech Startups can receive up to 100,000 Euros in the form of direct grants or in the form of co-investment.
Can you share some success stories of startups you’ve helped enter the Singapore market? What factors contributed to their success?
Over 120 Startups have benefited from our Startup Capital programs, but if we are talking specifically about Singapore, the first company we supported was Build38, during our first Switch participation before Covid. Build38 is a provider of next generation AI-based app protection and management platform whom subsequently opened its office in Singapore to serve the Apac markets.
More recently, 2024 Switch participant AIMA Beyond AI, developers of an AI Digital Assistant, has reached its first agreements with Singapore-based health and social institutions in order to target what is an increasing challenge in ageing societies, loneliness and its undesired health consequences.
Are there specific programs, partnerships, or events that have proven particularly beneficial for startups from your country looking to understand and tap into Singapore’s Business ecosystem?
Prior to Switch itself we conduct several efforts to promote participation of Catalan Startups at the Barcelona Catalonia Startup Ecosystem booth. These efforts include directly reaching out to Startups whom we deem to have the right profile, based on Switch’s verticals, as well as Webinar presentations to introduce to any interested party the characteristics of Singapore’s Startup Ecosystem and the benefits they can reap from being a part of it.
Once in Singapore for the event we also encourage them to participate in the multiple networking sessions, side-events and seminars going on at the time, provided both by organizations like EnterpriseSG or ACE Singapore, but also by other participating regional and national organizations.
When startups approach you for guidance on expanding into Singapore, what’s typically their biggest priority—finding local partners, securing funding, or building brand awareness? And from your perspective, what more can be done in Singapore to make market entry smoother for startups?
We really have a mixture of priorities on the part of the companies participating. Some of the Catalan Startups come to Singapore in search of business partners with whom to expand commercially into Singapore as well as regional markets.
Others priority is to meet investors for their next funding round, although in those cases we make sure they understand that having local activity is usually key to raise the interest of such investors. And then we also those that are somewhere in the middle: while they may be primarily looking for business partners they are also open to meeting potential investors, or even companies who can fulfil both roles.
Why should Singaporean startups explore your market as part of their own global expansion journey?
We often say that Catalan tech startups are born with an international mindset: from day one their market is not just Catalonia or Spain but the world. Actually, the same would apply to Singapore Startups, perhaps even more so given the relatively small size of the local market.
While it may be natural for these companies to prioritize neighbouring markets with similar business culture and links, developed markets markets may not grow as fast but they are more stable and predictable, which is an important element to any business that is just starting its activity. Barcelona-Catalonia is the largest Startup hub in Southern Europe and as such it is well prepared to welcome Startups from Singapore.
