Could you share more about your internationalisation programs and how they support tech businesses expanding globally?
The Midlands Innovation (MI) partnership, now in its tenth year, unites eight world-class universities in the heart of England to support home-grown tech businesses expanding globally. As a key partner in the Invest in UK University R&D – Midlands campaign, MI enhances the commercialisation of innovations through initiatives like Midlands Mindforge, which provides capital and expertise to university spin-outs. The partnership also offers world-class facilities, including science parks and incubators, and a collaborative network of Technology Transfer Offices that provide sector knowledge, industry links, and investor access. By pooling regional strengths, MI presents a unified offer to investors, amplifying the region’s reputation and opening new opportunities through outbound missions like the one to Singapore.
Can you share some of the exciting startups you’re currently working with, and which ones you believe have strong potential in the Singapore market?
Alumni of Midlands universities have founded 3,593 start-ups globally since 2010, worth $113.5bn and employing 114,000 people. Notable unicorns include Monzo, Shopify, and Darktrace. Global companies like Jaguar Land Rover and Rolls-Royce have invested over £500 million in SMEs and spinouts in the area. Recent successful spinouts from the Midlands Innovation partnership include; Cheesecake Energy (thermal energy storage), Scintam Engineering (maintenance technology), Medherant (drug delivery patches), Phenotypeca (protein therapeutics), Nanosyrinx (intracellular medicine), Grid Edge (AI smart energy solutions), Interactive Coventry (AI and flood monitoring), Geospatial Ventures (AI & geospatial monitoring), and Microcab (hydrogen fuel cell technology). These start-ups have strong potential in the Singapore market.
How do you typically help startups connect with key stakeholders in Singapore, such as investors, resellers, or potential customers?
Singapore is a vital market for the Midlands region, with local funders playing a crucial role in our university spinout funding ecosystem. Several university partners are members of the UK-Singapore Universities Alliance for Entrepreneurship and Innovation (UKSAEI) and have strong relationships with Singaporean companies and universities. SWITCH 2024 was a landmark event for the Invest in UK University R&D – Midlands campaign, establishing numerous links with Singaporean organisations for co-location, collaborative research, and investment opportunities. Our university partners have an extensive alumni network in the country, providing critical connections and opportunities for future collaboration.
From your perspective, what are the most exciting opportunities or industries in Singapore right now that startups should be exploring? Are there specific verticals you’d like to dive deeper into or learn more about?
Singapore offers exciting opportunities in Artificial Intelligence (AI), sustainable technologies, and healthcare innovation in particular.
AI is a pivotal sector, with initiatives such as AI Singapore and collaborations between IBM and NUS propelling its advancement. Startups have the opportunity to delve into AI applications across various domains, including urban planning, transportation, and cybersecurity.
Sustainable technologies are also prominent, with Singapore committed to net-zero emissions by 2050, offering opportunities in hydrogen innovation, green building, and circular economy solutions.
Healthcare innovation is thriving, with significant investments from Duke-NUS Medical School and A*STAR, creating opportunities in digital health, medical devices, and biotechnology. These industries align with strategic goals for economic growth in both the UK and Singapore.
Why should Singaporean startups explore your market as part of their own global expansion journey?
Singaporean startups should explore the Midlands for their global expansion due to its thriving innovation ecosystem, significant research strengths, and growth potential. The Midlands Innovation institutions rank #1 in Science Research Power in the UK and excel in agritech, creative and digital industries, health and life sciences, transport technologies, and zero-carbon energy. The region offers unrivalled transport links, a collaborative approach with the UK’s first university investment concierge service, and a strong talent pool with over 350,000 students. Additionally, the Midlands is cost-effective, with lower living costs and affordable office spaces, supported by various government initiatives and funding programmes.
