Could you share more about your internationalisation programs and how they support tech businesses expanding globally?
Our internationalization programs, including the Scale Now Program and the DIC Go-to-Market Program, are designed to empower homegrown tech businesses in their global expansion.
- Scale Now Program: Tailored for growth-stage companies and designed to support entrepreneurs, this initiative offers executive mentoring and capacity-building support to help businesses scale effectively.
- In addition, the program provides capacity-building support, ensuring that companies have the tools and knowledge required to navigate international business environments effectively.
- DIC Go-to-Market Program: Designed for early-stage startups, this program provides mentoring and training sessions focused on the global market landscape, where startups learn how to refine their products, adjust to international market demands, and scale up efficiently.
- Participants also receive exposure to major international events such as LEAP and SWITCH, which are essential platforms for networking and brand visibility.
- The program encourages startups to participate in one-on-one sessions with potential investors, partners, and customers, which significantly enhances their ability to enter and succeed in new markets.
Both programs are strategically designed to equip startups with the knowledge, tools, and global visibility they need to succeed in international markets. By focusing on mentorship, training, and international exposure, we help our startups build solid foundations for long-term success.
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?
These startups have demonstrated strong potential and are well-positioned to succeed in the Singapore market. Here are one of the standout startups:
Bonocle is a Braille education platform that makes Braille more accessible, enjoyable, and universal. In 2023, Bonocle participated in SWITCH 2023 as part of MCIT’s Go to Market program. Bonocle not only because it was the first MENA startup in the Top 50 of Slingshot but also reached the Top 10. Besides validation, this achievement brought a grant of SGD 50,000 from Startup SG, amplifying Bonocle’s credibility and potential for growth in the global market.
How do you typically help startups connect with key stakeholders in Singapore, such as investors, resellers, or potential customers?
Events like SWITCH are crucial for startups to connect with key stakeholders in Singapore, such as investors, resellers, and potential customers. During SWITCH 2023 and 2024, our startups had opportunities to engage in networking activities, including investor dinners and matchmaking sessions. These efforts led to over 95 investor meetings with 50+ investors, 76+ partnership opportunities, and 60+ sales leads. Startups also participated in sessions with key players from Singapore’s ecosystem, further strengthening connections. Such events provide valuable exposure, resources, mentorship, and opportunities to build lasting relationships with global partners and investors, both in Singapore and globally.
Startups that join events like SWITCH are also able to engage in sessions with industry leaders and stakeholders from Singapore’s vibrant business ecosystem. These sessions serve as learning opportunities, providing startups with insights into the market dynamics and the unique needs of the Singaporean business landscape. Such interactions also create long-term relationships that are vital for business development and sustainability in global markets.
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?
- Qatar and Singapore share several strategic priorities, making Singapore an ideal expansion destination for Qatari startups. Both countries invest in HealthTech, logistics, fintech, and smart cities, creating collaboration opportunities.
- HealthTech, particularly, digital health and AI-powered diagnostics, stands out. Bonocle, a Qatari startup, exemplifies success with its braille learning technology in Singapore.
- Fintech thrives due to progressive regulations and government initiatives.
- Smart city innovations are crucial to the vision of both Qatar and Singapore. Qatar’s focus on smart infrastructure and sustainable urban solutions aligns perfectly with Singapore’s Smart Nation initiative, offering opportunities for AI-driven urban solutions.
- Logistics is another sector in which startups can find growth potential in Singapore. Qatar and Singapore are central players in global trade and logistics, and there are increasing opportunities for startups to innovate. Whether it’s supply chain management, warehouse automation, or last-mile delivery solutions, etc.
- Overall, Singapore presents Qatari entrepreneurs a chance to scale globally, leveraging shared strategic priorities to expand into Southeast Asia and beyond.
Why should Singaporean startups explore your market as part of their own global expansion journey?
Startups should explore the Qatari market for global expansion due to several reasons. Here are some of the key factors that make Qatar an ideal market for Singaporean startups:
- Supportive Business Ecosystem: Qatar offers a highly supportive environment for startups, with a wealth of government initiatives aimed at fostering business growth and innovation.
- Strategic Location and Global Connectivity: Qatar’s strategic location is a regional hub for trade, finance, and logistics, offering easy access to the broader Gulf Cooperation Council (GCC) market, Southeast Asia, and Europe.
- Stable Economy and High-Tech Infrastructure: Qatar boasts high-tech infrastructure, which provides a robust foundation for startups in tech-driven industries like digital health, fintech, AI, and IoT.
- Business-Friendly Environment: Qatar offers a highly business-friendly environment that encourages foreign investment. With regulations allowing for 100% foreign ownership of businesses, Singaporean startups can fully retain control over their operations. The country’s tax incentives, such as zero income tax and a competitive corporate tax rate, provide additional benefits, ensuring that businesses can operate with greater profitability and lower operational costs.
- Access to Regional and International Markets:
Furthermore, Qatar’s young, educated talent pool and its commitment to digital transformation align with the goals of Singaporean startups, making it an ideal market for expansion and innovation.
In conclusion, Qatar offers a combination of strategic advantages—supportive government policies, a stable economy, cutting-edge infrastructure, and a vibrant business ecosystem—that makes it a compelling destination for Singaporean startups seeking new growth opportunities.
