SINGAPORE - More cross-border collaboration between Singapore and French companies on technology development and co-innovation is in the works, which could potentially see firms expanding into new markets in Europe and Asia.
Enterprise Singapore and French enterprise agency Bpifrance are calling for proposals on joint innovation projects in technological and application areas such as advanced manufacturing, clean technology and medical technology.
This is in line with the France-Singapore Year of Innovation to accelerate partnerships in innovation and entrepreneurship, said Enterprise Singapore in a press statement.
Both agencies will provide funding support for jointly selected projects. To qualify, the project consortium must have at least one company from each of the participating countries.
The joint call for proposals follows a memorandum of understanding signed between the two agencies in July 2018 during Minister for Trade and Industry Chan Chun Sing's visit to France.
Singapore and France have already established partnerships in areas such as advanced manufacturing, aerospace, ageing and biotechnology, fintech, health and smart cities. French start-ups, including Kpler, Metron Lab and Finalcad, have anchored their regional headquarters in Singapore. Similarly, Singapore start-up H3 Dynamics has established its European headquarters in France.
Both countries are now placing a greater focus on innovation to drive their economies and are keen to foster stronger partnerships between their start-up ecosystems, said Enterprise Singapore.
Singapore's Global Innovation Alliance in Paris, which was launched in July 2018, aims to strengthen economic linkages and facilitate closer interaction between the start-up and innovation ecosystems in Singapore and France.