Singapore, France sign three deals to deepen economic and innovation linkages

PARIS - Singapore's Economic Development Board (EDB) and Enterprise Singapore (ESG) signed three deals with partners in France on Thursday (July 12) to deepen economic links between the two countries.

Under the deals, start-ups from both countries will get help expanding into each other's markets.

Speaking at the signing of the three agreements at start-up campus Station F, Trade and Industry Minister Chan Chun Sing said the deals reflect Singapore's ongoing move to link itself up with innovation nodes around the world.

"This is what we are hoping to build... a network of enterprising talent and businesses to come together to create the future for ourselves and the rest of the world."

The first agreement with France's ESSEC Business School, will see ESSEC conduct immersion programmes to help Singapore-based start-ups in France.

The programme will consist of a preparatory course to familiarise participants with the business and innovation environment in France, followed by a trip to France for participants to tap ESSEC's business and innovation networks.

The second agreement is between EDB, ESG, Singapore's innovation accelerator Action Community for Entrepreneurship (Ace) and French start-up incubator Creative Valley.

Under the deal, Creative Valley and Ace will help start-ups from France and Singapore to gain a foothold in each other's markets.

Both agreements come under the Global Innovation Alliance initiative that the Singapore Government launched last year.

The alliance aims to strengthen Singapore's links to innovation hubs around the world, to create more opportunities for Singaporean students, entrepreneurs and businesses to connect and collaborate with their overseas counterparts and gain overseas experience.

The third deal inked is between ESG and Bpifrance, an agency charged with developing French companies by providing assistance and financial support.

Under the partnership, the two agencies will support joint innovation projects between French and Singapore companies and help these companies expand into each other's markets.

The two agencies will also explore coordinating financing instruments to support companies and develop networking platforms for them.

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