This follows a partnership between the Singapore Economic Development Board and J’lem-based investment platform OurCrowd
Senior representatives from large Singapore-based companies visited Israel last week to participate in a two-day event organized by the Singapore Economic Development Board (EDB) and investment platform OurCrowd.
The companies’ reps had the opportunity to meet with more than 40 Israeli startups – most of them from OurCrowd's portfolio. Together, they explored investments and collaboration opportunities in diverse fields, including health and med-tech, precision engineering, sustainability and more.
The event marks the beginning of an important partnership between EDB and OurCrowd, part of EDB’s efforts under the Global Innovation Alliance (GIA), which is an initiative by the Singapore Government to catalyze cross-border partnerships between Singapore and major innovation hubs globally.
EDB and Enterprise Singapore (ESG) jointly oversee the GIA activities that seek to connect Singapore-based enterprises with overseas partners for R&D and innovation collaborations, with EDB focusing on large Singapore-based corporates and ESG focusing on helping Singaporean Small Medium Enterprises and startups to connect with innovation hubs overseas.
The collaboration with OurCrowd aims to provide thousands of startups with the opportunity to partner with Singapore-based companies in the manufacturing and services sectors. OurCrowd and the EDB will hold a series of in-person meetings and virtual programs, including networking meetings and bespoke demo days.
"The arrival of the delegation is welcome news for the Israeli high-tech industry, as it opens doors to one of the strongest and most influential economies in Asia,” said Yakir Machluf, Head of Business Development at OurCrowd.
“The large Singapore-based corporates are always looking for new pathways to innovation and creativity, and the Israeli startups demonstrated admirable abilities in all sectors of technology and verticals.”
Referring to the Singapore-based companies, EDB Vice President Lily Phua said that they “will be able to leverage OurCrowd’s extensive networks and deep understanding of technology capabilities in the Israeli startup ecosystem, which will further strengthen innovation ties between the two countries.”