Singapore inks deal with India to share tech ecosystem

Companies can now share networks and pilot new innovations in India.

International Enterprise (IE) Singapore signed a Memorandum of Understanding (MOU) with the Confederation of Indian Industry(CII) on January 8 that will allow Singapore tech and innovation companies to share networks by connecting to India’s vast technology ecosystem, according to a press release. 

The MOU enables Singapore companies to pilot new innovations and technology solutions among the CII Indian business community, as well as learn best practices and share networks. 

India is a rapidly growing startup hub with a focus on e-commerce, fintech, data analytics and AI. The country has produced over 5,000 tech startups in 2017 and two unicorns in the form of Flipkart and Paytm. 

“IE Singapore’s partnership with CII will facilitate the exchange of ideas between industries and governments of both countries, and enable Singapore companies to pilot or co-develop innovative solutions in India. This will help Singapore companies, both new entrants and those looking to expand further in-market, establish a strong track record and scale up across India,” said IE Singapore Assistant CEO Mr Tan Soon Kim.