THE Australian Trade and Investment Commission (Austrade) has unveiled its latest batch of eight startups across the fields of cybersecurity, fintech and HR-tech under its Landing Pad initiative. It is helping some of the country's most promising startups anchor in Singapore to drive their expansion plans in the region.
The companies will be based in the Republic while undergoing a 90-day tailor-made residency programme. They are technology provider Aiculus; healthtech startup Awakened Mind; cybersecurity-focused firms FifthDomain and Privasec; fintech startups Imperium Markets, Entersoft and Lendhaus; and recruitment software firm Ubidy.
During a kickoff event, the startups pitched ideas to investors, the startup community, thought leaders and corporates. For this round, Austrade has partnered the government-backed Australian Cyber Security Growth Network, with an aim to curtail and eliminate cybercrime across the Asia-Pacific region, the press statement said.
The new batch builds on the success of earlier cohorts, where 42 per cent of them already have Singapore offices and hires. Recent graduates have expanded to markets such as India, Indonesia, Nepal, the Philippines and Vietnam.
The Landing Pad has helped raise around US$15.8 million, with over 50 partnership agreements inked, including one with a Singapore government agency.
Australian High Commissioner to Singapore, Bruce Gosper, graced the event.
Taliessin Reaburn, trade commissioner of Austrade Singapore, said: "By connecting these startups with investors, enterprises and government agencies, we are helping them accelerate their growth internationally. We believe that the Australian startups will be able to offer world-class expertise to Singapore and the region.”
Samantha Mark, Landing Pad manager for Singapore, said: “Scaling up requires founders to develop new personal and business skills, and often challenge their thinking towards running the business. It involves reaching out and making connections across the industry and marketplace, which could be challenging when they endeavour to penetrate into new markets.”
Ms Mark also said that Singapore, with its conducive business environment and vibrant entrepreneurial community, complements ambitions of Australian startups seeking to establish themselves in global markets. The dynamic startup landscape in Singapore has harnessed a large capital pool from international funds and multinational companies. This provides Landing Pad startups with the opportunity to form partnerships to upscale their products globally and commercialise new business ideas, she added.
Austrade is the trade and investment body of the Australian government. Its Landing Pad initiative in Singapore enables the exchange of innovative ideas, by attracting and developing competencies and new technologies for the Asean region.
Other than Singapore, the Landing Pads operate in San Francisco, Tel Aviv, Shanghai and Berlin. Each Landing Pad helps market-ready Australian startups and scale-ups in accessing global innovation ecosystems.