Singapore Exchange (SGX) has partnered with Exploit Technologies (ETPL), the commercialization arm of the Agency for Science, Technology and Research (A*STAR), to help technology startups and Small and Medium Enterprises (SMEs) tap technology and funding, strengthening the city state’s position as a technology hub.
“Through strengthening the financial positions and innovative capacities of high-growth enterprises, the partnership is expected to drive business growth and capture greater value for Singapore’s economy,” SGX said in an announcement on Monday.
It is aimed at fostering greater information sharing and engagement between the financial and technology communities, and allow technology companies to access Singapore’s capital markets as a source of funding and a platform to expand their businesses globally.
Through the scheme, selected companies will be able to access A*STAR’s research and development capabilities, which include biomedical and physical sciences, technology, and engineering, the stock exchange said signing an MoU for the partnership.
Under the two-year MoU, SGX and ETPL will jointly identify companies with “growth potential” to help them access growth capital from private or public capital markets in Singapore efficiently.
Further, the partnership also seeks to help startups and SMEs better translate their inventions and intellectual capital into marketable products, processes and services.
“By marrying our capital markets expertise with ETPL’s technology commercialisation capabilities, we look forward to playing a part in nurturing competitive and future-ready companies and strengthening Singapore’s position as a technology hub,” said SGX Equities and Fixed Income head, Chew Sutat.
To facilitate the collaboration, Catalist Sponsors SAC Capital Private Limited and UOB Kay Hian Private Limited, law firms Virtus Law LLP and WongPartnership LLP, and audit firms Deloitte Singapore and PwC Singapore will provide support.
SGX and ETPL will raise awareness amongst these fast growing innovative companies on the technology transfer opportunities in Singapore. SGX will also organise forums on how the identified companies can raise capital and use Singapore as a springboard into the Asia-Pacific region.