Singapore startups get access to the Nordics with EnterpriseSG’s new Global Innovation Alliance node in Sweden
The Stockholm programme will help startups to co-develop, test and commercialise solutions in areas such as agrifood tech and green supply chains
SINGAPORE technology startups looking to form innovation partnerships with Swedish corporates can now tap Enterprise Singapore’s (EnterpriseSG) new Global Innovation Alliance (GIA) node in Stockholm, which was launched on Wednesday (Nov 20).
This is the first GIA node in the Nordic region. With this addition, EnterpriseSG’s GIA network now runs acceleration programmes in 24 innovation hubs in cities across the United States, Europe, Australia, the United Arab Emirates and Asia.
The new node will enable Singapore tech startups to co-develop, trial and commercialise solutions in areas such as agrifood tech and green supply chains in Sweden, by helping them form partnerships with large Swedish companies.
EnterpriseSG will work with its appointed GIA partner, Swedish digital accelerator Epicenter, to commence the acceleration programme in the first quarter of 2025.
It will help up to 24 Singapore-based tech startups enter Sweden and the Nordic region, with support from Swedish government agencies Business Sweden and Vinnova.
The acceleration programme will involve partnerships with corporate giants in Sweden, such as Danish-Swedish dairy multinational cooperative Arla Foods and fashion retailer H&M.
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These players will share opportunities and explore cross-border business collaborations with Singapore-based startups, in areas such as ingredient innovation and supply chain sustainability.
Under the programme, the Singapore startups will work with Epicenter to assess market potential, validate product-market fit, and explore new use cases for test-bedding. The companies shortlisted by the corporate partners will be able to trial, and potentially implement, their solutions with them.
EnterpriseSG highlighted Sweden’s “advanced industrial landscape, digitalised economy and dense innovation networks of incubators, accelerators, research institutions and high-tech companies”, which offer Singapore startups strategic access to the Nordic market.
Sweden is ranked second in the 2024 Global Innovation Index, a ranking of the world’s most innovative economies.
The country is second only to Silicon Valley in terms of the number of unicorns per capita, with its startups valued at 239 billion euros (S$338.8 billion) collectively in 2023, based on industry reports by Dealroom and Innovation Lab Asia.
Emily Liew, assistant managing director for innovation at EnterpriseSG, said it is critical for startups to access new markets and ensure proof of market for their products as they scale their ventures.
By facilitating access to corporates, GIA Stockholm and Epicenter offer “structured pathways to vital commercial and research and development collaborations” in Sweden, she added.
“Through the programme, startups will be connected to market opportunities, enabling them to commercialise solutions, secure funding and accelerate growth across the Nordics.”
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