In Bridging Boundaries Through Cross-Border Collaboration
ACCM NEWSLETTER ISSUE 19: MAY'24
Transcending Boundaries: Cross-Border Collaboration in Accelerating Business Growth
In the ever-evolving realm of modern business, the synergy of cross-border collaboration emerges as an indispensable force, igniting rapid growth and fostering innovation. Within this newsletter, we embark on a journey to unveil its transformative power, acting as a dynamic force propelling businesses into new realms of success.
Let's embark on an exploration of how cross-border collaboration serves as the cornerstone for fueling both innovation and enterprise, ultimately driving unparalleled business growth.
Here are two key points highlighting the importance of cross-border collaboration:
- Access to Diverse Markets: Businesses partner with organizations in different regions to reach diverse markets beyond their domestic borders. This collaboration enables them to leverage local expertise, networks and resources, driving revenue growth and promoting cultural exchange.
- Pooling Resources and Expertise: Collaboration across borders combines resources and expertise from various regions, enhancing innovation and problem-solving capabilities. Diverse perspectives and knowledge foster creativity, while sharing resources such as technology and talent maximizes efficiency, accelerating business growth.
Cross-Border Synergy: How Ecosystem Partners Empowering Singapore Companies in Overseas Expansion
I&E collaboration plays a crucial role in enabling Singapore companies to expand overseas by providing access to new markets, resources and expertise. It fosters innovation by combining diverse perspectives and capabilities, leading to the development of cutting-edge technologies and solutions. The support from ecosystem partners like Enterprise SG (ESG) and A*STAR Partners’ Centre (A*PC) help companies navigate regulatory environments, access funding and establish local networks, ultimately accelerating their growth and success in foreign markets.
A*PC encouraged companies to take up the A*STAR-Suzhou Industrial Park (SIP) Tech Support Grant after conducting a detailed market study, providing crucial financial and strategic support.
Success Story of Cross-Border Partnership Through I&E Ecosystem Enablers
by Dr. Kevin Koh, Founder and CEO of Vivo Surgical
Vivo Surgical is a pioneering medtech developer and manufacturer headquartered in Singapore, with a profound commitment to patient-centric, clinically-driven innovation. With the excellent reputation of Suzhou as a medical technology hub as well as its strong links with the Singaporean government, the city was chosen as the first site for Vivo Surgical's entry into China, with A*PC as its first base of operations.
A*PC has been providing extensive support to Vivo Surgical. For instance, A*PC introduced Vivo Surgical to various commercial partners such as contract development and manufacturing organizations (CDMOs) and contract research organisations (CROs). This precise link-up enabled Vivo Surgical to access the necessary resources and expertise for their projects. This partnership facilitated crucial connections, access to grants and guidance through regulatory processes, bolstering Vivo Surgical's expansion efforts.
Moreover, this highlights the importance of I&E collaborations, including engaging with A*PC and esteemed healthcare institutions such as Singapore General Hospital, National Cancer Centre Singapore and Duke University Hospital which have led to groundbreaking achievements such as the development of innovative medical devices and international recognition. Notable accomplishments include awards like the A*STAR-SIP Tech Support Grant and the Suzhou Industrial Park Tech Pioneer Award, highlighting the transformative power of ecosystem partnerships in driving Vivo Surgical's global impact.
CALL-FOR-ACTION
Companies aiming for overseas expansion should actively engage with the broader I&E ecosystem to access vital resources such as funding, market access and technical expertise. Exploring opportunities like grants and joint innovation calls can significantly enhance their global competitiveness. For customized assistance in connecting with suitable I&E partners, companies can utilize the ACCM platform, which helps to build capabilities and streamline the process of finding the right collaborations.
Fostering Innovation: Call to Companies for Future Trends Exchange
A*STAR embraces a culture of knowledge exchange and invite companies to share future trends.
Join us in making an impact! Register HERE
