Austrade Deepens Southeast Asia-Australia Startup Collaboration

Singapore – 30th May 2019 - The Australian Trade and Investment Commission (Austrade) Landing Pad in Singapore has officially unveiled its latest cohort of promising startups in Singapore. At an event graced by Bruce Gosper, Australian High Commissioner to Singapore, eight startups across the fields of cybersecurity, fintech and HR-tech were unveiled in Singapore, where they will be based while undergoing a 90-day tailor-made residency program.

During the kickoff event, the startups had the opportunity to pitch to a room of over 80 people made up of investors, the startup community, thought leaders, and corporates who could be seeking investment and business development leads. For this cohort, Austrade has also partnered with the Australian Cyber Security Growth Network (AustCyber), which is supported by the Australian government. Together both bodies look to mitigate and eliminate cybercrime across the Asia-Pacific region.

Taliessin Reaburn, Trade Commissioner, Austrade Singapore said, "The Landing Pad in Singapore is excited to show these startups what Singapore has to offer. They will be able to experience the diverse culture and exposure to global business practices, especially from Southeast Asia. The startups will also be exposed to a more advanced investment and venture capital space, and have access to new clients and sources of revenue.”

“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,” added Reaburn.

The latest batch of startups builds on the success of earlier cohorts as 42% of the startups already have local offices and hires in Singapore. Through the efforts of the Landing Pad and Austrade, recent graduates have expanded to markets such as India, Indonesia, Nepal, The Philippines and Vietnam. The Landing Pad has helped raise around US$15.8M (AUS$23.5M). More than 50 collaborative agreements have formed, including one with a Singapore government agency.

Austrade’s Landing Pad, Singapore Cohort 8 tech startups include: • Aiculus: Technology provider that uses Artificial Intelligence to secure APIs against abuse and fraud • Awakened Mind: Healthtech startup that helps to promote mental health within organisations • Entersoft: Application security provider helping businesses across fintech and blockchain technology • FifthDomain: Cybersecurity training platform and service provider for government, enterprise and defence. • Imperium Markets: First Australian Markets Licensed fintech provider that allows users to transact electronically • Lendhaus: Global CRE lending marketplace that massively speeds up the financing process from loan bid to loan settlement • Privasec: An independent security, governance, risk, and compliance consulting firm • Ubidy: Cloud-based recruitment management software that connects employers with top recruitment agencies

The Landing Pad program is part of Australia’s National Innovation and Science Agenda. Other than Singapore, the Landing Pads operate in four key locations: San Francisco, Tel Aviv, Shanghai and Berlin. Each Landing Pad assists market-ready Australian startups and scale-ups in accessing some of the world’s most renowned innovation ecosystems. This immersive environment provides comprehensive resources, workshops and support to position startups for rapid growth. The startups will also be able to tap on the strength of all of 81 Austrade offices in 48 markets, its business and investor networks and strategic partners.

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.”

“We are heartened to see the wealth of knowledge and networks our past cohorts had gained and are confident that this cohort will benefit from the program as much as the previous,” added Mark.

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About the Australian Trade and Investment Commission The Australian Trade and Investment Commission (Austrade) is the Australian Government’s international trade promotion and investment attraction agency. It delivers quality trade and investment services to businesses to grow Australia’s prosperity by generating and providing market information and insights, promoting Australian capability and facilitating connections through its extensive global network. To learn more, visit: https://www.austrade.gov.au

About Singapore Landing Pad @ JustCo The Landing Pads program provides market-ready startups and scale-ups with potential for rapid growth a cost effective option to land and expand into major global innovations hubs around the world. Five Landing Pads have been established in San Francisco, Tel Aviv, Shanghai, Berlin and Singapore. The Landing Pad in Singapore operates out of JustCo at UIC Building. For 90 days, Landing Pad participants have opportunities to collaborate with more than 17,000 JustCo members and access their global spaces during the program period. They will also receive support from Austrade’s network to provide one-on-one business development assistance. To learn more, visit: https://www.austrade.gov.au/landingpads/locations/singapore