Singapore’s EnterpriseSG has recently launched its San Francisco Overseas Centre, aiming to facilitate Singapore companies’ entry into the United States and boost trade and investment between the two countries. The centre is part of EnterpriseSG’s efforts to strengthen Singapore’s engagement on the US West Coast, following the establishment of similar centers in New York and Los Angeles.
Prime Minister Lee Hsien Loong officiated the opening, expressing hope for a strengthened relationship between the US and Asia. The new centre is expected to provide significant opportunities for Singapore firms looking to expand into the US market.
The Enterprise Development Grant (EDG) offered by Enterprise Singapore supports projects that help Singapore companies upgrade their businesses, innovate, or venture overseas. The new overseas centre will further catalyse partnerships and know-how sharing between the two innovative tech hubs. Besides tech, it will also help Singapore companies from other industries like healthcare and cleantech navigate the Bay Area’s business environment.
It also aims to help companies transform their business through innovative products, processes, and new business models. It will help them connect with mentors, investors, accelerators and corporate innovation labs to scale up. Additionally, the grant assists in defraying the costs of venturing overseas as companies look to expand into new markets.
The launch of the San Francisco Overseas Centre is a significant step in EnterpriseSG’s mission to support Singapore companies in their international expansion efforts. The centre’s establishment reflects Singapore’s commitment to fostering strong economic ties with the United States and creating opportunities for businesses from both countries to collaborate and thrive in the global market.