Six high-growth early-stage businesses from Norway arrived in Singapore today to start the Tech Incubator (TINC Asia) program operated by Joyful Frog Digital Incubator (JFDI) working in partnership with Innovation Norway. TINC Asia offers an intense 3-week mentoring experience that will help the teams align and connect their businesses with Asian markets for distribution and development of future products and services.
TINC Asia began with a 3-day briefing session in Oslo in June, after which participants have researched target markets in Asia remotely and prepared to meet with potential business partners in Singapore while they are in the country from 17 August to 4 September.
Adrian Tan, who leads TINC Asia at JFDI said: “Both Norway and Singapore are similar in terms of population size as well as strong government support for innovation and entrepreneurship. The companies have unique technologies that can benefit Singapore’s vision of a Smart Nation.”
Participants in the TINC Asia program will receive strategic guidance for global expansion, delivered by mentors on an individualised basis for each company. They will have the opportunity to connect with the local community every day as they work from BASH, part of Singapore’s tech cluster Blk 79 in the JTC Launchpad at One North. Pitching and cultural induction support will help them to present at networking event attended by investors, multinational companies and potential partners. Then for six months after the program teams will be able to use JFDI facilities to follow through on all the connections they have made.
This is the second time that JFDI and Innovation Norway have worked together to deliver TINC Asia. The new program builds on the relationships developed by JFDI and Innovation Norway over the last two years and expands the range of industries which the program covers substantially.
Torunn Aass Taralrud, Regional Director at Innovation Norway said: “Norway is similar to Singapore in the sense that the home markets are small. This means that high-potential startups need to focus on international expansion early. TINC Asia offers access to some of the best local startup resources in Asia and provide a unique learning experience for these companies.”
The 6 Norwegian teams joining TINC Asia today are:
- Biogrid, offering Vertical farming in urban areas (www.biogrid.no)
- Kaizit, with a specialised IT solution promoting efficiency and quality of shipping dry docking (www.kaizit.com)
- Kubicam, providing Enhanced video conferencing facilities (www.kubicam.com)
- Nlink, with a mobile drilling robot for the construction industry (www.nlink.no)
- Pointmedia, promoting Point of sale marketing (www.pointmedia.no)
- Touchsystems, which develops, supplies and operates digital information systems (www.touch-systems.no)
Speaking for all the participants, August FLATBY, CEO of Biogrid AS said: “Singapore is a beautiful and hyper-modern country and we’re happy to have the opportunity to visit during its 50th anniversary.”
Innovation Norway is the Norwegian Government’s most important instrument for innovation and development of Norwegian enterprises and industry. Innovation Norway supports companies in developing their competitive advantage and to enhance innovation.
Norwegian enterprises have access to a broad business support system as well as financial means. Innovation Norway provides competence, advisory services, promotional services and network services. The marketing of Norway as a tourist destination is also considered one of the organizations important tasks. By combining local industry knowledge and international networks with the business ideas and the motivation of entrepreneurs, the foundation for new successful businesses is created.
Innovation Norway is the Norwegian government’s official trade representative abroad.