SIT Supports Taiwanese Startups in Expanding into ASEAN at SWITCH (PR)

Recently, Startup Island TAIWAN, together
with Startup Terrace Kaohsiung, led Taiwan’s startup ecosystem to participate
in the renowned SWITCH (Singapore Week of Innovation and Technology) exhibition
held from October 28 to 30, 2024, in Singapore. In collaboration with the
Taiwan Stock Exchange and United Innovation, Taiwan’s only accelerator
established by a media group, they showcased the country’s rich ecosystem and
innovative strength. Additionally, United Innovation partnered with three
Taiwanese startups to join SWITCH, promoting international exchange and market
expansion with significant results.

SIT led 24 Taiwanese startups to SWITCH,
advancing into the ASEAN market

Singapore as a Hub Linking International
Capital with the ASEAN Market

One of SIT’s main objectives in visiting
Singapore was to help startups connect with resources and networks in the ASEAN
market. This year, SIT teamed up with the Taiwan Stock Exchange and AppWorks to
co-host “IPO in TAIWAN: Why It Matters to Southeast Asia,” illustrating to
investors and established startups how Taiwan’s capital market can serve as an
emerging fundraising channel for the ASEAN ecosystem.

At this year’s SWITCH, all 24 participating
startups achieved noteworthy outcomes. FunNow, a lifestyle booking platform,
gained rapid popularity in Singapore and partnered with prestigious brands like
the Singapore Marriott Tang Plaza Hotel and the Fullerton Hotel. DottedSign, an
e-signature solution from KDAN, offers businesses a professional, flexible, and
secure online signing experience. KDAN, recognized in the Financial Times’ list
of Asia-Pacific High-Growth Companies 500, continues to expand its reach in
Southeast Asia following the establishment of its Singapore office.

AIRA, specializing in AI technology,
successfully entered the Singapore market by signing a distribution agreement
with Evvolabs and deploying cross-camera tracking solutions at Singapore
Airport. FREE Bionics, which focuses on advanced exoskeleton technology,
recently secured $15 million in a Series B funding round led by Wistron,
Japan’s USCI, and Taiwan’s National Development Fund (NDF). They plan to expand
their rehabilitation technology to more Southeast Asian markets.

The SIT (Startups Island Taiwan) also invited the United Innovation Accelerator
to lead three startups to exhibit together: ARK Group, toii gama, and aiFREE.
Each showcased innovative solutions in their respective fields—ARK Group in
cultural technology, toii gama in developing immersive experience content using
IP, and aiFREE in AIoT technology for elderly care. They explored potential
collaborations with various partners, including potential investors and
partners for expansion in Singapore, paving the way for further cross-border
collaboration and industry development.

Startup Island TAIWAN, supported by the National
Development Council, showcases Taiwan’s innovation globally. SWITCH, a key
global innovation platform, draws startups, investors, and leaders from various
sectors. With strong financial resources, talent, and a business-friendly
environment, Singapore is a prime entry point to the ASEAN market. United
Innovation attended SWITCH and expects to boost Taiwan-Singapore startup
exchanges, expand networks, foster business and funding collaborations, and
enhance Taiwan’s global innovation presence in the near future.

Source: VRITIMES