THE Republic looks set to become a hothouse in Asia for medical technology, as two medtech incubators from Israel and China set up shop here to develop healthcare products for their commercialisation in bigger markets, such as China and the US.
Hangzhou, the hometown of Chinese e-commerce giant Alibaba, eight million residents and hundreds of technology-linked companies, is fast becoming the Silicon Valley of China. Startups from all over the world are flocking there, attracted by an easy entry point into the vast Chinese market.
Within a short space of time, the cash available to new start-ups in Southeast Asia has gone from virtually non-existent to abundant. And that, say analysts, reflects the potential a growing number of investors see in firms that mostly start in Singapore and expand into the much bigger Southeast Asian market.
AN INVESTMENT vehicle started by local firm Singapore HealthTech has signed an agreement it hopes will give it a foothold in China. Venturecraft, which supports start-ups with intellectual property, struck the deal with the government of Hangzhou province earlier this month.
IN APRIL, up to 10 Singapore-based startups will start mapping out (some, in fact, would already have made) their foray into China, having qualified for VentureCraft, the S$4 million initiative launched early this year that helps startups expand into high- growth foreign markets.