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Editorial Start-ups are often the driver of the digital transformation. They are willing to take risks, are open for new paths and methods, have dynamic and adaptable structures, often collaborate closely with the technology and research communities and are strongly oriented toward success. START UPS References: — Article: BMWi Digital Strategy 2025: Launching the New Start-Up Era: Assisting start-ups and encouraging cooperation between young companies and established companies — Citation: https://www.bmwi.de/English/Redaktion/Pdf/digital-strategy-2025,property=pdf,bereich=bmwi2012,sprache=en,rwb=true.pdf — Article: Accreditation@IDA: https://www.ida.gov.sg/Startups/ Accreditation 40
Many start-ups develop digital solutions and business models that are quickly scalable and provide interesting solutions for established companies. It is then no wonder that both Germany and Singapore are embarking on projects to nurture this high potential sector, empowering start-ups to make developments, scale up and contribute globally. In this section, we give an overview of some of the initiatives made in each nation. In its Digital Strategy 2025, the German Federal Ministry for Economic Affairs and Energy are encouraging startups through the following measures: • Establishing the Coparion-Fonds to improve assistance for technology start-ups • Aiming to create a High-Tech Start-Up Fund (HTGF) with volume of around €300 million by 2017. HTGF will offer initial financing for young, quickly expanding technology companies • Improving the legal and tax framework to keep Germany as a competitive location for venture capital funds • Exceptions made to tax rules for young, innovative companies- ones that are effective and conforms to EU law • Supporting the Digital Innovation Start-up Competition (Gründerwettbewerb Digitale Innovationen) • Promote internationalisation of German start-ups with information, advisory and support services • Continuing Women as Entrepreneurs Initiative (FRAUEN unternehmen) • Reduce bureaucracy in the initial phase by introducing a single point of contact (Ansprechpartner 2.0) • Converge existing information and advisory services for business starters and entrepreneurs into Start-up Portal 4.0 (Gründerportal 4.0) As Singapore moves towards becoming a Smart Nation, one of IDA’s priorities is to grow the technology industry through assisting the growth of our young and promising Singapore-based technology companies. For our local technology companies, being accredited will open up more opportunities for their products and solutions to be showcased and eventually bought. For buyers from the Government and large enterprises, the accreditation process would provide an independent third party evaluation of the companies’ claimed product core functionalities and ability to deliver. And as of end September 2016, 15 of these innovative tech companies have been accredited. Accreditation@IDA also provides support to grow early-stage innovative technology start-ups through our collaboration with selected accelerators such as Startupbootcamp. Accreditation@IDA is helping the startups to strengthen their technical architecture and product quality through technical advisory and in-depth product testing, and build a robust business through advice on financial modelling and fund raising. Our assistance complements the accelerators’ mentoring efforts and are tailored to the startups’ growth stages and needs. All these efforts enable Accreditation@IDA to build an innovative technopreneur ecosystem to support the Singapore’s Smart Nation vision. This ecosystem forms the next generation of technology companies in driving the next wave of economic growth for Singapore. Moving forward, Accreditation@IDA is expanding the programme to help and grow more start-ups in strategic verticals such as the media and healthcare sectors, and is currently in discussions with key stakeholders from these sectors. <strong>SGC</strong> Business Magazine 2016/2017 41
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