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Russian IT Start-ups With Support From Russian Export Center Will Get Access to Singapore’s Ecosystem

Representatives of Skolkovo Foundation and Action Community for Entrepreneurship (ACE) have discussed further cooperation options in the field of communication and IT. Established in 2003 on the initiative of the Ministry of Trade and Industry of Singapore, ACE helps foreign start-ups to enter the country’s domestic market.

The ACE’s Head of Partnerships and Marketing Marianne Tan attended the Russian stand during the international fair ConnecTechAsia-2018, where she held talks with Dmitry Khodkov, Head of Telecommunications & IT cluster of the Skolkovo Foundation.

“There are several barriers on our way to the Singapore market. These are high cost of production as well as the requirements stating that 30% of a company must be registered in the country and that you must hire local personnel. On the other hand, here is the bright side: We have the grant system and a well developed ecosystem of cooperation with business and universities. There has been a positive dynamic after the talks with Action Community for Entrepreneurship,” says Dmitry Khodkov.

ConnecTechAsia-2018 was held in Singapore from June 26 to June 28. It was split into three exhibition areas. Under the auspices of the Russian Export Center (REC), Singapore was visited by nine companies which presented their products at the two collective stands. The Communic Asia exhibition area hosted Skolkovo residents: RDP.RU, engaged in development of networking equipment; WGT, creator of the innovative technique for 3D geometry; Sum&Substance, developer of the personality identification software; Med.Me, creator of block chain technology for medical institutions, and CDN developer G-Сore Labs. The Broadcast Asia was occupied by the companies producing equipment for professional TV studios – PROFITT, TELETOR, SoftLab-NSK and Perspectiva.

“Not only can the developments of the Russian IT companies compete successfully with equivalents of the leading manufacturers, but they also can set the trend themselves. And we would like to have more such companies. This is why the Russian Export Center is ready to the best of its ability, to assist our manufacturers in winning new markets,” says Irina Furanina, representative of the Russian Export Center.

During the ConnecTechAsia companies from Russia had seminars on working peculiarities in the Asian market. Russian developers had 129 business meetings and made provisional cooperative arrangements with companies from Singapore, India, Myanmar and other Asian countries.