Nordic Innovation House Singapore: Newsletter - August 2024

Features

Singapore Innovation Ecosystem Highlights

• ECOsubsea Invests in Singapore with NOK 35m from Innovation Norway, building up its hull cleaning solution in the port of Singapore.
• AI Sweden is launching the AI Exchange Initiative | Singapore-Sweden, a ten-month program in collaboration with SGInnovate and other partners, with the aim to cultivate top AI talent and foster international innovation.
• Singapore Allocates DKK 300 Million to National Robotics Programme: Opportunities for Danish Robotics Solutions Providers
• Innovation House Finland, which provides a soft-landing hub for Finnish startups in Asia and a gateway for Asian entrepreneurs in Finland, in partnership with Singapore-based VC firm Mercatus Capital, has opened a co-working space in the city-state.

Innovations in Circular Economy, Recycling and Waste Management

During Q1 of 2024, we organized a Nordic Talks Panel on “Challenging the Future of Recycling” as we deep-dived into areas relating to technology innovation in recycling, the scalability of recycling solutions and the collaborative approaches required. This was also an official side event to the World Circular Economy Forum WCEF, which presents the world’s leading circular economy solutions with business leaders, policymakers and experts participating from around the world.To read more, please visit our Nordic Innovation House Website.

Insights

Over the past two decades, Nordic companies have consistently surpassed their global counterparts in value creation, achieving an average annual TSR (Total Shareholder Return) of 11.6 percent, outstripping the global average of 9.4 percent.?

Moreover, Nordic companies exhibit a strong commitment to sustainability: they are overrepresented among global climate tech champions, companies that yield notably high economic profit compared to GDP (double their equitable share) (McKinsey & Company).

According to the World Bank, all five Nordic countries are among the top 20 countries in the world in terms of renewable energy production per capita.

For instance, almost 75% of Sweden’s electricity production comes from hydroelectric supplies and nuclear power, while around 16% comes from wind power (Heinrich B?ll Stiftung)

Sweden presents inventive solutions and vast expertise in waste collection and recycling, standing as a world leader in waste management and recycling practices.

The country boasts highly effective waste management systems, resulting in nearly negligible municipal waste deposited in landfills. Approximately 99% of household waste gets recycled into energy or materials, positioning Sweden at the forefront of this domain (Swedish Cleantech).

Opportunities

IMDA Open Innovation Platform challenges

Apply by 13 September, 2024 | Find out more

Stand a chance to win over $850k in the latest IMDA Open Innovation Platform challenges, partnered with Advanced Remanufacturing and Technology Centre, Singapore Tourism Board, PSA Singapore, Changi Airport Group, National Council of Social Services, KONE, Amgen and United Nations Development Programme.

In this call, they are looking for tech solutions ranging from AI, robotics and IoT & networking to be deployed in use-cases across advanced manufacturing, MICE events, social services, infrastructure planning, inspection, finance & accounting and many more.?

Don’t miss this opportunity again! Apply now: https://www.openinnovation.sg/challenges