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Press Release

SGInnovate Partners with World Economic Forum to Accelerate Development of Circular Economy Innovations in Southeast Asia

Sep 29, 2021

Partnership enhances collaboration with the global Scale360° network on circular innovation to support sustainable development and climate action

29 September 2021, Singapore – SGInnovate today announced a partnership with the World Economic Forum’s (WEF) Scale360° initiative to advance circular economy adoption and innovation in Singapore and Southeast Asia. This partnership, unveiled at the recent WEF Sustainable Development Impact Summit 2021, also marks the first expansion of the initiative to Singapore and the region’s Deep Tech ecosystem.

Through this partnership, both organisations will leverage each other’s strengths to deliver measurable, scaled impact on circular economy innovation in Singapore and Southeast Asia.

Now part of the global Scale360° and Forum stakeholder and knowledge networks, SGInnovate is able to further expand on its mission to advance conversations and action around Deep Tech for social and economic good. Access to Scale360° resources will enable SGInnovate to build greater awareness and drive the enablement of the circular economy through technology. SGInnovate also seeks to spark opportunities, especially between startups and corporates, by drawing on tested methodologies developed for the Scale360° Circular Innovation Playbook.

As Scale360°’s first deployment in Singapore, the WEF platform will also be able to tap on and connect with SGInnovate’s 68,000-strong Deep Tech community, comprising startups, academia, corporates, investors and more. WEF can also leverage SGInnovate’s engaged community for specific global insights to advance research and development while enhancing global collaboration on other circularity issues.

Over the course of the partnership, SGInnovate will be working with Scale360° to engage other stakeholders to deliver specific, targeted programmes that unlock circular innovation through education and engagement initiatives. These activities, such as panels, roundtables and Reverse Pitches, go towards building regional circular economy communities that will connect circular innovation leaders, government stakeholders, academia and corporations on critical climate issues.

“Deep Tech has an important role to play, not just as a key engine of future economic growth, but also as an accelerant to helping us achieve our Green Plan 2030 targets. To this end, circular innovation and Deep Tech go hand-in-hand, and this partnership with the Scale360° is crucial to our overall mission to solve the world’s most challenging problems through emerging technologies,” said Dr Lim Jui, CEO, SGInnovate. “We’re looking forward to working closely with the Scale360° team to create a platform that will enable stakeholders to exchange ideas and translate innovation and research into technology-driven solutions that will guide our economy’s transition towards circularity.”

“With its structural connections to the public sector, private sector, and civil society interests, SGInnovate is positioned to apply the circular economy lens across industries and bring innovative technology solutions to circular challenges,” said Helen Burdett, Scale360°’s Global Lead, World Economic Forum. “We’re excited to see how Scale360°’s tools and methodologies will be put to use by SGInnovate’s Deep Tech community.”

Established in 2019, Scale360° is aimed at fast-tracking Fourth Industrial Revolution (4IR) impact in the circular economy by supporting bottom-up innovation and entrepreneurship. The initiative leverages innovation ‘hubs’ to bring together leaders in science, policy and business to trigger circular change guided by the Circular Innovation Playbook, Scale360°’s unique and tested methodology. By connecting circular innovation initiatives around the world, Scale360° seeks to encourage the exchange of learnings and showcase new circular solutions with support from Circular Innovation Playbook tools. Beyond its impact on global consumption patterns, research suggests that the move towards a circular economy could generate $4.5 trillion in additional economic output by 2030.

To stay up to date regarding Circular Economy activities organised by SGInnovate, please visit https://www.sginnovate.com/events .

About SGInnovate

At SGInnovate, we build and scale Deep Tech startups into high potential companies with global impact. We believe that hard global problems can be solved using Deep Tech, and Singapore, where we are based, is uniquely positioned to realise Deep Tech innovations that can tackle these challenges. Our Deep Tech Nexus Strategy is focused on adding tangible value to the Deep Tech startup ecosystem in two key areas – development of Human Capital and deployment of Investment Capital. With the support of our partners and co-investors, we back entrepreneurial scientists through equity-based investments, access to talent and business-building advice. Our efforts are prioritised around emerging technologies such as Advanced Manufacturing, AgriFood, Artificial Intelligence, Autonomous Vehicles, MedTech and Quantum Computing, which represent impactful and scalable answers to global challenges.

SGInnovate is a private-limited company wholly owned by the Singapore Government. For more information, please visit www.sginnovate.com.

For media queries, please contact:

Christopher Sim
Corporate Communications, SGInnovate
[email protected]