PRESS RELEASE
PR-108-2024
SINGAPORE, 20 September 2024 – On Wednesday, 18 September 2024, the Memorandum of Understanding on the launch of the Philippine Innovation Hub at the Singapore Management University (SMU) was signed by National Development Company (NDC) General Manager Undersecretary Antonilo Mauricio; President of Philippine Chamber of Commerce in Singapore Mr. Benjamin Ong; Co-Founder and CEO of Reactor School Mr. Ryusdi Khairul; CEO of ACE SG Mr. Patrick Lim; SMU Vice President for Partnerships and Engagement, Professor Lim Sun Sun; and PRO Vice Chancellor of Transnational Education and Dean of Murdoch University Professor Peter Waring,
The Philippine Innovation Hub or iHub, will be housed at SMU’s “The Greenhouse” and aims to create a space for Philippine startups to connect with international partners. The MOU also includes plans for student exchanges, training programs for NDC employees, and efforts to strengthen ties between Philippine and Singaporean innovation ecosystems in areas such as renewable energy, sustainable practices, and entrepreneurship.
The iHub also aims to foster a collaborative ecosystem for innovation, accelerate startup growth and global competitiveness, and promote Inclusive and sustainable economic development. It targets economic empowerment, cultural preservation and promotion, skills development and growth, community building and social impact, innovation and sustainability, global recognition and market expansion.
NDC General Manager, Undersecretary Mauricio, said that Singapore, given its strength as a business hub, was the first country he thought of partnering with to strengthen the Philippines’ start-ups and innovation system.
Philippine Ambassador to Singapore Medardo Macaraig, in his remarks, said that the iHub is a tangible representation of the strong ties between the Philippines and Singapore, united by a shared vision of innovation-driven economic progress – as we take the first step towards the next 55 years of Philippine and Singapore bilateral relations.
The signing ceremony was presented during the 4th Philippines-Singapore Business and Investment Summit held at the Shangri-La Hotel on 19 September 2024 by Undersecretary Mauricio and SMU Institute of Innovation and Entrepreneurship Senior Director Sze Tiam Lin. (END)
