Startups and innovators in NSW have new opportunities to grow and expand into lucrative Southeast Asian markets with the Minns Labor Government inking new agreements with International Landing Pads in Vietnam, Indonesia and Malaysia.
Landing Pads give startups access to workspace, networks and services that help them scale up innovative ideas and get them into the market.
The International Landing Pad in NSW, which opened late last year, provides temporary desk space in the Startup Hub for global businesses looking to enter NSW and make domestic connections.
Under the new reciprocal deals with Saigon Innovation Hub (SiHub) in Vietnam, Living Labs in Indonesia and Common Grounds in Malaysia, NSW businesses get the chance to work across jurisdictions, share ideas and make the connections needed to succeed.
In the next 12 months, Investment NSW will work with SiHub, Living Labs and Common Grounds to pilot the program. Up to nine NSW companies will be given the opportunity to base themselves in either Ho Chi Minh City, Jakarta or Kuala Lumpur, while three qualified companies from each of the reciprocal nations will be based here.
The deals follow a similar arrangement put in place with India's National Association of Software and Services Companies (Nasscom) earlier this year.
The announcement was made by Minister for Industry and Trade Anoulack Chanthivong as he welcomed business leaders from across the region at the Australia-ASEAN Business Forum.
The Forum celebrates the 50th anniversary of diplomatic ties between Australia and the ASEAN member states and serves as a platform to strengthen NSW's growing trade and investment relationship with the region.
For more information on the ILP and how to submit an application visit: https://www.investment.nsw.gov.au/innovation/international-landing-pad/
Minister for Industry and Trade Anoulack Chanthivong said:
"NSW is the epicentre of startups and innovation in Australia and the region.
"By getting these agreements in place, we're making sure that the International Landing Pad doesn't just open the door to companies who want to invest in NSW, it lets NSW businesses scale-up and expand on an international level.
"One of the most exciting aspects of these arrangements is the ability for nine NSW-based companies to spend time in our partners' facilities in Southeast Asia. This will allow them to deepen their understanding of those markets and build the relationships critical to their expansion.
"The NSW Government has made expanding trade in the ASEAN region a priority, and this is another step in diversifying our trade footprint.
"The Landing Pads are part of a suite of activities the NSW Government is implementing to support the innovation sector, increase investment and boost exports."
