Block71 to construct sustainable business startup ecosystem in SIP
NUS Enterprise, NUS (Suzhou) Research Institute and Ascendas-Singbridge Group signed a cooperation agreement on June 6. According to the agreement, the three parties will take full advantage of their strengths and resources to jointly construct the Block71 Suzhou project in SIP, aimed aestablishing a vigorous and sustainable ecosystem for business startups.
Block71 is Singapore's iconic startup hub initiated by NUS Enterprise, in an effort to promote growth of science and technology startups. Currently, the hub is home to more than 30 venture capital investment organizations and 250 startups, and more than 20 events take place there every month. The Economist referred to Block71 as the "world's most tightly packed entrepreneurial ecosystem". It has established branches in San Francisco and Jakarta.
Block71 Suzhou will focus on a number of high-end industries, such as AI, robots, biotechnology, cloud computing and smart equipment, to serve as a platform for Singaporean and global science and technology startups seeking for development in China.