SINGAPORE: More local tech start-ups are aiming to grow their presence in the United States market.   The interest from small companies doubled in the past year as firms look to tap the larger and more diverse market, the Singapore Business Federation (SBF) said.   These companies are also banking on the incoming Trump administration policies that could encourage innovation.

TESTING PROTOTYPES

Singapore-based start-up Strutt, for instance, has developed an autonomous personal mobility device (PMD) that can detect its surroundings and respond to roadblocks, making it safer and easier for users such as the elderly to get around.   The firm is looking to the US market to test out the prototype. It is heading to Las Vegas for the Consumer Electronics Show - one of the largest trade shows of its kind - later this month.   Strutt is hoping to get noticed and find suitable partnerships there, said its founder and CEO Tony Hong.    “The US is definitely one of the largest markets for wheelchairs. Also, the US is the largest market for any innovative products,” he added.    “I believe our product will be welcomed by many of the innovators and early adopters, and I think this is a good product for them to try out and to benefit the ageing society globally.”   For now, the company plans to manufacture the PMDs in Singapore.    “These personal mobility devices would really need to be trusted by our users. So they need to feel that this is safe, this is up to the quality that they can be comfortable with,” said Mr Hong.    “By making it in Singapore, we are promoting the highest standard quality and innovation, and I believe this will give lots of confidence to our users as well.”

OPENING UP OPPORTUNITIES

While bigger companies typically have the resources for a US venture, smaller tech firms with the right innovation can also have the flexibility to make the move, said the SBF.    Plans by Singapore firms to enter the US market are not slowing down, despite incoming US President Donald Trump's pledge to impose tariffs on foreign imports.   “There's a lot of uncertainty, and everybody has been having an open mind to look at what is to come, and trying to see how they can leverage this new presidency as well,” said Ms Samantha Teo, executive director of SBF’s international business division.   “The (Trump) administration could have many different opportunities open up for our Singapore companies to look into, and so they are all excited.”   Ms Teo said there has been a steady increase in the number of companies asking about the US, including the growth potential and market size.    “There’s a substantial amount of investors and venture capitalists that are available. So the entire start-up and tech ecosystem within the US is a very attractive market for most of our Singapore companies,” she added.    Homegrown electric motorcycle manufacturer Scorpio Electric is also eyeing the US market.    The firm is eagerly anticipating Trump's policies on electric vehicles and innovation, especially with his close ties to tech entrepreneur Elon Musk, CEO of automaker Tesla.    “We could see an increase in innovation within the US space, when it comes to electric vehicle components, supply chain and system providers,” said Scorpio Electric CEO Joshua Goh.    “The Europeans and the Chinese have very much been entrenched in this space. So I'm excited to see how the US pans out and how they continue to develop.”