JOINT PRESS RELEASE

Singapore, 20 September 2023

NUS and JR East sign MOU to create new opportunities for entrepreneurs in Singapore and Japan

The National University of Singapore (NUS) and East Japan Railway Company (JR East) have signed a Memorandum of Understanding (MOU) on 19 September 2023 to collaborate and advance innovation and entrepreneurial exchange between both countries. The MOU was signed yesterday at the Takanawa Gateway Station by Professor Tan Eng Chye, NUS President and Mr Yuji Fukasawa, President and CEO, JR East.

Acknowledging the partnership as a commitment from NUS and JR East to foster innovation and entrepreneurship in the ecosystems of both countries, Professor Tan Eng Chye, NUS President said, “NUS is excited to embark on this partnership with JR East to create new opportunities for entrepreneurs in Singapore and Japan. Through our collective expertise and resources, we hope to empower start-ups, facilitate the applications of emerging technologies and enhance ecosystem building that advances societal impact and economic growth in both countries.”

Under the MOU, NUS and JR East will collaborate in three areas to enhance the innovation and enterprise ecosystems of both countries over the next five years:

1. Co-organise activities and nurture start-up communities both in Japan and Singapore by supporting start-ups expansion into each other’s market

• To develop talent in entrepreneurship and innovation in the region, NUS will organise programmes, such as immersion trips that allow start-ups from Singapore to gain first-hand knowledge of the Japanese business environment and network with Japanese companies and officials. For example, from 11 to 15 September 2023, five start-ups from Singapore and Indonesia completed a week-long immersion trip to Japan where they gained a better understanding of the Japanese business environment, enjoyed business matching opportunities with companies in Tokyo, and networked with leading Japanese businesses and government officials.
• JR East experts in the areas of railway and lifestyle business, such as smart cities and internet of things, will share their expertise and knowledge of the Japanese market in the immersion programmes organised by NUS in Japan’s Kanto area. This allows participating start-ups to become more familiar with the Japanese business environment, facilitating any potential expansion into the country.

2. Co-develop an entrepreneurial hub in Takanawa Gateway City

• JR East will facilitate partnerships with corporations and other enablers to support NUS affiliated start-ups looking to establish a presence in the Takanawa Gateway City.
• NUS will use the Takanawa Gateway City as a base from which to grow its entrepreneurial and innovation offerings. For example, BLOCK71 is exploring setting up an office in the City as a launchpad to extend its start-up ecosystem in Tokyo.

3. Create test-bedding and opportunities that encourage the adoption of innovative technologies and solutions in Japan

• Both parties will advance the development and application of technologies by exploring collaborations for knowledge-sharing and test-bedding opportunities in Japan. For a start, the key focus area will be sustainability.

Commenting on this new partnership, Mr Yuji Fukasawa, President and CEO, JR East, said, “We are partnering with the National University of Singapore to establish a global startup ecosystem based in Takanawa Gateway City. We will continue to promote industry-academia collaboration with diverse partners both domestically and internationally. Additionally, we will work towards creating value in urban development as an experimental playground for a fulfilling life a century from now.”