Singapore Management University and the National Development Company – the Philippines’ state investment arm – forged a new partnership on 18 September 2024 to mutually boost their innovation and entrepreneurship ecosystems.

  The MOU signing ceremony between SMU and NDC on 18 September 2024

When Mr Anton Mauricio, General Manager of the National Development Company (NDC), sought overseas partners to strengthen the start-ups and technology ecosystem in the Philippines, the first country he thought of was Singapore as it was a focal point for business.

But who could the NDC, the Philippines’ state investment arm, partner with in Singapore?

Mr Mauricio shared that during the pandemic, he undertook a digital leadership course at SMU, which also runs one of the best university-led innovation and entrepreneurship programmes in Singapore.

He shared, “The more I found out about SMU, the more convinced I was that it was the perfect first partner.”

He connected with SMU and both parties worked hard on collaboration plans. 

The result? A MOU between SMU and NDC, signed on 18 September 2024, which outlines how both parties can pool resources, share talents and work together on growing their innovation eco-systems.

55 Years of Friendship

At the MOU signing ceremony, SMU’s Vice President of Partnerships & Engagement Lim Sun Sun said that the collaboration celebrates 55 years of diplomatic relations between both countries.

She said, “We have built up a strong foundation and today, we take a bold step towards preparing Southeast Asia for the future together.”

Philippine ambassador to Singapore, Mr Medardo Macaraig, added, “This MOU is a tangible representation of the strong ties between our two nations. We are united by a shared vision of innovation to drive economic progress."

Prof Lim shared that Southeast Asia as a whole has been recognised as an innovation hub. A whitepaper on university innovation and entrepreneurship that SMU championed with the ASEAN University Network highlighted how many Southeast Asian universities – including SMU and the De La Salle University in the Philippines – are excelling in innovation education. 

“We are in the best place and the most opportune time to build up a strong regional innovation and entrepreneurship eco-system,” she said.

Moreover, NDC is home to the Philippine Innovation Hub or iHub. A community and space for Philippines start-ups and members of the government and private sector to network, get creative and grow their ideas, iHub shares a similar mission to the driver of innovation in SMU, its Institute of Innovation and Entrepreneurship (IIE).

Said Prof Lim, “Innovation and entrepreneurship (I&E) is built into our university’s DNA. We do not just infuse I&E elements into what our students learn, but just like iHub, we are a focal point for I&E engagement and learning in the wider community.”

Inside the MOU

The signing of the MOU will enable both NDC and SMU to share physical innovation spaces. SMU’s innovation hub, The Greenhouse, would be a key Singapore site for innovation talents from the Philippines.

It will expand the pool of opportunities for SMU students to venture overseas, to Singapore or Philippines, to seek out learning or business opportunities. For instance, under the SMU Global Innovation Immersionprogramme, students who seek out internship opportunities at innovation powerhouses around the world will be able to get work experience in start-ups in the Philippines which are incubated within iHub.

The collaboration will also enable the SMU and NDC communities to plug into new networks and meet new partners beyond their home countries.

As Prof Lim concluded, “Today is just the first step in what promises to be a successful and rewarding collaboration. May we work together in concert to create something truly exceptional.”