Singapore is set to strengthen ties with Norwegian companies following a strategic alliance between Norwegian University of Science and Technology (NTNU) and Singapore-based non-profit company IPI.
NTNU is Norway's main technological university and this agreement makes it IPI's first Network Partner in the Nordic region.
The university will also have access to Singapore industries that could commercialise NTNU's innovative research.
The two-year agreement between the two partners was signed virtually and highlights the importance of intellectual property.
"IPI builds and works with a network of international technology partners and intermediaries to search for the right technology to fulfill industry's requirements," said IPI's executive director, Dr. Lim Khiang Wee. "NTNU is recognised as one of the foremost technology universities in the world with particular strengths in the offshore & maritime, ICT and healthcare sectors."
Potential in the agreement
Both partners see tremendous potential in the agreement signed.
By leveraging its position as an IPI Network partner, NTNU will present and make available its chosen technologies and innovations to relevant industries based in Singapore.
IPI helps Singapore-based enterprises source, acquire and adopt enabling technology and expertise. This alliance gives NTNU access to IPI's extensive industry network, which in turn will benefit both partners.
"I am confident that IPI can play a catalysing role in opening doors for opportunities for cross-border technology licensing and collaborations between NTNU and the Singapore-based enterprises," added Dr Lim.
NTNU's Dr. Hustad notes that looking forwards these types of initiatives will be supported by the relevant public authorities in Norway, such as the Ministry of Trade and Commerce.
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