InnovFest Suzhou 2024: Empowering startups with growth opportunities in China

Bringing together cutting-edge ideas and entrepreneurial energy, the annual InnovFest Suzhou, organised by NUSRI Suzhou and supported by NUS Enterprise, attracted thought leaders, innovators, and startups under the key themes of Artificial Intelligence (AI) & Digitalisation, and Sustainability. By facilitating meaningful exchanges among diverse participants, InnovFest Suzhou which was held at NUSRI Suzhou from 18 to 19 November 2024, contributed to the ongoing development of an innovative ecosystem in the region.

 

This year marks the 30th anniversary of the Suzhou Industrial Park (SIP), a pioneering joint venture established in 1994 between Singapore and China. This milestone serves as a testament of the enduring partnership, as emphasised by Professor Chee Yeow Meng, NUS Vice President of Innovation and Enterprise.

 

In his welcome address, Professor Chee Yeow Meng, NUS Vice President (Innovation and Enterprise) noted that the collaboration between China and Singapore has been instrumental in the success of the Suzhou Industrial Park. Initiatives like InnovFest are crucial for fostering a global innovation ecosystem that drives sustainable development and empowers entrepreneurs. He added that this year’s InnovFest Suzhou has gathered startups from around the globe to accelerate innovation and tackle pressing global challenges, particularly highlighting the growing number of women entrepreneurs who are shaping the future of technology and business.

 

The two-day event attracted over 400 attendees, featuring nearly 40 startups from Singapore, China, Chile, Germany, Indonesia, and Thailand, along with representatives from nine institutes of higher learning and three government agencies. These startups showcased transformative innovations in AI, sustainability, and other cutting-edge technologies, with almost 40 per cent of the startups led by female founders, highlighting the increasing involvement of women, stepping beyond traditional roles and bravely taking on new challenges.

 

The showcase included a variety of innovative solutions, such as AI and IoT-powered farming techniques that boost crop yields while minimising environmental impact. Construction technologies utilising robotics and material optimisation aimed to reduce waste and improve efficiency. Food tech startups presented sustainable production methods, while companies focused on sustainability introduced advanced recycling, carbon capture, and renewable energy technologies. Additionally, medical tech companies unveiled breakthroughs in diagnostics and remote health solutions, and wearable devices, advancing accessible and personalised healthcare, collectively demonstrating the potential of deep tech to address pressing global challenges sustainably and inclusively.

 

Beyond a startup technology showcase, InnovFest Suzhou also featured a dynamic array of activities designed to engage, inform and inspire attendees. The event included keynote sessions by Professor Lee Poh Seng, Executive Director, Energy Studies Institute and Dean’s Chair, NUS College of Design and Engineering on “Sustainable Innovation: Pioneering a Greener Digital Infrastructure”, and Mr Yoann Sapanel, Head (Health Innovation), Institute for Digital Medicine at the NUS Yong Loo Lin School of Medicine, on “From AI Solutions' Efficacy to Real-World Impact” respectively. Another six insightful panel discussions explored the challenges and opportunities associated with implementing sustainable practices and harnessing AI to drive digital transformation.

One of the event’s highlights was the Tech Pitch Battles, where affiliated overseas start-ups of NUS Enterprise presented their groundbreaking solutions in diverse fields such as medical tech, food tech, and renewable energy, to a panel of venture capitalists and investors, underscoring the vibrant startup ecosystem.