The Action Community for Entrepreneurship (ACE) Signs Memorandum of Understanding (MoU) with The National Information Technology Park (NITP) of Mongolia

Action Community for Entrepreneurship (ACE), a national private organization with the mission to drive innovation and entrepreneurship in Singapore has signed a Partnership MoU with the National Information Technology Park (NITP) of Mongolia, which is a state enterprise, promoting entrepreneurship, innovation and startup ecosystem development in the country.

The objectives of the  MoU’s aim to promote cooperation in supporting and developing the startup ecosystems, and foster global enterprise between Singapore and Mongolia.

One of its main objectives is to bolster and guide the Mongolian startups and entrepreneurs to enter Asian markets. ACE Singapore will support NITP in promoting entrepreneurship and innovation both within Mongolia and out of Mongolia through its programs like 3 weeks Market Access Program and the National Youth Entrepreneurship Award.

NITP is collaborating with the “Doing Business in Asia Alliance”, an international business association and headquartered in Ulaanbaatar in the execution and realization of the MoU, signed with ACE Singapore.

Within the scope of the cooperation, they just launched “Access Asia” export acceleration program in Mongolia in March 20, 2019. The program is kindly supported by the alliance's strategic partners Montgomery Fitch + Associates, a multinational holding company operating across the Asia - Pacific, Warwick & Roger, an emerging political risk assessment and advisory firm based out of the Philippines, and Dezan Shira and Associates, a foreign direct investment specialist with 25 years of experience.

The program will enroll only 5  to 10 entities and have them go through intensive 10 weeks program, combined with Business Bootcamp and One-on-One Mentoring, to be provided by the selected group of highly experienced and successful international and local business consultants and entrepreneurs. The program will enable the participating businesses 1/ to go through profound business holistic analysis of their current situation as compared to their regional peers, 2/ to conduct comprehensive analysis on their target markets and their consumer behaviors, and 3/ to produce their go-to market strategies for the short, mid and long term in order to achieve their internationalization plans in the most efficient and effective ways.

Two successful participants of the program will join to the ACE Singapore’s “Market Access Program” which will take place in July, 2019 in Singapore.

ACCESS ASIA 2019: Export Accelerator Program - Mongolia Edition will run through April - June 2019.

Therefore, the parties will organize “Young Entrepreneurship Mongolia” program and the successful candidates will participate in Singaporean Young Entrepreneurship program.

Further, the parties will work on the projects to expand their collaboration with South East Asian Countries.