Bosch in Southeast Asia launched its regional headquarters for “grow,” the company’s global in-house innovation and start-up incubation network.
grow Singapore, set up in partnership with EDB New Ventures, intends to launch at least five new ventures by 2023 from Singapore, each with the potential to scale as new businesses for Bosch.
“Singapore’s grow hub is unique for us strategically — not only is Singapore home to Bosch’s regional office, it is also one of the world’s most prominent innovation powerhouses reflected in the robust local start-up scene,” said grow’s global head, Karsten Roenner.
“We continue to see strong government support on innovation, coupled with an organic network of founders, investors and mentors that continues to bring about positive and sustainable change in the region, making Singapore an ideal testbed for grow,” said Roenner.
AquaEasy is the first spin-off innovation under grow and has secured funding from EDB New Ventures and Bosch.
AquaEasy combines sensors, software, and services based on data analysis capabilities using artificial intelligence (AI) to transform aquaculture from art to science. It helps the region’s shrimp farmers increase yield, predictability, and implement sustainable aquaculture practices, while reducing risks and costs.
The solution has since been deployed at many shrimp farms in Indonesia, Vietnam as well in Singapore such as Qian Hu, a local aquaculture company to achieve an efficient and sustainable farming system.
“Our joint investment into AquaEasy reflects the strong market potential in Asia where the majority of global shrimp production takes place,” said Choo Heng Tong, EDB’s EVP for new ventures and innovation.
“As a corporate venture, AquaEasy leverages Bosch’s deep sensor and AI expertise for its competitive edge, and is well-positioned to tap into this market from Singapore,” said Choo.