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Digital Economy

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Thailand believes that collaboration is paramount to fostering digital transformation faster. The country has been actively promoting digital construction and improving its technological capabilities to achieve its vision for digital development. To gain more collaboration, Mr Prasert Chandraruangthong, the Minister of Digital Economy and Society (DE), along with Dr Natthaphon Natthasomboon, Deputy Permanent Secretary of the Ministry of Digital Economy and Society, led a delegation to the Mobile World Congress 2024 (MWC) in Barcelona, Spain, this February 2024. Their visit aimed to bolster investment cooperation and fortify the digital ecosystem in Thailand.

Image credits: mdes.go.th

During the congress, Mr Prasert expressed gratitude for the support from the private sector in driving Thailand’s digital development following the urgent policies of 2024. He emphasised the importance of increasing international competitiveness and ensuring the security and safety of the country’s citizens in the digital realm. The delegation engaged with various technology companies, aiming to explore avenues for collaboration in digital transformation.

The technology companies participating in the congress reiterated their dedication to supporting Thailand’s digital transformation across critical sectors, including the National Government Network, National Communication Network, Cloud First Policy, and Data & AI Platform. This commitment aligns with the memorandum of understanding signed between the Ministry and the technology company, which aims to accelerate Thailand’s digital development.

Another tech-cloud company showcased its cloud services to strengthen the digital economy and enhance digital capabilities in Thailand. The company also highlighted the Sovereign Cloud Infrastructure system, which ensures data security for the country. One of the Norwegian telecommunication companies discussed collaboration opportunities to promote 5G technology and digital platforms and support start-ups to bridge the digital divide in Thailand.

Another tech company presented its Generative AI technology, which operates on its Cloud, showcasing its potential to elevate Thailand’s digital landscape. The delegation also visited the satellite internet technology company, which offers internet services in remote areas and promotes public health and education through satellite-based internet applications. Additionally, T3 Technology presented computer solutions integrating AI, Cloud, and IoT technologies, including smart household appliances and offices.

Moreover, Mr Prasert and his delegation also attended the GSMA Ministerial Programme under MWC 2024. The GSMA Ministerial Programme is a significant forum for policymakers and global industry leaders within the mobile ecosystem and related sectors. This event gathers leading figures in the digital domain to provide insights and strategies on key policy areas such as 5G expansion, artificial intelligence, digital inclusion, and climate action.

Discussions centred on regulating AI in the telecommunications and industrial sectors with an ethical compass. Defining corporate AI ethics guidelines was emphasised, highlighting the need for collaboration in the digital ecosystem to ensure future Generative AI is neutral and beneficial to society.

The Minister and the delegation also engaged in bilateral discussions with GSMA APAC executives, discussing ways to drive Thailand’s digital development under the new engine policy, “The Growth Engine of Thailand.” GSMA executives praised Thailand’s progress in developing the 5G network, ranking it first in the ASEAN region. They expressed interest in co-organising Thailand’s Asia-Pacific 5G Summit to continue exchanging 5G technology development guidelines. Discussions also included digital innovation, AI technology and governance, information exchange, national digital growth, and cybersecurity.

Mr Prasert’s visit to the MWC 2024 in Barcelona was instrumental in advancing Thailand’s digital transformation agenda. Engagement with technology companies and participation in high-level forums underscore Thailand’s commitment to embracing digital technology for economic growth and societal advancement.

After attending this congress and meeting with multiple stakeholders, companies, and ministries around countries in Barcelona, Mr Prasert, as a representative of Thailand, gained valuable insights into the latest trends and innovations in digital technology. The knowledge and connections he has acquired at the Mobile World Congress 2024 will be crucial in driving Thailand’s digital transformation agenda forward, ensuring that the country remains competitive and innovative in the digital age.

Deputy Prime Minister and Minister for Finance, Mr Lawrence Wong, delivered the FY 2024 Budget Debate Round-Up Speech in Parliament. Addressing a variety of critical issues, he emphasised the pivotal role of technology, skill upgrading, and innovation in navigating the ever-evolving landscape of global economics and securing a prosperous future for citizens.

Singapore’s unique position as a small, resource-scarce nation necessitates a constant drive to remain relevant and add value to the global stage. Unlike its resource-rich counterparts, Singapore’s growth relies heavily on its ability to attract investment and enhance its value proposition. Recognising this, the nation has continually evolved, transforming its economy to stay competitive and capitalise on its strengths.

To sustain growth in the coming years, Singapore must prioritise productivity improvements, as emphasised by Deputy Prime Minister Heng. Ambitious targets aim for 2-3% economic growth, with productivity gains contributing 1-2 percentage points. Achieving this requires a concerted effort from businesses to embrace new technologies, workers to acquire new skills, and the emergence of new sectors to replace declining industries.

Central to this strategy is attracting high-quality investments and maintaining steady investments in research and development (R&D). Initiatives like the Refundable Investment Credit and top-ups to RIE2025 aim to drive innovation and push the productivity frontier. Concerns about a two-track economy – one for MNEs and another for SMEs – are addressed through enhanced partnerships and support schemes to encourage restructuring and productivity enhancements across sectors.

The workforce plays a crucial role in Singapore’s growth trajectory. Efforts to grow the resident workforce are complemented by the inflow of foreign workers, regulated to ensure balance and quality across all levels. Initiatives like the Workplace Fairness Legislation and investments in skills development through schemes like SkillsFuture aim to empower Singaporeans, ensuring fair opportunities and equipping them for success in the global marketplace.

Addressing the aspirations of Singaporeans, particularly the younger generation, goes beyond material success. The concept of a refreshed “Singapore Dream” resonates with the desire for meaning and fulfilment in work and life. Government initiatives, such as the SkillsFuture Level-Up Programme and support for Singaporean leaders in MNEs, aim to provide diverse pathways for personal and professional growth, nurturing a society where everyone can realise their fullest potential.

As reported by OpenGov Asia, Deputy Prime Minister and Minister for Finance Lawrence Wong elaborated on its theme of ‘Building Our Shared Future Together’ during the unveiling of the 2024 Budget statement. This budget marks the beginning of the #ForwardSG roadmap, aimed at propelling Singapore forward amid global challenges and uncertainties, empowered by technology.

Budget 2024 strengthens support for Singaporeans across diverse sectors, addressing immediate challenges, fostering growth and employment, enhancing equality and mobility, and ensuring security for families and seniors, laying the groundwork for a resilient shared future.

From a tech/ICT perspective, the Singapore Budget 2024 envisions a comprehensive set of initiatives aimed at addressing various issues and opportunities faced by Singapore, spanning areas such as technology, innovation, cybersecurity, sustainability, and energy transition. It unveils plans for an SG$1 billion investment over the next five years in AI, alongside diversified investments in NAIS 2.0, RIE 2025, the National Cyberse

Sustaining growth and securing a better future for Singaporeans hinges on innovation, productivity, and strategic investment in human capital. By fostering a culture of adaptation, embracing technological advancements, and prioritising the aspirations of its people, Singapore is poised to navigate the complexities of the global economy and emerge stronger in the years to come.

Hong Kong Science and Technology Parks Corporation (HKSTP) was upbeat about the 2024-25 Budget unveiled by the Financial Secretary. The budget reinforces the commitment to bolster Hong Kong’s innovation and technology sector through a slew of policies and measures designed to attract cutting-edge global enterprises and talent to the city.

Dr Sunny Chai, Chairman of HKSTP

“We are heartened by the Budget’s emphasis on fostering societal development through comprehensive support for I&T ventures and talent while catalysing economic diversity. The proactive leadership and backing from both the country and HKSAR Government not only attract enterprises, funding, and talent but also refine and enhance the I&T industry value chain,” Dr Sunny Chai, Chairman of HKSTP said, “We firmly believe that I&T serves as the cornerstone in propelling a diversified economy, and HKSTP is committed to aligning with strategic government policies, collaborating closely across sectors to fortify the ecosystem, cultivate the talent pool, and bolster the city’s I&T competitiveness.”

HKSTP, as a premier I&T institution, has played a vital role, attracting around 10 strategic enterprises to establish R&D centres or global headquarters at Hong Kong Science Park over the past year. This brings cutting-edge technology, funding, and high-value jobs, nurturing HKSTP’s I&T ecosystem.

Talent acquisition is crucial for successful I&T development, and HKSTP actively backs the government’s talent attraction efforts, especially after implementing the Top Talent Pass Scheme (TTPS). HKSTP will host another career expo with over 3,000 job openings. Initiatives like the Global Internship Programme and other promotions aim to draw talent from diverse backgrounds into the I&T community.

The New Industrialisation Acceleration Scheme, introduced in the Budget, reflects the government’s commitment to driving new industrialization. This initiative supports ventures in designated industries to achieve advanced manufacturing status through matching support, fostering the establishment of new manufacturing hubs. HKSTP’s ProShop, set to open by Q3 2024, will provide end-to-end services at Tseung Kwan O InnoPark, facilitating small-scale, high-value production and streamlining the R&D to manufacturing processes.

Microelectronics and life sciences are key sectors in Hong Kong’s I&T development. HKSTP’s Microelectronics Centre (MEC) at Yuen Long InnoPark, in collaboration with the upcoming “Hong Kong Microelectronics Research and Development Institute,” aims to expedite the commercialization of innovative solutions. With over 250 biotech companies, HKSTP’s Institute for Translational Research (ITR) supports the commercialization of R&D outcomes, driving societal benefits.

The establishment of Life and Health Technology Research Institutes, along with Health@InnoHK, under the HKSAR Government’s InnoHK initiative, is poised to further strengthen Hong Kong’s role as a premier international R&D collaboration hub.

The government’s commitment to a Green Future aligns with HKSTP’s efforts to advance sustainability in Hong Kong. With over 100 green tech ventures, HKSTP promotes sustainability through events like Hong Kong Green Week and the Greentech Summit, while participation in global events like the UN Climate Change Conference COP28 showcases Hong Kong’s aspirations as a key green tech and finance hub.

The Budget’s mention of HKSTP’s forthcoming Co-acceleration Programme underscores efforts to provide value-added support services to I&T startups, aiming to foster global success. With the HKSTP Corporate Venture Fund already endowed with HK$1 billion, the fund has invested in 31 tech ventures, with every HK$1 invested attracting an external investment of HK$19, bolstering local I&T startups across all funding stages.

As HKSTP finishes Stage 2 of the Science Park Expansion Programme in Q1 2025, primarily adding wet laboratories, it reaffirms its commitment to Hong Kong’s I&T growth. HKSTP continues to expand the ecosystem, nurture talent, support R&D commercialization, attract investments, and stimulate market expansion, propelling Hong Kong towards becoming a top global I&T hub.

In the ever-evolving landscape of technology, two innovations, Virtual Reality (VR) and Augmented Reality (AR), have emerged as transformative tools shaping our digital experiences. Originating from visionary concepts to revolutionise human-computer interaction, these technologies have since evolved into powerful platforms with diverse real-world applications.

AR and VR technologies are poised to become integral components of our increasingly interconnected digital world, with the concept of the metaverse gaining prominence in recent times. In the Asia Pacific region, the market for AR/VR headsets is forecasted to expand significantly in the next five years, driven by a multitude of use cases.

Ng Kaijie, Director of Innovation at Singapore’s Infocomm Media Development Authority (IMDA), highlights key factors accelerating the growth of AR/VR, including the advent of 5G technology. The introduction of 5G enables greater bandwidth and lower latencies, laying the groundwork for more immersive AR/VR experiences and quicker feedback loops.

As early as 2017, immersive media was identified by the Infocomm Media Development Authority (IMDA) Singapore, as one of four key frontier technology focus areas (the other three are artificial intelligence and data science; cybersecurity; and Internet of Things and future communications infrastructure) for the development of digital economy.

While both AR and VR immerse users in digital experiences, they differ in their approaches. VR transports users to entirely virtual environments, enveloping them in immersive simulations, whereas AR overlays digital content onto the real world, enhancing users’ perception of their surroundings. This distinction enables VR to excel in gaming and simulation, while AR finds utility in education, navigation, and enhancing real-world interactions.

The real-world impact of VR and AR extends across various industries. VR has revolutionised gaming, healthcare, training and education, enabling immersive experiences and enhanced learning opportunities. AR, on the other hand, has transformed museums, tourism, and education, enriching cultural experiences and facilitating interactive learning.

Tan Tock Seng Hospital has launched MyCareVR, a virtual reality training platform designed to revolutionise medical staff education. Developed by the Center for Healthcare Innovation, this tool offers immersive learning experiences, initially focusing on 6S precision management training to optimise workflows and enhance patient care.

With MyCareVR, medical professionals can practice procedures in virtual environments, eliminating the need for traditional classroom setups and logistical challenges. The platform’s versatility extends beyond clinics, with plans to expand into scenarios like intensive care units and pharmacies, promising a comprehensive approach to medical training and skill development.

Airlines too have introduced VR-based training modules for flight students. The immersive VR experience helps students grasp airspace structures and landmark recognition, resulting in a performance improvement in real flight missions while reducing stress levels. This success highlights the potential of VR in pilot training, paving the way for future applications in flight, simulator, safety, and service training.

Immersive technologies are expected to be used across various industries, such as retail, architecture, construction, education, healthcare, and defence to improve processes, reduce costs and enhance outcomes.

As VR and AR technologies continue to advance, the future holds boundless possibilities. Innovations such as AR laptops and virtual keyboards demonstrate the evolving integration of these technologies into everyday life. With ongoing developments and investments from tech giants, VR and AR are poised to become integral components of our digital ecosystem, shaping the way we work, learn, and interact in the years to come.

Such cutting-edge developments represent not just technological innovations but gateways to new realities. As these technologies continue to evolve, their impact on society will be profound, ushering in an era of unprecedented digital experiences and opportunities for innovation.

The recent announcement by Invest Hong Kong (InvestHK) regarding the establishment of an international headquarters, research and development (R&D) centre, and corporate treasury centre in Hong Kong marks a significant milestone in the city’s journey toward becoming a global tech hub. This decision underscores Hong Kong’s appeal as a preferred destination for advanced technology companies seeking to expand their global footprint and capitalise on the city’s strategic advantages and vibrant business ecosystem.

Image credits: InvestHK

The company, which specialises in autonomous driving technology, recognises Hong Kong’s strategic location, robust business environment, and strong global connectivity as key factors driving its decision to establish its international presence in the city. With a solid foundation established in Hong Kong, the company aims to leverage the city’s central location and dynamic ecosystem to propel its growth trajectory on the global stage.

Ms Alpha Lau, Director-General of Investment Promotion at InvestHK, praised the success of the company and highlighted Hong Kong’s role as an ideal platform for advanced technology firms to build their international presence and secure funding for sustained growth. The decision to establish key operations in Hong Kong reflects the city’s status as a leading global financial centre and technology hub, offering companies access to capital, talent, and markets.

The company’s journey in Hong Kong began in 2018, and since then, it has made significant strides in the autonomous driving sector, particularly with its groundbreaking projects in the region. By collaborating with local partners and leveraging Hong Kong’s strengths, the company has successfully implemented driverless solutions in various industries, including transportation, logistics, and aviation.

One of the company’s flagship projects involves the deployment of driverless vehicles at Hong Kong International Airport (HKIA). Since securing a contract with HKIA in 2019, the company has deployed more than 50 driverless vehicles at the airport, including autonomous baggage tractors, patrol cars, and shuttle buses. These solutions have not only improved operational efficiency at the airport but also addressed challenges such as labour shortages and cost concerns.

The Co-Founder, Chairman, and CEO of the company, emphasised Hong Kong’s strategic significance for the company’s global expansion plans. He highlighted the city’s strategic location, robust business network, and connectivity as key factors driving the decision to establish key operations in Hong Kong. With a proven track record of success in the region, the company is now poised to expand its presence to other regions, including Singapore, the Middle East, and Europe.

The company’s expansion strategy aligns with its vision of combining global expertise with local insights to develop innovative solutions that address the needs of diverse markets. By leveraging Hong Kong’s strengths as a global financial centre and technology hub, the company aims to accelerate its growth and explore new market opportunities.

InvestHK and the Office for Attracting Strategic Enterprises are actively supporting the company in establishing its first overseas R&D centre in Hong Kong. This collaboration reflects the city’s commitment to fostering innovation and attracting leading technology companies to its shores. By facilitating the company’s expansion and introducing new business opportunities, Hong Kong aims to strengthen its position as a premier destination for tech innovation and investment.

The decision to establish key operations in Hong Kong underscores the city’s growing appeal as a global tech hub. With its strategic location, vibrant business ecosystem, and strong government support, Hong Kong offers an ideal platform for technology companies to drive innovation, expand their global footprint, and contribute to the city’s thriving tech ecosystem. Through strategic partnerships and collaboration, Hong Kong is well-positioned to capitalise on the opportunities presented by the rapidly evolving technology landscape and emerge as a leading hub for tech innovation in the Asia-Pacific region.

In a resounding affirmation of India’s technological prowess, Union Minister Dr Jitendra Singh recently outlined the pivotal roles of Bio-Economy and Space Economy in shaping the nation’s future trajectory.

Image credits: Press Information Bureau

Against the backdrop of India’s remarkable economic growth, currently the highest in the world at over 6%, Dr Jitendra Singh heralded the burgeoning sectors of Bio-Economy and Space Economy as the vanguards of India’s continued prosperity.

With the unveiling of the GenomeIndia Flagship Programme, which aims to conduct 10,000 genome sequencings, Dr Jitendra Singh marked this initiative as a watershed moment for India. He emphasised that such endeavours would not only pave the way for genetic-based remedies but also catalyse significant advancements in the country’s public healthcare system. Genome sequencing, he contended, holds the potential to redefine healthcare strategies globally, both therapeutically and prophylactically.

Drawing attention to India’s remarkable strides in the realm of Bio-Economy, Dr Jitendra Singh noted that the sector has witnessed unprecedented growth. Over the past decade, India’s bio-economy has surged a remarkable 13-fold, catapulting from US$10 billion in 2014 to over US$130 billion in 2024. The Biotechnology Sector, he added, has experienced rapid expansion, propelling India into the ranks of the top 12 bio-manufacturers worldwide.

Dr Jitendra Singh underscored the need for indigenous solutions to indigenous problems, emphasising India’s emergence as a frontline nation among scientifically advanced countries. He cited successful initiatives like Mission COVID Suraksha and the Indian Biological Data Centre, which have made significant contributions to India’s bio-economy.

In a significant move towards sustainable growth, Dr Jitendra Singh highlighted the introduction of new schemes, such as Bio-manufacturing and bio-foundry, aimed at promoting green growth. These initiatives, he explained, would foster the development of environmentally friendly alternatives like biodegradable polymers, bio-plastics, and bio-pharmaceuticals, thereby transforming India’s manufacturing paradigm towards regenerative principles.

Shifting focus to India’s Space Economy, Dr Jitendra Singh emphasised its vast potential for expansion. Currently estimated at US$8.4 billion, constituting 2-3% of the global space economy, India’s space sector is poised for exponential growth. With the implementation of the Indian Space Policy 2023, Dr Jitendra Singh projected that India’s space economy could reach US$44 billion by 2033, opening up new vistas of opportunity and innovation.

Returning to the GenomeIndia Project, Dr Jitendra Singh reiterated its significance in the context of India’s healthcare landscape. By cataloguing genetic variations across diverse Indian populations, this initiative aims to create a comprehensive database essential for developing personalised healthcare solutions tailored to India’s unique genetic makeup.

Dr Jitendra Singh hailed the GenomeIndia Project as a testament to India’s commitment to scientific advancement and collaborative research. With its ambitious scope and far-reaching implications, this initiative epitomises India’s journey towards technological renaissance and global leadership in the fields of bio-economy, space economy, and beyond.

India is enthusiastically embracing cutting-edge technology to advance across all sectors, including healthcare and space exploration, aiming for comprehensive development and innovation.

At the “International Patient Safety Conference 2024” in Bengaluru, Union Minister Dr Singh emphasised the transformative potential of AI in clinical medicine, stressing the urgent need for integrating traditional and modern healthcare methods.

Highlighting the COVID-19 pandemic’s role in showcasing the value of India’s traditional medicinal practices, he underscored the importance of merging allopathic medicine with complementary approaches like AYUSH for holistic health.

With India’s growing focus on digital health initiatives, Dr Singh advocated for optimising the integration of AI into healthcare systems across public and private sectors to enhance patient care and achieve optimal outcomes.

In a transformative stride towards fortifying India’s burgeoning startup ecosystem, Union Minister of State for Electronics and IT, Skill Development and Entrepreneurship, and Jal Shakti, Shri Rajeev Chandrasekhar, inaugurated the groundbreaking ‘Investor Information and Analytics Platform’ crafted by the prestigious Indian Institute of Technology Madras (IIT Madras).
Image Credit: Twitter(@pibchennai)

This pioneering platform serves as a comprehensive resource hub for startups, offering seamless access to vital networks of Venture Capitalists (VCs), investors, government schemes, and various other facets of the startup landscape.

Developed by researchers at the Centre for Research on Start-ups and Risk Financing (CREST) of IIT Madras, this platform is poised to greatly benefit startup founders, entrepreneurs, and aspiring innovators across India. Through its integration of information from diverse sources, the platform acts as a centralised repository, enabling entrepreneurs to explore government agencies, incubators, investors, VCs, and banks that actively support startups.

Minister Rajeev Chandrasekhar lauded the initiative, emphasising its pivotal role in shedding light on the expansive and diverse startup innovation ecosystem. He underscored the platform’s value as a resource for researchers seeking to delve into the dynamics of the ecosystem, potentially informing policymakers in crafting responsive initiatives. Highlighting the ongoing surge in innovation, the Minister emphasised the need for a holistic understanding to drive further growth, particularly in emerging sectors such as semiconductors, microelectronics, AI, and HPC.

A notable feature of this innovative platform is “StartupGPT,” an AI-driven conversational interface designed to streamline information access for users navigating extensive datasets. Through natural language queries, users can access real-time information effortlessly, enhancing their engagement with the platform. To ensure widespread accessibility, full access to the platform will be available at a nominal cost, maximising its utility for aspiring entrepreneurs.

With a wealth of data encompassing over 200,000 startups, 11,000 angel investors, 5,000 VCs, 1,000 incubators, and numerous government agencies and banks supporting startups, the platform serves as a comprehensive repository of information vital for the startup ecosystem. Leveraging a technical partnership with YNOS Venture Engine, an IIT Madras incubatee startup, the platform remains updated and accessible round the clock, catering to the needs of users.

Underlining the platform’s significance in catalysing innovation and fostering entrepreneurship, Prof. Thillai Rajan A, Head of CREST at IIT Madras, emphasised its role in democratising access to information and capital. By facilitating the convergence of innovators, mentors, founders, investors, and funding agencies, the platform contributes to India’s journey towards becoming an innovation-driven economy, empowering thousands of young entrepreneurs to realise their aspirations.

Prof. Thillai Rajan A also highlighted the platform’s genesis as a testament to India’s prowess in frugal innovation, enabled by the support of institutions like IIT Madras and the Government of India. Through collaborative efforts and leveraging research expertise, the platform exemplifies the potential of academic institutions to drive meaningful contributions towards national development goals.

The launch of the ‘Investor Information and Analytics Platform’ represents a landmark achievement in India’s quest to nurture a vibrant and resilient startup ecosystem. With its user-friendly interface, extensive database, and AI-driven capabilities, the platform promises to revolutionise the way startups access vital resources and networks, paving the way for accelerated growth, innovation, and entrepreneurship in the country.

OpenGov Asia reported that the Indian Institute of Technology Kanpur is set to establish a Centre of Excellence (CoE) for electronics manufacturing and skills development. This initiative aims to bridge the gap between industry and academia, offering advanced learning opportunities and fostering research and development collaboration. With cutting-edge technology such as a fully automated Surface Mount Technology (SMT) Line, the CoE seeks to advance innovation and skill enhancement in electronics manufacturing.  IIT-Kanpur Director, S. Ganesh, emphasized the centre’s pivotal role in fostering collaborations and driving socio-economic development through research and industry collaboration.

The Chinese University of Hong Kong (CUHK) announced the establishment of the Global Sports and Wellness Innovation Centre (GSWIC), marking a stride in the convergence of technology and sports. Founded in collaboration with the CUHK Centre for Clinical Research and Biostatistics and four industry partners, GSWIC aims to revolutionise the sports industry through innovative research and development initiatives.

At the heart of GSWIC’s mission lies the adaptation of CUHK’s pioneering AI-based Automatic Retinal Image Analysis (ARIA) technology into the realm of sports. Initially devised for assessing disease risks such as cardiovascular ailments, diabetes, and cognitive impairments, ARIA now finds a novel application in enhancing sports technology. Spearheaded by the CUHK Centre for Clinical Research and Biostatistics and HVB, technical research and patent provision form the cornerstone of GSWIC’s technological advancements.

Collaborating with the first partner, GSWIC seeks to harness the global SportsTech industry platform to propel the development and marketisation of its products. ABSG’s expertise in the sports technology landscape promises to imbue GSWIC’s offerings with unparalleled market appeal and global reach.

In the journey towards productisation, the second industry partner has stepped in to provide comprehensive research, development, and manufacturing services. By furnishing GSWIC with cutting-edge instruments for capturing retinal images, the company will accelerate the transformation of technology into tangible products. Concurrently, the third innovation partner will ensure financial sustainability through capital market financing, enabling GSWIC to realise its ambitious project objectives.

The application of ARIA technology in sports technology heralds a new era of performance evaluation and talent identification in athletes, both amateur and professional. Through machine learning analysis of retinal images, GSWIC aims to decipher sports-specific characteristics and predict athletic prowess across diverse disciplines. From cognitive function to physical attributes like strength, agility, and reaction time, ARIA’s multifaceted analysis promises to revolutionise talent scouting and performance optimisation in sports.

Furthermore, ARIA technology holds immense potential in the early detection and monitoring of sports-related injuries, particularly concussions in contact sports like American football and rugby. By facilitating early intervention and tailored rehabilitation strategies, GSWIC endeavours to safeguard athletes’ well-being and longevity in their respective sporting endeavours.

The Director of CUHK Centre for Clinical Research and Biostatistics envisions GSWIC as a catalyst for driving innovation and excellence in the sports industry. By fostering synergies between academia, industry, and research, GSWIC not only identifies elite talents but also fosters a culture of holistic wellness within the community.

The Founder/CEO of the first industry partner highlighted the organisation’s commitment to leveraging its global platform and CUHK’s resources to pioneer groundbreaking solutions for the sports industry. Through strategic partnerships and relentless innovation, the company endeavours to redefine the sports technology landscape across Hong Kong, mainland China, and beyond.

The Deputy General Manager of the second company reaffirmed the company’s unwavering support for GSWIC’s journey from research outcomes to commercialisation. Leveraging its extensive product development resources, the company aims to expedite GSWIC’s market penetration and investment acquisition with the backing of another partner’s expansive customer network.

The Chairman of the third partner sees GSWIC as a beacon of technological prowess and innovation in the sports arena. By amalgamating CUHK’s ARIA technology with the company’s global sports technology platform, GSWIC promises to deliver unparalleled returns for its stakeholders and shareholders alike.

Overall, GSWIC’s emergence highlights the seamless integration of technology and sports, heralding a new era of performance enhancement, talent identification, and injury prevention in the global sports landscape. Through collaborative endeavours and unwavering dedication, GSWIC aspires to redefine the boundaries of sports technology, driving positive outcomes for athletes, stakeholders, and enthusiasts worldwide.

OpenGov TV Speaker Panel – Know Your Customers

Part 3 of our OpenGov TV Speaker Panel series with OneConnect. Listen to experts talk about the importance of KYC (Knowing Your Customers)!


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