Enterprise Singapore kicked-off its inaugural run of the Scale-up SG programme today with 25 local companies. Scale-up SG is a 2.5-year programme that will help aspiring, high-growth local companies scale rapidly. We aim to groom future global champions in their respective fields who can contribute significantly to Singapore’s economy and create good jobs for Singaporeans.
Mr Peter Ong, Chairman of Enterprise Singapore, said, “Scale-up SG is a specially curated programme which aims to groom our high-growth local enterprises into global champions. The companies, while vastly diverse in terms of revenue size, sectors, business models, exhibit the common trait of hunger and the strong ambition to grow. Leaders learn best from leaders; the diversity of the companies will enrich peer learning, spurring each of them towards even greater growth.”
The participating companies, which displayed a good track record of growth and leadership team with strong growth ambitions, are of varying revenue sizes and come from various industry clusters like lifestyle and consumer; trade and connectivity; manufacturing and engineering; and urban solutions.
Enterprise Singapore will run the programme in collaboration with public and private sector partners, including government agencies, management consulting firms, professional services firms, institutes of higher learning , research institutes and private equity funds, among others.
The Scale-up SG companies can benefit from: Peer learning and collaboration between a close-knit community of CEOs and founders. Some may even partner up to grow their business, and serve as mentors to future cohorts of participating companies and development of leadership team and succession planning through strengthening the competencies of the next generation of leaders; and also access to expertise and networks of Enterprise Singapore and our programme partners, to support their growth objectives.
Participating companies will go through the programme in cohorts, each comprising 10 to 15 companies. The programme will be conducted in phases and include activities such as executive business programme with leading IHLs, peer networking, and industry sharing sessions.
The Institute for Digital Molecular Analytics and Science (IDMxS), which aims to promote the science of analysing biological molecules (biomolecules) using information technology and data science, was recently established by Nanyang Technological University, Singapore (NTU Singapore). This could pave the way for real-time environmental or health data monitoring and analysis, like how real-time traffic data can be obtained on mobile devices.
IDMxS, NTU’s newest national Research Centre of Excellence (RCE), is funded with a total investment of over S$160 million over 10 years, with the majority coming from NTU and the National University of Singapore and S$94 million coming from the Singapore Ministry of Education.
Digital molecular analytics, a novel scientific discipline that analyses individual molecules to discover, identify, and measure biomolecules with extraordinary accuracy, is at the core of the work done at IDMxS.
Such a science will open many new areas of research, such as the creation of diagnostic testing capabilities that may then inspire the creation of new technologies and commercial spinoffs, including blood testing kits that can generate findings instantly using nothing more than a smartphone camera.
The interdisciplinary centre is anticipated to house 100 full-time researchers and employees with backgrounds ranging throughout the spectrum of engineering and science, from optics, computer science, and artificial intelligence (AI) to biology, medical technology, and chemistry.
Postgraduate students from NTU will have exceptional chances for interdisciplinary education and training that spans the molecular sciences and information technology through the graduate programme of IDMxS. More than 30 PhD students will receive support from the Centre, four of whom have already begun their studies. As clinical diagnostics become more digital, IDMxS will also create continuing education programmes aimed at developing and modernising the healthcare workforce.
By fusing the fields of biology and information technology – which have each recently undergone revolutionary changes – IDMxS will create the new science of digital molecular analytics. The objective is to develop tools that can track environmental data, such as air and water quality, and health information, like viral infections or molecular signatures that signal the existence of a disease, in real-time. To develop innovative solutions for issues with health, sickness, and environmental monitoring, this process begins with the development of fundamental science.
The ability to simultaneously gather a variety of data types from a biological sample and use tools like AI and machine learning algorithms to analyse and interpret the enormous volume of data that would otherwise be impossible for humans to make sense of is at the core of IDMxS’ digital molecular analytical strategies. The research centre intends to someday spin out solutions like widely used software using digital molecular analytics.
Moreover, making blood sample test kits is one potential use for digital molecular analytics that IDMxS is investigating. The goal of this research is to create a tool that can recognise the various chemicals responsible for illnesses, infections, and diseases.
This suggests that a physician might someday be able to take a blood sample, analyse it with a smartphone camera, and obtain an accurate, real-time reading next to the patient at the doctor’s table. A similar idea might do away with the necessity for additional time-consuming laboratory tests.
The extensive surveillance of illnesses spread by insects like dengue and malaria is another project that is now under development. Researchers can one day create an imaging system that can swiftly detect and monitor dengue among the mosquito population by recognising and analysing the chemicals that make up the dengue virus. Such studies might also be used to track other airborne infections and infectious diseases, in addition to insect-borne diseases that affect urban health.
The Infocomm Media Development Authority (IMDA) announced the launch of a S$5 million Virtual Production Innovation Fund to support the local media industry in developing the capabilities needed to harness virtual production technology to maintain the local media industry’s competitiveness as the international partner of choice to create premium IP.
To enable the camera to capture actors and visual effects in real time, virtual production technology uses LED panels to produce realistic background landscapes for television or movie sequences driven by video game engines. The site, road closures, location costs, permits, weather, set construction, and space rental will no longer be necessary for production.
With the help of technology, Singapore has a rare chance to get over some of its physical constraints, like the lack of suitable locations for on-location filming and room for large sets.
The ability of the storytellers to reproduce historical sites or any other environment will allow them to generate content that was previously impossible. This will revolutionise the creative process of storytelling.
The adoption of virtual production by the media sector is further encouraged by the strong signals emanating from international media giants that this technology will be widely employed in the creation of movies and television shows and will become the standard in the next years.
To strengthen capabilities in virtual production and ensure that the media companies and talent can keep up with international production methods to remain competitive, IMDA will pursue a two-pronged strategy to prepare the media sector for the future.
The National Film and Television School (NFTS) in the UK has collaborated with IMDA to adapt the school’s Certificate in Virtual Production course to the requirements of the sector to train media professionals to use this technology.
From December 2022 to April 2023, fifteen professors, trainers, and media professionals from Singapore will participate in virtual lectures and undergo hands-on training at NFTS’s virtual production facilities.
Over the course of the following 12 months, several masterclasses and workshops given by professionals from the business will be offered. A Singapore-based firm that specialises in developing immersive experiences, held a display to exhibit how virtual production can enhance imaginative storytelling.
Hands-on demonstrations will be given by guest speakers from virtual production leaders. They will discuss and explore best practices in the workflow to inventive ways to use different technology in storytelling.
Local businesses can also test out virtual production to realise their creative ideas for brief pieces of content, such as music videos, short films, and brand advertisements, among others. Companies can submit their suggested content concepts from now until February 15, 2023.
The capacity to best utilise virtual production technologies to realise a project’s creative vision will be taken into consideration while evaluating proposals.
Additionally, IMDA is working to organise an industry challenge with an internationally renowned gaming company. This challenge will encourage organisations to experiment with and use the cutting-edge real-time 3D creation tool developed by this gaming company. Currently, the aforementioned tool powers globally popular video games.
Teams whose concepts are shortlisted will receive personalised coaching and training from the gaming company. In addition, they will receive prize money from IMDA to assist with content creation.
Since virtual production technology has advanced in recent years, the country is now able to produce visual effects in real-time without building actual sets, thereby overcoming the constraints of scale, complexity, and space.
The Singapore Tourism Board (STB) and Singapore Association of Convention & Exhibition Organisers & Suppliers (SACEOS) released the MICE Sustainability Roadmap, which outlines specific goals and plans for raising sustainability standards throughout the MICE sector in Singapore over the coming years.
The Meetings, Incentives, Conventions, and Exhibitions (MICE) industry is a type of tourism travel in which groups of people are brought together for a specific reason, usually well in advance. On the other hand, the MICE market refers to a subset of people who plan, arrange, and facilitate conferences, seminars, exhibitions, and other events.
Part of STB’s overarching plan to develop a sustainable tourism sector is the use of such roadmaps, which direct businesses in the sector to achieve specific sustainability goals. Following the launch of the Hotel Sustainability Roadmap earlier this year, the MICE Sustainability Roadmap is the second such project.
The Singapore Green Plan 2030 and the Sustainable Development Goals of the United Nations (UN) serve as the roadmap’s guiding principles. Three goals are listed in the MICE Sustainability Roadmap to help Singapore become one of the most environmentally-friendly MICE destinations in Asia Pacific:
- By 2023, create a set of industry-acceptable sustainability standards with the goal of having them recognised internationally by 2024.
- For all six purpose-built MICE venues and 80% of SACEOS members to get internationally or nationally recognised sustainability certification, or both, by 2025.
- To attain net-zero emissions by 2050 in accordance with the country’s net-zero aim, the Singapore MICE sector must first track waste and carbon emissions by 2023, reduce waste in line with the Singapore Green Plan by 2030, and reduce waste overall by 2050.
The MICE Sustainability Committee (MSComm), established by STB and SACEOS in August 2022 to advance sustainability capabilities and create awareness of sustainability initiatives and best practices, will help the industry adopt sustainable practices and meet these goals.
The dedication to sustainability follows a robust MICE rebound in the wake of Singapore’s borders being reopened in April this year and a rising desire for environmentally friendly business travel. More importantly, the industry is aware of how crucial it is to lessen the environmental impact of MICE events.
With STB and SACEOS leading the charge and offering support as necessary to further develop a sustainable business events landscape in Singapore, the MICE Sustainability Roadmap will ensure that MICE players move forward in pursuing relevant and achievable sustainability goals that are tracked at appropriate milestones.
Meanwhile, OpenGov Asia recently reported that the Infocomm Media Development Authority (IMDA) of Singapore is working with a large American technology company to address climate change-related challenges and enhance the sustainability of digital technologies.
The cooperation aims to hasten the local and international development of software applications and solutions to assist businesses in using their resources more efficiently.
The tech giant and IMDA will exchange best practices, standards, learnings, and certification pathways for accurate measurement and reporting of carbon emissions resulting from software applications. Through this relationship, the nation hopes to speed up the application of the ideas and resources needed to create green technologies.
According to IMDA, Southeast Asia is well-positioned for the region to take the lead in digital sustainability. This collaboration will produce cutting-edge digital sustainability solutions that can be used by multinational corporations, bringing about positive change for the environment worldwide and ensuring a sustainable future for all.
The Singapore University of Technology and Design (SUTD) and Tecnológico de Monterrey (Tec) through its Institute for the Future of Education, signed a research collaboration agreement to improve the cyber-physical learning of students and teachers in Singapore and Mexico.
The three-year agreement will see the two parties share practices and experiences in the configuration and usage of cyber-physical learning infrastructure to create new opportunities for educational innovation and research, resulting in new pathways for the future of education.
The SUTD-Tec’s Institute for the Future of Education agreement will foster the exchange and sharing of practices of cyber-physical learning and evaluation of the effectiveness of associated educational delivery models. Both parties will conduct joint experiments involving students and instructors to explore domains such as technology-enabled learning, translational pedagogical innovations, learning analytics, and personalised and engaging learning.
This research collaboration will have its focus on the SUTD campusX initiative, which focuses on the needs and experiences of students and instructors using data analytics and learning sciences with the purpose of creating a safe, inclusive, and enjoyable space for students to learn, interact and optimise their learning outcomes.
With regards to the campusX and its impact on the future of education, SUTD’s Provost stated that both Tec and SUTD share a common vision of cyber-physical learning, with similar interests and understanding of the challenges in areas of applying human-centric technology and design to the practice of pedagogy and andragogy in actual higher learning environments. This forms a strong basis on which many more projects can be conducted between Tec and SUTD. The current research collaboration is an important start and SUTD looks forward to furthering the partnership with Tec in years to come.
He noted that, similarly, SUTD also looks forward to working with more like-minded partners across academia and industry and from local and global landscapes to make cyber-physical learning a reality.
Speaking about the research collaboration between the two renowned higher education institutions, the Rector for Higher Education of Tecnológico de Monterrey expressed his satisfaction with the signing of the agreement and said that to advance in current-day education challenges and design the future of education, collaboration is key.
He noted that Tec has pioneered educational innovation in Mexico and Latin America, and they aim to expand their projects and initiatives to have an increasingly global relationship and impact. An initiative aimed at strengthening links with Asia is being developed; these collaborations with them will extend to the areas of research, education, and technology.
Furthermore, the Executive Director of the Institute for the Future of Education of Tecnológico de Monterrey emphasised the importance of this kind of agreement between both universities. He noted that conducting joint experiments to evaluate innovative cross-border educational models will be key to developing effective cyber-physical learning environments.
The collaborative project with SUTD’s campusX initiative will increase learning opportunities for global higher education audiences, capitalising on the intercultural exchanges between Singaporean and Mexican students and professors, and developing best practices with an international perspective, he added.
The research activities framed in this agreement are slated to begin in the first quarter of 2023 and the experimental and simulated learning environment trials will result in the identification of best practices in digital education delivery models supported by effective cyber-physical technology platforms.
The National Development Council (NDC) Deputy Minister, Kao Shien-quey, discussed the idea of tightening cooperation with the Europe Union (EU) when attending the presentation meeting of the European Chamber of Commerce Taiwan (ECCT) 2023 Position Papers.
According to Kao, the government is actively promoting the “Six Core Strategic Industries” as part of the 5+2 Industrial Innovation Plan. It has designated several vital industries to take precedence in the programme, including semiconductors, finance, manufacturing, and service, among others.
The Executive Yuan has proposed an amendment to Article 10-2 of the Industrial Innovation Statute requiring the semiconductor industry to consolidate its competitive advantage. Moreover, the Taiwan government will use cutting-edge technology such as artificial intelligence (AI) and 5G to drive digital transformation in finance, traditional manufacturing, service, and other industries.
Each ministry actively promotes issues such as talent recruitment, bilingual policy, and other ECCT-related concerns. For example, the NDC has established the Employment “Gold Card Office” to increase the quality of professional talent recruitment. The certificate provides integrated services from work to life to international talent. Currently, nearly 6,200 Employment Gold Cards are valid.
Furthermore, Taiwan is focusing on intensifying its work on energy transformation. Kao stated that, in the face of the new post-pandemic global situation, the government is actively promoting the dual shifts of “net-zero” and “digital,” as well as building resilient global supply chains with the EU and other allies.
The government’s most crucial task in net zero is energy transformation. Accordingly, Taiwan officially announced “Taiwan’s Pathway to Net-Zero Emissions in 2050” in March this year. The initiative sets stage milestones and will present the concrete execution plan of the 12 Key Strategies, which cover issues of concern to ECCT. Some critical problems are wind power, photovoltaic power, and other renewable energy, as well as energy storage, power systems, and vehicle electrification, by the end of the year.
Kao stated that the government has allocated a net-zero related budget of NT$ 68.2 billion (US$ 2.2 billion) for next year and the 10-year “Construction Plan for Strengthening Grid Resilience.” She thanked European firms for their involvement in renewable energy in Taiwan. She urged them to continue participating in Taiwan’s energy-related construction to capitalise on Taiwan’s green transformation business opportunities.
Regarding supply chain resilience, Kao echoed the ECCT’s Position Papers, stating that many countries are restructuring supply chains. The restructuring happens in response to the current situation’s challenges, and Taiwan has advantages in semiconductors and International Trade Commission (ITC). Moreover, she shared the ideas of democracy and the rule of law with the EU, making Taiwan and the EU each other’s most trustworthy partners in supply chain restructuring.
Taiwan and Europe have enormous potential for future collaboration in new strategic industries. The best example is ASML’s announcement that it will make its most significant investment in Taiwan next year to collaborate on building a more secure and resilient global supply chain.
Kao also thanked the ECCT for its long-term efforts to promote bilateral relations. She said that Taiwan values the European Parliament’s support during this period of increased geopolitical risk. Kao thanked ECCT for its long-term involvement in Taiwan and expressed hope that ECCT can continue to support Taiwan and seize opportunities for transformation together in the new post-pandemic world.
Previously, President Tsai announced the plan to strengthen ties with Europe in her New Year’s Day speech this year. The administration has proposed a US$ 1.2 billion Eastern Europe Investment and Finance Fund. The budget indicates that Taiwan-Europe trade and economic relations are approaching a new high point.
AI and other digital technologies could help solve some of the world’s most important social problems, like climate change, biodiversity loss, food insecurity and risks to public health, among others. Harnessing digital capabilities to promote a transformative system could be a game-changer for a sustainable and equitable global future.
Today’s consumers expect more than great products and services, and businesses are well aware of this. Clients want to feel like they are investing in a reputable, responsible brand. Consequently, the most market-dominant businesses are not merely profitable and have good products but those that have multiple alternate bottom lines – social, environmental and sustainable.
More than 90% of business executives agree that sustainability is crucial to their success. As consumer groups continue to publish reports on the increased desire for more environmentally friendly corporate practices, it is simple to see why green marketing strategies are gaining such importance.
The environment and sustainability are vital components in the strategy and operations of enterprises looking to be more conscientious. Organisations have been taking proactive steps to develop a greener future with their consumers, partners, stakeholders and workers. These efforts include environmental initiatives, community outreach efforts and business practices.
Advancing Environmental Sustainability and Resilience
“Everyone is becoming aware of the necessity for action to attain sustainability,” says Vivek. “There is a growing interest in corporate sustainability and how corporations can strive for it to meet the needs of stakeholders for social, economic, and environmental implications.”
Most businesses are considering ways to contribute significantly, which will need robust investment and efforts. “We see businesses quickening their momentum and considering effective climate innovations. A case in point is how electric mobility companies can be affected by the huge reductions in costs for climate technology.”
Vivek believes it is possible to adapt a company’s digital strategy to mitigate and deal with extreme climate change. Companies must include digitalisation and decarbonisation in their strategy, as industry 4.0 technologies will play a crucial role in meeting the emissions reduction goal.
Digital technologies can increase energy efficiency and decrease fuel consumption across multiple industries and sectors. Digitalisation has the potential to revolutionise the way people and technology interact by helping to analyse and calibrate necessary interventions.
By utilising digitalisation, businesses can identify the emissions sources, whether at the product level, manufacturing unit level, or equipment level. They can then determine the necessary interventions to reduce emissions, such as a change in the manufacturing or personnel settings, and then monitor whether the identified interventions are being implemented.
“Here is where I believe digitalisation and decarbonisation must go hand-in-hand, as this will ensure that industries undergo structural changes and reach their objective,” says Vivek.
Businesses need to be more conscious of the need to be prepared for the energy shift, and he has five relevant steps for how businesses should approach this:
- Develop an understanding of how energy shifts will affect your company;
- Think about a bold and ambitious target, such as considering how big of a carbon footprint reduction they intend to achieve with this energy transition;
- Consider various situations and their effects;
- Create a comprehensive plan that will serve as an overall strategy with well-defined and cascading targets;
- Think about implementation, where companies strike a balance between all the goals, e.g., carbon footprint and profitability
Right now, society is more conscious of sustainability and is calling for companies to shift their carbon footprint and be more conscious about emissions. This is causing profound changes in the corporate and government landscape.
Organisations can work toward more sustainable practices with the aid of corporate sustainability’s economic, social and environmental pillars. Businesses must alter their mindset from just profitability at the expense of the environment to a sustainable and profitable paradigm. There must be interdependence and a greater emphasis on operations and eco-innovation.
Adopting sustainable practices benefits the environment, but businesses have also demonstrated that these programmes can boost productivity, lower costs, make shareholders happy, and a host of other advantages.
“Corporate entities must take the initiative in determining pertinent technologies. Companies must implement technologies to decrease their carbon footprint. They are the ones that will bring about change. Governments can decide the legislation, but unless companies change, it will be difficult to achieve net zero,” Vivek firmly believes.
A green economy is the practice of sustainable development supported by public and private investment in creating an infrastructure that promotes social and environmental sustainability. A green economy refers to an economy in which individuals are increasingly aware of their carbon emissions and are taking steps to reduce them.
A carbon footprint is the total amount of greenhouse gases, including carbon dioxide and methane, that corporations and individuals generate.
There are numerous practical and effective approaches to implementing sustainable technologies at the national level. “I believe that each country will deploy different technologies; the mix of technologies, the adoption rate, and the deployment cost will all be very different. However, each country will need to consider what sustainable technologies are relevant to them, consider implementing them, and consider the reasons for doing so.”
According to Vivek, decarbonisation entails significant economic transformation. When new business opportunities arise in Asia, companies must contemplate how they will be the first to take advantage. To do this, they must seriously consider the technologies and industries they want to innovate in or implement and the various business models they should use to take these opportunities.
There will be an acceleration of the energy transitions if individuals in the nation change their behaviour, the government considers how the empowering regulations should be made, or how businesses decide how they will operate.
Vivek has led several large-scale transformations and new business builds across the region, such as for an energy conglomerate in Indonesia. From this experience, he is convinced that a fundamentally different way of thinking about any business problem is required.
It requires thinking about what the unique value proposition is going to be and thinking about getting new talent to build a business from the ground up. Some of his most memorable moments on this journey include realising the value of having the right talent.
Another thing he learned is that customer preferences change at very different levels. So, thinking about the organisation’s unique value propositions and how customers perceive them becomes very important. For incumbents, choosing different business models can also be essential.
Both private and public organisations are aware that change needs to occur quickly. Resources are becoming harder to come by while demand is rising, necessitating a balance to build a sustainable future. “Green technologies will help the world achieve sustainable levels and make the environment cleaner and safer for everyone.”
Urban Ideas and Solutions Through LKYGBPC
Vivek is on the International Judging Panel (IJP) of the Lee Kuan Yew Global Business Plan Competition (LKYGBPC), a biennial global university start-up challenge held in Singapore.
As a member of the judging panel charged with driving, developing, and upholding the entrepreneurial spirit of the LKYGBPC participants, Vivek is focused on the innovativeness of the solutions, such as how effectively the technology solves the problem.
He also believes that feasibility and how the different technologies are correctly implemented can significantly change the world. “These two parameters will be quite useful in considering how we are selecting, or how I would select various technologies.”
He acknowledges that innovative entrepreneurship talent can be cultivated wider in the broader community through such competitions. These serve as an illustration of how they are fostering innovation and entrepreneurship across society.
The competition is also one example of instilling a culture where the next generation is thinking about how things can be done differently. Competitors explore creative ideas and have a forum where they can share their thoughts, which can be a great example of nurturing innovation.
The competition, which is run by the Institute of Innovation and Entrepreneurship at Singapore Management University (SMU), is centred on urban ideas and solutions developed by student founders and early-stage start-ups. It is positioned as a campus innovation movement that seeks to establish a global startup ecosystem with financial backers, including venture capitalists, corporate oligopolies, and governmental organisations.
“I believe many of our leading schools are doing a great job of instilling a culture where children are thinking about how things can be done differently and what are creative ideas,” Vivek opines.
There are numerous instances throughout the world where the technologies or solutions used by youth or larger communities have truly made a meaningful difference. “But it does take some significant effort to raise awareness and establish a forum where people can discuss their concerns, share their ideas, and obtain the resources needed to solve them,” Vivek concludes.
The Nanyang Technological University, Singapore (NTU Singapore) will be collaborating with a chemical manufacturing corporation in research that will drive new advancements in sustainable lithium battery technologies. The joint project will be led by the Executive Director of the Energy Research Institute at NTU (ERI@N) and Co-Director of NTUSingapore CEA Alliance for Research in Circular Economy (SCARCE), a centre for excellence in innovative solutions for recycling and recovering valuable elements from e-waste.
The Chief Commercial Officer at the chemical manufacturing corporation has played an important role in many breakthroughs in battery research and development. By expanding its R&D partnerships, the company can build on its heritage of innovation and continue to push the boundaries of what is possible and find optimal pathways for progress.
The firm is excited to begin this journey with a pioneering, distinguished scientist like Professor Srinivasan and the entire team at NTU, as new pathways to support advancements in battery technology can be explored.
The Executive Director of the Energy Research Institute at NTU (ERI@N), who will lead the research, is a renowned academic whose research focuses on the circular economy. She worked extensively on research initiatives with battery industry leaders and helps advise on public policies for energy and sustainability in Singapore and around the world. She is also the Executive Director of the Sustainability Office at NTU Singapore, which oversees and integrates sustainability initiatives and innovation across the University and its smart campus.
She noted that NTU Singapore has a strong history of working closely with the industry to commercialise research into tangible and impactful outcomes. The team is excited to collaborate with innovative leaders like the partnering firm, to advance sustainable lithium battery technologies. Their hope is to accelerate a more sustainable approach for lithium-ion batteries used in millions of electric vehicles and portable devices across the world.
The global Lithium-ion Battery Market was US$36.90 billion in 2020. The global market size is projected to reach US$193.13 billion by 2028, exhibiting a CAGR of 23.3% during the forecast period from 2021-2028.
Recent research shows that the continuing demand for power supply for numerous applications, augmented demand for electric vehicles, the surging necessity of battery-operated equipment and machinery in automotive industries, and the usage of lithium-ion batteries in renewable energy applications are sustaining the lithium-ion battery market growth.
As governments across the globe begin imposing guidelines for the monitoring of surging pollution phases. Various industries are being compelled to use lithium-ion batteries. The power industry is working to manufacture renewable energy and stock for future purposes.
In addition, low cost, low-self discharge rate, and negligible installation space are a few of the crucial factors driving the implementation of lithium-ion batteries in smart grid and energy storage systems. Since the product is more resilient to high temperatures, it is perfect for usage in distant areas and thermal control applications. The Asia Pacific region is expected to hold the largest lithium-ion battery market share during the mentioned period.
NTU is home to various leading research centres including the Nanyang Environment & Water Research Institute (NEWRI) and Energy Research Institute @ NTU (ERI@N). Under the NTU Smart Campus vision, the University harnesses the power of digital technology and tech-enabled solutions to support better learning and living experiences, the discovery of new knowledge, and the sustainability of resources.