February 29, 2024

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IMDA: Singapore Continues to Lead with Innovation

With tech giants landing on local shores, Singapore continues to grow in stature as a global tech and innovation hub. Built on high-quality infrastructure and a vibrant ecosystem of over 3,400 start-ups and 600 investors, the city-state was ranked the fifth most innovative city in the World Economic Forum’s 2019 Innovative Cities Index.

Fast forward to 2021, Singapore has now emerged as the second most innovative economy on an international Innovation Index, for showing resilience amid the COVID-19 situation. The country’s efforts to spur innovation form part of a larger vision to build a resilient, sustainable and digital nation. In December 2020 Singapore’s five-year Research, Innovation and Enterprise plan was released, committing S$25 billion in funding research and development efforts to maximise the unique opportunities unveiled by the pandemic.

To further boost Singapore’s innovation ecosystem, The Infocomm Media Development Authority (IMDA) is supporting the growth of local companies, providing avenues for collaboration, commercialisation and internationalisation. Accordingly, the agency had launched various programmes to help businesses embrace innovation, including the Open Innovation Platform (OIP), Accreditation@SGD, as well as the annual Techblazer Awards.

IMDA’s OIP is a virtual crowdsourcing platform that bridges hundreds of enterprises according to their needs. No longer do companies have to rely only on internal teams to address their biggest pain points. Instead, companies present their challenges through OIP, opening themselves to a wider spectrum of possible problem-solvers for their challenges. In turn, up-and-coming tech providers rise to the occasion—engaging enterprises they might never have reached otherwise and embellished their portfolio with successful innovation projects.

Meanwhile, IMDA’s Accreditation@SG Digital (Accreditation@SGD) programme spotlights promising Singapore-based tech companies to help them establish credentials and build business traction. By positioning these companies as qualified tech providers with the capability to deliver, Accreditation@SGD enables their solutions to reach potential Government and large enterprises.

To recognise and reward such innovation efforts, IMDA organises the Techblazer Awards each year—the nation’s highest accolade for tech innovation. Notably, SafeEntry by GovTech won the award for Best Adoption by the Public Sector for its role in facilitating digital check-ins during this pandemic period.

While innovation may initially seem daunting, it is precisely during times of great uncertainty where it shines most. As the companies have shown, innovation not only helps enterprises stay afloat, but the solutions generated through such efforts also strengthen Singapore’s resilience in the ongoing fight against COVID-19.

Serving as an example to countries worldwide, Singapore’s tradition of innovation fuelled by efforts like the OIP, Accreditation@SGD and Techblazer Awards has helped the country to not just weather the storm but rise above it—exemplifying the crucial role of innovation in resilience.

As reported by OpenGov Asia, Singapore will also continue to enhance its infrastructure investments in the region. The various projects by the government such as emerging technology platforms and solutions aim to continuously improve the digital connectivity and cybersecurity of the nation. Beyond these new schemes, the government will also extend to end-March 2022 the enhanced support levels of up to 80 per cent for existing enterprise schemes. These existing initiatives include the Scale-up SG programme, Productivity Solutions Grant, Market Readiness Assistance, and Enterprise Development Grant.

On the increased funding to redesign jobs, Finance Minister Heng said that Singapore must leverage technology to develop senior-friendly workplaces. “In the coming years, a critical part of business transformation will be in job redesign,” he added. With technological advances, many physically demanding or repetitive tasks can be better done by machines.

These moves are part of a suite of capital tools announced under this year’s Budget. The government is looking to catalyse a wide range of capital to co-fund and enable businesses to innovate, transform and scale.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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