Minister for Culture, Community and Youth and Second Minister for Law Mr Edwin Tong said yesterday that the Intellectual Property Office of Singapore (IPOS) will roll out more initiatives to help businesses use intellectual property (IP) to thrive during the COVID-19 pandemic.
Opening IP Week @ SG 2020, he announced new initiatives to speed up registration for trademarks and registered designs; expand the features of IPOS’ trademark registration app to include search functions for domain names and social media account names; and build IP mediation experience among youth.
In his opening remarks at IP Week @ SG 2020, Mr Tong said: “COVID-19 has disrupted the way we work, the way we interact with each other and the way we live, all in unprecedented ways. As countries and cities shut down, people engage in social distancing, technology has become essential in all aspects of our lives. We can expect new innovations to emerge more swiftly and with greater intensity to help businesses and communities define and adapt to a ‘new normal’. The work of IP offices around the world in enabling and protecting new creations is even more important now.”
“Concrete initiatives to empower companies in capturing opportunities through IP are already in place, with more on the way. We are accelerating those in the pipeline to support companies through the pandemic. We want to upskill enterprises’ IP capabilities and help businesses obtain quicker and easier IP protection,” Mr Tong said.
Enhancing the Patent Fast Track Scheme and launching new initiatives
Mr Tong noted that patents are only one aspect of IP protection and that the government wants to enable enterprises to swiftly obtain protection for other types of IP as well.
“To do so, we will be launching SG IP FAST. SG IP FAST extends beyond patents, to also accelerate the registration processes for trademarks and registered designs. Enterprises can secure IP protection in Singapore fast and leverage that to grow their business with confidence,” he said.
SG IP FAST is an enhancement of an earlier scheme, SG Patent Fast Track, launched by IPOS in April this year. The SG Patent Fast Track, the world’s fastest application-to-grant process of its kind, accelerates grants of patent applications in all technology fields to just six months.
Another new initiative is enhanced features for IPOS GO, the world’s first mobile app for trademark applications which has attracted over 3,500 downloads and more than 500 applications since its launch in August 2019.
A new feature will allow enterprises to easily look for similar business names, trademarks, domain names and social media account names – all within a single search, enabling enterprises to make more informed branding decisions.
A third initiative will involve IPOS working with aspiring and fresh law graduates on a Young IP Mediator programme to build up IP mediation experience among Singapore’s youth.
IPOS’ role becoming more important in Singapore and internationally
The Minister also noted that “IP is also a bright spot for international cooperation and collaboration at a time of increasing protectionism.” IPOS’ role has become more important in this environment and it has been working closely with other countries in the region and further afield for smoother, faster IP protection globally.
Within Singapore, there is an ongoing whole-of-government effort, in partnership with its stakeholders, to further develop Singapore’s capabilities in IP management. “We will develop Singapore’s IP strategy to position our nation as a base for ideas, intangible assets and IP from anywhere in the world, from which to access markets in other parts of the world,” Mr Tong said.
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.
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.
The Singapore Food Agency (SFA), National University of Singapore (NUS), Temasek Life Sciences Laboratory (TLL), and seven industry partners signed a Memorandum of Understanding (MoU) to develop the AquaPolis Programme.
The AquaPolis Programme is an initiative under Singapore Food Story R&D Programme 2.0. It envisions Singapore as a leading research and innovation cluster for sustainable tropical aquaculture. The aim is to gather local and overseas aquaculture researchers and industry partners to foster strategic synergies in developing innovative and sustainable solutions while cultivating talent for the industry’s workforce.
AquaPolis will capitalise on the technical, operational and research expertise of strategic partners to achieve translational R&D results, in improving the productivity and competitiveness of our local farms towards Singapore’s “30 by 30” food security goal.
This goal aims to build the agri-food industry’s capability and capacity to sustainably produce 30% of Singapore’s nutritional needs by 2030. Beyond local production, the developed solutions and innovations may also be relevant to agri-food industries in other regional countries and contribute to sustainable food practices and enhance our food security, particularly in the light of climate change.
The MoU demonstrates the shared commitment of SFA, NUS, and TLL in R&D collaboration, and exchanges with industry partners on the knowledge of cultivation and intensification of sustainable aquaculture production in Singapore.
The MoU was jointly signed by the Chief Executive Officer of SFA; the Deputy President (Research and Technology) of NUS; the Chief Executive Officer of TLL as well as major heads from the seven industry partners.
The Chief Executive Officer of SFA stated that the agency welcomes the strategic collaboration. He noted that it is exciting to see R&D talents from local and overseas institutions as well as our key industry partners, coming together with innovation and sustainability in mind, to build Singapore’s capabilities and capacity in aquaculture within Singapore and beyond.
The aquaculture industry plays a key role in Singapore and the world’s food security, and the leader is confident that these collective efforts will strengthen food security and build a resilient food future for Singapore.
The Deputy President (Research and Technology) of NUS stated that the University is excited to host the AquaPolis Programme. The University looks forward to collaborating closely with the Singapore Food Agency and Temasek Life Sciences Laboratory to co-create innovative research solutions to address challenges in tropical aquaculture.
The Chief Executive Officer of TLL stated that AquaPolis represents a milestone in Singapore’s 20-year journey to bring together partners, with a vision to transform our aquatic food systems to be more sustainable and resilient for a growing population considering global climate changes.
The Lab looks forward, together with SFA and NUS in partnership with the industry partners, to help lay the foundation for research-based innovation to address challenges faced by the industry today and to nurture the next generation of aquaculture champions to benefit all consumers in Singapore.
SFA will be uplifting the aquaculture industry in the coming years through the Singapore Aquaculture Plan (SAP). Through the SAP, SFA will focus on productive and sustainable production and unlock the full potential of sea-based fish farming.
- Unlocking new spaces through sea space tenders and longer leases;
- Supporting the aquaculture sector to transform into one that is highly productive, climate-resilient and resource-efficient using technology and adopting appropriate farm management methods. These include conducting environmental surveys and water and seabed quality surveys to better inform farm management;
- Supporting research and innovation for sustainable tropical aquaculture through leveraging on SFA’s Marine Aquaculture Centre.
Singapore’s Infocomm Media Development Authority (IMDA) has recently updated its platform known as Chief Technology Officer-as-a-Service (CTO-as-a-Service). The platform enables SMEs to self-assess their digital readiness and needs at any time and from any location, as well as access market-proven and cost-effective digital solutions and engage digital consultants for in-depth advisory and project management services.
This is for any business entity that wants to know how to start going digital, understand what type of solutions to adopt for its specific business challenge, or choose the solution that best meets its needs.
An enterprise can benefit from CTO-as-a-Service through:
- Conduct a self-evaluation of its digital readiness and pinpoint its gaps and needs in terms of digitalisation;
- Study other Small and Medium Sized Enterprises (SMEs) that have carried out digitalisation projects successfully;
- Receive digital solution suggestions based on the business’s needs and profile; and
- Evaluate the features and costs of various digital solutions.
There are more than 450 subsidised digital solutions available for selection, including those that address industry-specific or general business needs, as well as those that serve to streamline operations, increase business sales revenue, or ensure business resiliency.
The business can also work with digital consultants from the designated operators through CTO-as-a-Service, for digital advisory to assist:
- Seek a deeper comprehension of its business priorities and needs;
- Create training plans and digital solutions specifically for its businesses;
- Include fundamental data usage, protection, and cybersecurity risks in the digitalisation process.
The business may also ask digital consultants to assist with project managing the rollout of its digitalisation initiatives.
Eligible businesses can use digital advisory and project management services for free for the first time. Should the businesses want to keep using digital consultants, future usage or service enhancement will be based on commercial agreements.
Any company that satisfies the requirements below is qualified to use free project management and digital advisory services for the first time:
- Licensed and active in Singapore;
- A minimum of 30 per cent local shareholding;
- Enterprise’s group employment size is no more than 200 employees, or the group’s annual sales turnover is no more than S$100 million;
- Has never previously used CTO-as-a-Service digital consultants.
Meanwhile, SMEs are the backbone of Singapore’s economy. They employ two-thirds of the country’s workers and contribute almost half of Singapore’s GDP. Since digital technology is changing every part of Singapore’s economy, SMEs need to take advantage of digital technologies to grow and do well.
The SMEs Go Digital programme, which was started by the IMDA in April 2017, is meant to make going digital easy for SMEs. More than 80,000 SMEs have used the programme’s digital solutions.
Enterprises can also use advanced and integrated solutions to improve their capabilities, strengthen business continuity measures, and build longer-term resilience. Solutions that are supported by government agencies solve common problems at the enterprise level on a large scale, help enterprises adopt new technologies, and make it easier for enterprises to do business within or across sectors.
IMDA works with sector-led agencies and industry players to find advanced and integrated digital solutions that can be supported and are relevant to their sectors. Companies that want to use these solutions can check the IMDA website to find out when they can apply for each one.
Costs for hardware, software, infrastructure, connectivity, cybersecurity, integrations, development, improvement, and project management can be covered by funding support. With this, the agency has kept helping businesses, and the list of solutions that are supported will grow, with an emphasis on AI-enabled and cloud-based solutions.