Page 42 - Forbes - Asia (July - August 2018)

SPECIAL ADVERTISING SECTION
communities are part of JTC LaunchPad@
one-north, a 6.5-hectare site that was set
up in 2015 to provide a conducive envi-
ronment for start-ups to grow. The area
is located close to public and private
research institutes and tertiary institu-
tions to facilitate collaboration between
academia and industry.
Recognizing that security will be a key
enabler in a digital economy, the country’s
first integrated regional cyber security
hub, the Innovation Cyber Security ecosys-
tem, was set up earlier this year at Block
71 to support start-ups, entrepreneurs and
academics from around the world in this
increasingly important field.
To imbue businesses with the confi-
dence to invest and innovate from Singa-
pore, the government has also put in place
robust measures to protect intellectual
property (IP). As a result, the country was
ranked first in Asia for Best Protection of
IP in the Global Competitiveness Report
2015-2016. Reflecting the standing of Sin-
gapore’s IP regime, the World Intellectual
Property Office (WIPO) set up its first Singapore’s first illuminated bus featuring eLumiNex, a breakthrough large-format
Asian office in the country in 2005. backlit film technology made possible by local SME, Film Screen, and the Singapore
Institute of Manufacturing Technology, a research institute under A*STAR.
Breeding Innovation —
From Singapore, for the World Technology giant Philips has also are already selling their solutions interna-
The various efforts undertaken by Singa- established an innovation facility in Sin- tionally. The company has pioneered an
pore to develop its innovation ecosystem gapore that allows related stakeholders image-recognition solution that is being
are bearing fruit—according to Startup to collaborate on solutions in the health- used by global retailers such as ASOS,
Genome’s Global Ecosystem Ranking care sector. Known as the Health Contin- Rakuten, and Uniqlo.
Report 2017, Singapore has overtaken uum Space, the first-of-its-kind innova- And it is not just tech companies that
Silicon Valley as the top place for start-up tion facility for Philips globally brings to are making waves. Singapore companies
talent. The number of tech start-ups has life different medical scenarios, such as in traditional industries are also riding the
also blossomed in recent years, surging a home setting, an ambulance and emer- fourth industrial revolution, commonly
by more than 50% from 2,800 in 2003 to gency and recovery rooms, as well as an described as the coming together of
4,300 in 2016, according to data from the intensive care unit. physical and digital technologies, to stay
Singapore Department of Statistics. Meanwhile, local companies are lever- relevant in a fast-changing environment.
Meanwhile, the World Economic aging Singapore’s innovation ecosystem Food manufacturer and distributor Thong
Forum’s Readiness for the Future of Pro- to make their mark on the global stage. Siek Food Industry, which was established
duction Report 2018 cited Singapore as Some of these businesses are working in the 1970s as a family-run, backyard
being one of only 25 countries well-posi- with public sector research perform- business, is one such company that has
tioned to benefit from next-generation ers like A*STAR and National Research adopted advanced manufacturing tech-
manufacturing technologies. Foundation, to develop groundbreak- nologies to improve efficiency and grow
This growing vibrancy has not gone ing solutions, in R&D and manufactur- its operations.
unnoticed as more multinational corpo- ing hubs such as Fusionopolis, Biopolis, In the following pages, you will read
rations are setting up their regional inno- CleanTech Park, Tuas Biomedical Park, about how some of these companies
vation centers in Singapore, with many and Singapore Science Park. have leveraged innovation opportunities
partnering local institutions. One such For instance, the Singapore Institute of in Singapore to make their mark on the
example is the Visa Singapore Innovation Manufacturing Technology (SIMTech), a region and the rest of the world.
Centre, a collaborative space where part- research institute under A*STAR, collabo-
ners can work with the payments com- rated with local firm Film Screen to develop
pany in co-creating payment and com- a world-first, printed lighting technology
merce solutions for mobile and digital to be used on bus advertising. This has Made possible by: Brought to you by:
platforms. The center, which is Visa’s first allowed Film Screen to be a first-mover in
in Asia, functions as a commercial gate- the untapped market for large-sized, illumi-
way, helping Visa’s partners extend their nated advertising.
service offerings into Asia and beyond. Others, such as tech start-up ViSenze,

3 Singapore