Page 47 - Forbes - Asia (July - August 2018)

SPECIAL ADVERTISING SECTION
ACCREDITATION@SG DIGITAL:

ACCELERATING THE GROWTH OF DISRUPTIVE COMPANIES

As part of its efforts to be an innovation opportunities valued at more
hub for the region, Singapore provides than US$147 million have been
significant support to innovative technol- created. Meanwhile, 15 com-
ogy companies that are based here. panies have raised more than
One program run by government S$100 million (US$73 million)
agency Info-communications Media to fuel their growth during and
Development Authority (IMDA) helps after accreditation.
these companies to accelerate their Accreditation@SG Digital dif-
growth as well as more effectively pen- fers from other start-up support
etrate local and international markets. schemes in the breadth of its
Known as Accreditation@SG Digital, assistance; it extends beyond
the initiative offers new business oppor- financial and technology sup-
tunities to companies by matching them port to the business and finan-
with government agencies and potential cial aspects of a company.
private sector customers. It also helps “What we really appreci-
streamline the procurement process for ated about the accreditation Taiger, a SG:D accredited company, receiving the
public sector projects. process was that it set a bar for 2017 Citi FinTech Challenge Grand Award.
Accredited companies are given access companies to show that their
to a network of investors, mentors and products, processes and financial position with selected local government agencies
enterprise partners to assist in their were strong enough to bid for projects on national strategic projects.
expansion. These measures help com- in the government and private sectors,” At the same time, two of Singapore’s
panies to quickly build their track record said Joseph Gan, Co-Founder and Presi- local banks are utilizing V-Key’s solutions
in Singapore, creating a springboard for dent of V-Key, which has been accredited for their mobile banking strategies, inte-
regional expansion later on. by IMDA. grated with the DBS Digibank and the
To date, 27 Singapore-based compa- Founded in Singapore in 2011, V-Key UOB Mighty mobile banking and payment
nies offering a range of innovative solu- develops solutions that secure mobile apps. Because of its track record built in
tions have been accredited, with more devices. Being SG:D accredited helped the Singapore, the company’s solution has
currently undergoing the rigorous pro- company secure government projects at a since been deployed in both regional and
cess. Government and enterprise project much faster pace. V-Key is collaborating international banks.
The Accreditation@SG Digital team was
also instrumental in artificial intelligence
start-up Taiger moving their intellectual
property and key operations to Singapore
in 2015. The company was established in
Spain in 2009 and has now become a global
champion in knowledge worker automation.
The team introduced the company to
local investors and provided advice to
Taiger on working with investors, which
helped Taiger secure US$5.9 million in a
recent Series A funding round.
“The accreditation scheme is very spe-
cial. If IMDA takes you on board, you are
not just getting a seal of approval but also
support for funding, talent acquisition and
marketing,” said Sinuhe Arroyo, Taiger’s
Chief Executive Officer.
He added: “IMDA is very plugged into
the ecosystem here and we know that
the partners they introduce us to can be
trusted, which is especially important
when you are new to a country. If not for
V-Key, a SG:D accredited company, showcasing its digital identity for mobile at the IMDA’s accreditation we would not have
Cloud and Cyber Security Expo 2018 in Hong Kong. achieved what we have so far.”

Singapore 8