Singapore IDA to assist start-ups in infocomm ecosystem

By EgovAsia Editors | Feb 4, 2010

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In line with its aim to enrich the diversity of Singapore’s infocomm ecosystem, the Infocomm Development Authority of Singapore (IDA) will be focusing on three development themes over the next three to five years to develop the start-ups in the infocomm ecosystem. The themes are Innovation Catalyst, Market Connector and Talent Bridge.
 
On the first development theme of building up Singapore’s role as an Innovation Catalyst, Andrew Khaw, Senior Director, Industry Development Group, IDA, said, "We want to encourage and catalyze the creation of Intellectual Property in Singapore.”
 
For startups, this means access to resources to help them cross the “Valley of Death”, the typical phase of their growth when they face deep cash flow challenges, so that they can focus on developing their product or service. Under programs such as the National Research Foundation’s Technology Incubation Scheme, for example, the government has selected seven incubators to nurture early-stage high-tech startups, and will provide up to 85% co-investment in startups identified by the Incubator Managers, up to a maximum of S$500,000 per company.
 
IDA is also looking to increase the “Idea Connection” in Singapore. Khaw cited the example of Singapore-based Intellectual Ventures which is looking to increase “invention velocity” hereby taking inventions, providing them with intellectual property protection and sharing the revenues when those inventions are commercialized.
 
The second development theme - Market Connector - aims to stimulate new market demand, connections and the growth of digital markets. “We recognize we are a small market, so we want to encourage connections to the international market,” said Khaw.
 
This can be done by building bridges to regional markets.  Startups can also tap on IDA’s offices in San Francisco, Shanghai, Doha and Bangalore to establish business connections in those markets.
 
The third development theme is to position Singapore as a Talent Bridge. “We want to bring in experienced entrepreneurs to help to upgrade the capabilities and experience base of Singapore startups and entrepreneurs,” said Khaw. At the same time, not all engineering needs to be done in Singapore. Another way that Singapore can function as a talent bridge is to enable local companies to tap on production bases in the Philippines, Thailand and China.