Startups and Small and Medium-sized Enterprises (SMEs) interested in developing products and services for the Internet of Things (IoT) and wearable technology segments are getting serious support from government agencies and global companies.
SPRING Singapore and Intel Singapore have announced an initiative to establish an ecosystem of Singapore companies capable of developing world-class IoT and wearable products and services based on Intel technology.
SPRING Singapore is an agency under the Ministry of Trade and Industry responsible for helping Singapore enterprises grow and building trust in Singapore products and services. The agency supported 9,000 SMEs in 2014 to boost productivity and international competitiveness.
The SPRING Singapore and Intel Singapore initiative is being managed under SPRING’s Partnerships for Capability Transformation (PACT) programme, of which Intel is a supporting member. Under PACT, Intel works closely with SPRING to identify SMEs and provide business and technology guidance. Members of PACT will identify projects and business opportunities in healthcare, home energy management and assisted living. The Centre of Innovation for Electronics at Nanyang Polytechnic will provide consultation and engineering support.
Currently, there are nine local startups and tech innovators that are part of the initiative, including ConnectedHealth, gridComm, and Trilogy Technologies. These companies have strong industry expertise in healthcare wearables, IOT solutions for remote patient and elderly monitoring, home energy management systems as well as expertise in wireless technology, manufacturing and user experience design.
Building capabilities in loT and wearable technologies is a complex undertaking and the expertise and guidance from companies like Intel is invaluable in undertakings of this kind, a sentiment that was expressed by Fung Mok Wing, Director of PACT in a press release.