Previously the Infocomm Development Authority (IDA) of Singapore announced that they would make the country the world’s first smart nation. But what did they mean by a smart nation? Well for one thing it means trying new things, building on them, testing them and moving forward. Transportation, population density, population aging and healthcare are some of the problems faced by the developed countries. Using smart technologies to solve these issues is what the initiative is all about.
We believe that this initiative to build a smarter nation will drive demand and present opportunities for lots of new technology ideas in the country. To nurture these new initiatives, SPRING Singapore and Intel has partnered up to provide support for the young startups in the Internet of Things (IoT) and Wearable Tech sector.
The companies have agreed to provide support for both startups and small and medium-sized enterprises that are interested in developing products and services in the Internet of Things (IoT) and Wearable Sectors. Their main idea is to create a Singaporean ecosystem of companies involved in those technologies , managed under SPRING’s Partnerships for Compatibility Transformation Program (PACT).
Through this partnership Intel will be providing technology assistance and business guidance to these SMEs and startups. The assistance will be of different dimensions such as, providing the business with guidelines to identify the right product architecture, clearly defining intellectual property elements and providing advice on business models. The company will also help the business to select the right Intel technology that best fits their idea.
SPRING and Intel also plan to support qualifying businesses with funding through SPRING’s Capability Development Grant (CDG). This award will be granted by SPRING, but Intel will provide some assistance and recommendations. The participant enterprises will also receive counselling from Center of Innovation for Electronics at Singapore’s Nanyang Polytechnic.
The initiative has rolled out its first phase and is looking for participating enterprises in the categories of Internet of Things (IoT) and Wearable Technology. Already nine Singapore businesses and startups have signed for the project, however, SPRING and Intel are looking for more companies to participate in the PACT program.
The current lineup of participating companies include wearable tech company T-Ware, IoT company NextTan, green and health-tech specialist Newton Circus Connected Health and energy software and hardware companies Intraix and Gridcomm.