7 December 2020 - SINGAPORE – IPI, a subsidiary of Enterprise Singapore (ESG) has repositioned their value proposition and revealed a new brand identity as Innovation Partner for Impact at the opening of its flagship technology brokerage event TechInnovation 2020.
“The new brand identity aptly reflects IPI’s current positioning, which has evolved from IPI’s role as a leading driver of innovation opportunities for enterprises. It comes after years of growing our global innovation network and successfully expanding our portfolio of services in response to the evolving needs of enterprises in Singapore,” says Wong Lup Wai, Chief Executive Officer of IPI.
“Our refreshed identity is reflective of IPI’s bold commitment to delivering impactful outcomes with the partners we work with. Beyond the role of an intermediary, we will take on a greater role to help more enterprises transform through innovation with a more holistic end-to-end support for enterprises - from ideation, product development to commercialisation,” he adds.
The rebranding emphasises IPI’s clear focus on assisting enterprises to thrive through proactive innovation. It is especially fitting when uncertainties brought about by the global COVID-19 pandemic are forcing organisations to adapt, accelerate, and embrace technological innovation to stay afloat.
Catalysing growth and innovation
Since its inception in 2011, IPI has helped to catalyse growth and innovation opportunities for Singapore enterprises across various industries by matching them with technology partners and global experts to innovate and co-develop new products, services and processes.
To augment the support to enterprises, in late 2019, IPI also implemented the Innovation Advisors Programme in partnership with ESG. The programme enables business transformation among small and medium enterprises (SMEs) as they propel into product, process or business model development. SMEs can tap into a pool of Innovation Advisors; experienced industry professionals who possess strong technology expertise, connections and business acumen to achieve accelerated growth.
Since its launch, IPI has onboarded more than 15 enterprises onto the Innovation Advisors Programme to help them grow through technology and innovation collaboration.
One example is Par Investments Pte Ltd, a local food commodities and ingredients supplier. With guidance from an Innovation Advisor, the company has developed new capabilities in food valorisation technological know-how. The initial trials have shown promising results and the innovation is projected to double the company’s revenue at the group level over the next three years.
Track record in facilitating innovation-led growth for Singapore enterprises
IPI’s market-led approach towards facilitating collaboration, backed by its multidisciplinary team of technologists and access to a global innovation ecosystem, has enabled many companies to meet their innovation needs.
Through IPI, Singapore health and wellness product manufacturer OSIM International was connected with US technology company NeuroSKY to explore integrating ECG sensor technology in their new massage chair. The collaboration has led to the development of a stress-sensing feature in OSIM’s world’s 1st well-being chair, the OSIM uDream. It combines stress sensor technology and biometric algorithm to measure the user’s stress level, and other technologies to formulate a personalised well-being experience through the five senses of the user. Launched in September 2020, OSIM expects the product innovation will help them to drive further revenue growth and stay ahead in a competitive market.
In another collaboration, Singapore IT start-up LeanCost International and local SME SMT Technology have developed the SmartCost System, a solution that helps companies reduce their manufacturing costs and optimise their production output through the conversion of technical operational data into simple equivalent costs, creating a real-time monitoring of costs in manufacturing processes. More case studies are available at the Annex.
Ninth edition of TechInnovation continues to spur open innovation and tackle sustainability challenges
TechInnovation – a leading innovation conference and technology exhibition organised by IPI – is going digital. This year, it has assembled over 260 speakers and exhibitors from 20 countries that will showcase more than 250 technologies for commercialisation. The 30% increase in exhibitor registration compared to last year, of which 60% are international exhibitors, shows that there is high interest from companies and industries to pursue technology collaborations with the global ecosystem despite the challenges brought about by the pandemic.
Highlights of this year’s TechInnovation include:
- The Sustainability Open Innovation Challenge (SOIC), co-organised by ESG and IPI. Innovators with the right solutions could have the chance to work with leading organisations such as Haier, Dole, Mandai Wildlife Reserves and Sentosa Development Corp. to tackle their sustainability challenges.
- Crowdpitching by international innovators assembled by innovation agencies such as DeltaTech-Korea, Innovate UK and Nordic Innovation House Singapore, and local technology providers with frontier enabling technologies and solutions. They will seek collaboration and commercialisation partners in the growth sectors relating to Digital Economy, Food and Nutrition, Health & Personal Care and Urban Solutions & Sustainability.
- DesignSingapore Council returns for its second year as a content partner at TechInnovation. Two new exciting segments will make their debut. Singapore designers will pitch their innovation ideas to enterprises at Design Runway; and leading corporates Danone, Procter & Gamble, Johnson and Johnson and The Coca-Cola Company will share their design challenge statements to source for solutions from industry and designers at Design Think Tank.
IPI is an innovation catalyst that creates opportunities for enterprises to grow beyond boundaries. As a subsidiary of Enterprise Singapore, IPI accelerates the innovation process of enterprises through access to its global innovation ecosystem and advisory services. For more information, visit www.ipi-singapore.org.
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