Latest News In Innovation - SGInnovate
 

Keep up to date with the latest news in innovation – from Singapore to the world.

  • Do you have a solution to the biggest challenge in human history?

    Do you have a solution to the biggest challenge in human history?

    Eco-Business published an article on the launch of the Liveability Challenge, in which SGInnovate is a partner of. Attending the launch was SGInnovate’s Pang Heng Soon, along with industry leaders and an audience of more than 100 sustainability entrepreneurs. The Liveability Challenge is a Temasek Foundation Ecosperity-supported programme that is offering up to S$1 million in funding for ideas that change the way we produce and consume energy and resources.

    Topics: Others

  • Diving into Deeptech | Campus

    Diving into Deeptech | Campus

    Campus Magazine published an article on the opportunities for deep tech with SGInnovate. As emphasised by Singapore’s Finance Minister Heng Swee Keat at the SGInnovate second year anniversary, one of the challenges that the local deep tech startup ecosystem faces is finding suitable talent. To that end, SGInnovate launched its first apprenticeship programme known as the Summation Programme in 2018, to connect promising deep tech startups with bright students from both tech and non-tech backgrounds that are currently studying in local and overseas universities. Working for the AI-driven firm Taiger, SUTD apprentice Gabriel Wong was tasked with creating a tool that converts images into text and an engine that could extract specific text from complicated documents. NUS apprentice Jinna Qian, who interned at V-Key, asserts that it was important to stop discouraging women from joining the tech sector. She added that based on her experience, deep tech startups are gender-neutral in terms of work, and both men and women are evaluated equally for the work they have done.

    Topics: Talent

  • Move the Needle: 3 Things Emerging ASEAN Economies Need To Benefit From Deep Technology?

    Move the Needle: 3 Things Emerging ASEAN Economies Need To Benefit From Deep Technology?

    Inc ASEAN published an article based on an email interview with Steve, on the three key factors that need to be in place for emerging ASEAN economies to benefit from deep technology. As the ideal hub for deep tech startups, Singapore acts as the jump-off point for deployment for startups to emerging markets. For instance, while Adatos, one of SGInnovate’s portfolio company, is based in Singapore, it works with some of the biggest food producers in Southeast Asia to address a genuine problem in the world – food security. SGInnovate aims to develop deep tech startups into high potential companies with global impact, to build and scale their products from Singapore for Southeast Asia and the world. Steve shares the three key factors that emerging ASEAN economies need in order to benefit from deep tech:

    • Education: To many, deep tech may seem like a black box where the lack of understanding often stands in the way of widespread adoption. Through education, people will gain a deeper understanding of deep tech, and the fear of ceding control to such technologies can be addressed.
    • Regulation: Emerging technologies bring economic and societal benefits, but they will also come with their own sets of ethical issues. Proper regulations are thus needed to encourage innovation by building accountability and public trust.
    • Talent: For deep tech to take off and drive the economies of Southeast Asia, startups in the region will need access to a large pool of highly skilled and capable talent. This will only be possible through an open innovation platform where the convergence of Institutes of Higher Learning (IHLs), large corporates and deep tech startups, create opportunities where creative ideas can be commercialised into innovative products and services.

    Topics: Talent, Others

  • Deep tech trends to look out for in 2019

    Deep tech trends to look out for in 2019

    Jumpstart Magazine published an article on the deep tech trends to look out for in 2019, from an investment perspective. According to Hsien-Hui, while deep tech has become a hot topic in recent years, investors should remain careful about separating the wheat from the chaff.

    - AI as a specialised problem-solver: 2019 will be the year for AI companies that are narrowly focused on specific processes to solve industry pain points to win big in the market, such as AIDA and Taiger. AI startup that identifies their target audience as everyone usually means that their revenue will likely be highly skewed on the service side, making them unable to scale and an unattractive investment to VCs.

    • Blockchain assumes its next form: Again, solving a specific problem for a niche industry is critical in differentiating high potential blockchain companies from the rest. Keep an eye on blockchain applications that do not go up against the technological barrier of scalability, but solve challenging problems that involve a smaller number of stakeholders.
    • The doctor will see you now: Products that assist and augment the role of medical professionals will see better traction in 2019. Healthtech is likely to remain highly localised due to data privacy laws, thus, concerns over scalability and speed of growth should be considered.
    • We don’t need roads where we’re going, yet: At the platform level, AVs are not likely to be an area of focus in 2019. Instead, the intermediate stage occupied by teleoperations, namely remote-controlled vehicles, is expected to see increased growth because they are deployed in labour-intensive industries or hazardous areas

    Topics: A.I., Blockchain

  • Blockchain branches out, away from cryptocurrency

    Blockchain branches out, away from cryptocurrency

    TechTrade Asia published an article on the progress of blockchain in 2018, and how the technology will play out in the coming year. According to Steve, blockchain will play a bigger role beyond the financial industry. For instance, it can be used to address food safety by preserving the integrity of food supply, create a greener ecosystem through energy or electricity-sharing on the Blockchain, increased transparency in logistical supply chains, and stamping out counterfeit drugs in the healthcare system. He added that blockchain can help solve poverty issues on a large scale and create an economic impact on the underserved community in Southeast Asia. The lack of access and difficulties for many of the unbanked and underbanked population is creating barriers for these communities to come out of poverty, and blockchain helps to remove the need for a ‘middle man’ that requires a fee for a bank account opening or usage, reducing the cost of transactions. Finally, Steve gave the example of how AID:Tech, one of SGInnovate’s portfolio companies, is enabling aid, welfare, remittances, donations and healthcare to be digitised and delivered through blockchain technology in a transparent manner.

    Topics: Blockchain

  • Key Technology Trends for 2019

    Key Technology Trends for 2019

    CNBC Asia conducted an interview with Steve on its morning programme, Squawk Box Asia, on the key technology trends for 2019. Apart from cryptocurrency, Steve highlighted that there are more important use cases for blockchain such as for the management of digital assets or creation of digital identities. For MedTech, innovations in this field remain a tough one to crack due to the complex regulatory environments in different countries, a longer time for investments to be realised, and a challenging adoption curve.

    Topics: Others

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