The Straits Times Online published an article on President Halimah Yacob’s five-day state visit to Germany which focused on education and the workforce, where she highlighted that Singapore can learn from Germany’s education system. Under Germany’s dual education system, companies and education institutions work together to teach students over three years. Madam Halimah also hailed the European Union-Singapore Free Trade Agreement as an important milestone and expressed her hopes that the EU-Singapore Investment Protection and Partnership Cooperation Agreement would be ratified soon, adding that there is scope for more collaboration in the areas of research, innovation and technology, with her visit featuring a number of tie-ups between German partners and Singaporean organisations such as the EDB, Enterprise Singapore and SGInnovate.
Asia Fruit reported that SGInnovate has invested in Singapore-based supply chain traceability platform DiMuto to help them drive further international expansion into markets such as Europe and Latin America in the next few months. Gary Loh, founder and chairman of DiMuto said that the investment will help the company to capitalise on its global growth momentum. To date, DiMuto has tagged more than 30m fruits and tracked and traced over US$100m worth of agri-food trades. It currently has a presence in seven countries including the US, China, Thailand, Australia and Mexico.
IBS Intelligence reported that Tribe Accelerator has facilitated the fundraising of $15.7 million, raising its total funding to $28 million for startups across the world. Tribe Accelerator has expressed intentions of propelling government partnerships with countries to promote development through technology, with Ng Yi Ming, Managing Partner of Tribe Accelerator sharing that it is necessary to help fuel up the current ecosystem. According to Hsien Hui Tong, Head of Venture Investing at SGInnovate, which is one of the partners for Tribe, the partnership will allow SGInnovate to get closer to the action and support the promising startups through investments and venture building efforts.
Tech in Asia reported that Singapore-based healthtech startup Lucence has raised US$20 million in a series A round led by global healthcare provider IHH Healthcare, with participation from SGInnovate and Heliconia Capital, amongst others. Lucence, which is a spinoff from A*Star in 2016, uses liquid biopsy, a blood-based technology that’s less invasive than tissue biopsies, to help clinicians analyse a tumour and make treatment decisions. The new funds will enable the company to reach more patients across Asia and North America, and the company is planning to embark on new prospective clinical studies to evaluate its technology for early detection of multiple cancers.
Yahoo! Finance published a press release from Experian which announced that the inaugural Asia Pacific edition of its Vision Conference would be coming to Singapore in 2020. Experian’s Vision conference in North America has helped to connect business leaders to innovative ideas and solutions which help them target new markets, grow customer bases and reduce fraud. Vision 2020 APAC will shine a spotlight on major shifts which are reshaping the region and the significant growth opportunity that lies with the application of data assets today, to enable the provision of better services. The speaker line-up features some 50 industry experts and leaders including Steve Leonard, founding CEO of SGInnovate.
Singapore Business Review reported that MAS has joined a consortium of financial industry partners to introduce Veritas, a framework promoting the adoption of AI and Data Analytics (AIDA)-driven solutions. The framework will enable financial institutions to evaluate their AIDA-driven solutions against the principles of fairness, ethics, accountability and transparency (FEAT). Veritas will comprise of open source tools that can be applied to different business lines, such as retail banking and corporate finance, and in different markets. The platform will focus on use cases in three areas, customer marketing, risk scoring and fraud detection for a start. The Veritas consortium is currently made up of 17 members, comprising MAS, SGInnovate, EY and 14 other financial institutions.