Trends: Infocomm & Technology

Understanding the Singapore ICT market and how to maximise what it has to offer

ICT Market & Opportunities

 
 
Education Sector.  Singapore aims to create an enriching and personalised learner-centric environment for educational institutions through the innovative use of infocomm. Mobile applications (IVLE), Tablet PCs, Online learning systems and 4Di are a few of the technologies currently used in FutureSchools@Singapore. The Ministry of Education is also looking for innovative pedagogies and technologies to promote learning beyond the classroom in Experimentations@Schools.
 
National Service. The Army’s Training Transformation Master Plan (T2MP) is constantly looking to improve the learning environment, pedagogy and information security for soldiers. NS currently employs LEARNet as an online mobile tool for NS Men to access learning resource conveniently. 
 
Financial Services Sector. The Next Generation e-Payment programme aims to promote e-payment adoption to realise the vision of Singapore as a leading e-payment nation. Moreover, they are looking continuously to streamline and improve reporting systems between the private and public sectors such as Corporate Financial Information eXchange (CFIX). Other current technologies used are Contactless e-Purse Application (CEPAS), Contactless Point of Sales (POS) Deployment and Near-Field Communication (NFC) Mobile Payments. With such a vision, security technologies are also highly desirable.
 
Retail/Tourism/Hospitality Sector. Singapore hopes to become a leading travel & shopping destination with the use of innovative technologies. The Digital Concierge (DC) Programme aims to develop transactional, location-based and mobile commerce services to keep customers engaged. Current systems in place are mobile applications and interfaces ranging from mobile storefront, interactive product catalogues, mobile shopping & payment, mobile business directory and promotions and coupons ad etc.
 
Singapore’s Healthcare/ Biomedical Sector. Singapore aims to create an infocomm-enabled personalised healthcare delivery system to achieve high quality care, service and cost effectiveness as well as strong clinical research. Singapore has a suite of research parks housing major MNCs which require SMEs in the park meant support services such as process equipment and laboratory supplies could be pooled, which would boost efficiency for MNCs at the park. Current technologies used are the National Electronic Health Record (NEHR), Integrated Clinical Management System (CMS), Personal Health Record (PHR) Programme and Intermediate and Long Term Care.
 
Logistics/Manufacturing Sector. Singapore aims to increase operational excellence in this sector. Technologies being used at the moment are WISEPORT which is Wi-Fi coverage of Singapore port waters to allow the port community easy access to navigational charts, training material and even entertainment systems. TradeXchange, a secure IT platform to integrate trade and logistic processes to allow for greater operational efficiency and clearer supply chain visibility through enabling the logistics community to file customs declarations, check schedule and book cargo space, transfer titles securely and purchase cargo insurance online. Other technologies used are e-frieght@Singapore, Infocomm@Seaport.
 
 
Do you have a product that may be of interest for the consumers in the Singapore market? Contact Tina at tina@britcham.org.sg  to find out more about what works or to identify potential clients.
 
 

Maximise the potential

 
Leverage on the market information available. Identify where you fit in. Is your ICT Solution able to meet the objectives mentioned? You might like to have a look at our sector guide to find out more.  
 
Leverage on Singapore’s IP Hub. Singapore has a 10 year plan to become Asia’s IP Hub which kicked off in 2012. With the aim to become a hub for IP Transactions and Management, Hub for quality filings and a hub for IP dispute resolution, Singapore has since built an ecosystem to increase the talent pool and expertise available. Singapore was ranked No.2 out of 144 countries in IP Protection by the World Economic Forum’s Global Competitiveness Report 2012-2013. Furthermore, the Intellectual Property Competency Framework (IPCF) was introduced to serve as a key supporting enabler to build a globally competitive IP workforce that is equipped with specialized IP skill sets and to support continued professional development of IP professionals.
 
Leverage on Singapore’s Diverse Business Market (Regional HQs). Major MNCs have regional headquarters located in Singapore enabling easier access to key decision makers and regional operations.
 
Leverage on Singapore’s Incentives. The Singapore government has an ambitious vision called iN2015 which envisions Singapore as an Intelligent Nation powered by Infocomm. In line with this, the government has many incentives to promote the adoption of technology in daily work process through subsidizing costs. The Innovation & Capability Voucher (ICV), Increase SME Productivity with Infocomm Adoption & Transformation (iSPRINT) and Productivity and Innovation Credit (PIC) are part of the available incentives.
 
Leverage on Singapore’s multinational society. Singapore is has a multiracial and multinational society which is ideal for conducting market research and testing the APAC market Companies such as Unilever & P&G use Singapore as a base to access a wide range of nationalities and race types for their market research at one go. Singapore is reputed as product and services test-bed prior to launching products in the rest of Asia.
 
Leverage on Singapore’s skilled workforce. Singapore’s workforce is bilingual and multilingual (depending) due to the nature of the education system. Moreover, the language of business is English which provides a connecting link between the West and Asia. A large pool of foreign students from Asia arrive in Singapore for education and eventually enter the local labour force with knowledge of English, their local language and market understanding. They provide a link to their home countries and eases the entry to other markets in Asia.
 
 

Singapore Government Initiatives

 
Singapore continues to actively support and encourage local registered companies to embrace new technologies and solutions available in the market. ICT is transforming almost every industry internationally. While the Public Sector and our larger corporations have been actively leveraging ICT to increase work productivity, SMEs continue to be slow in uptake due to the limitations it faces, as such the Singapore government is championing the $500 million ‘ICT for Productivity and Growth’ (IPG) programme which comprises of 3 key initiatives: 
 

- Scaling-up Proven ICT Solutions 

- Enabling High-Speed Connectivity for Businesses

- Piloting of Emerging Solutions

 
Over three years (FY14 - 16), IPG seeks to accelerate the adoption of ICT solutions among SMEs and boost SMEs' productivity and growth.
 
 

If you are an SME looking to set-up operations in Singapore:

You will be eligible to benefit from the iSPRINT subsidies for adoption of new technology – up to 70% of total cost

You will be eligible to receive a 50% subsidy of the fibre subscription plan from the government to obtain high-speed internet connections to ensure that operations run smoothly and efficiently.

** New companies are eligible for many other subsidies. To find out more please contact Jennifer at jennifer@britcham.org.sg.

 

If you have a technology that can increase productivity in a company: 

Under the iSPRINT programme, should your technology be accessed to be able to increase work productivity, your customers will be able to purchase your product at a fraction of the full cost! 
 
70% of the qualifying costs will be subsidised by the government and SME will pay 30% of the cost.
 
 
 
 
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