S$20m of project opportunities provided for local startups in IDA programme
As of July, these opportunities include a pipeline of 125 projects with 50 Government agencies, such as JTC Corporation, EDB and HDB.
- Posted 14 Jul 2015 18:09
SINGAPORE: About S$20 million of project opportunities have been provided by the Accreditation@IDA programme for promising local startups.
As of July, these opportunities include a pipeline of 125 projects with 50 Government agencies, such as JTC Corporation, Economic Development Board and Housing and Development Board.
Six of these projects have already been awarded to five accredited companies - KAI Square, Inspire-Tech, Latize, Tagit and Trakomatic. Another six projects are in the final stages and are close to being awarded.
The Accreditation@IDA programme was launched in July last year with the aim of helping young companies build credentials and put them in a position to win projects from Government agencies and large enterprises, where previously they may not have had the opportunity because of the lack of market visibility.
Winning and executing such projects would help the startups to build a track record, which they can leverage when expanding in Singapore and overseas.
To date, the Infocomm Development Authority (IDA) has accredited eight companies and plans to have a total of 20 by March 2016.
The regulator also plans to expand the scope of accreditation to include technologies such as robotics, sensors and autonomous vehicles. Currently, the programme centres on innovative enterprise products with a focus on software.