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SINGAPORE: Singapore is charging up its information and communications sector by boosting its market network.
As part of the move, small- and medium-sized enterprises (SMEs) have been urged to collaborate with multinational companies (MNCs) on IT-related projects.
This is in line with Singapore's iN2015 masterplan – a 10-year plan to grow the infocomm sector.
One of the key goals of this masterplan is to triple the infocomm industry's export revenue to S$60 billion within the next eight years. It also aims to increase the value-add by two-fold to S$26 billion.
Leong Keng Thai, Deputy Chief Executive Director (Telecoms), Infocomm Development Authority (IDA), said: "The whole idea is to leverage on the large number of major MNCs that we have in Singapore and partner them with some of our local enterprises.
"Together, the MNCs and our local enterprises can develop new products, as well as address overseas markets."
Singapore has set aside S$5 million to help SMEs innovate and grow their businesses.
More companies - ranging from financial services and tourism to healthcare and biomedical - are getting involved.
Lim Teck Sin, CEO of Kooprime, said: "We work closely with IDA to work on initiatives across various life science verticals; for example, bio-research, medical research and pharma manufacturing.
"Thanks to initiatives by IDA, we have established good collaborations and partnerships with various MNCs such as Hewlett-Packard."
Currently, some 12 SMEs are showcasing their infocomm solutions in HP Cooltown, which displays some of the latest technological developments and solutions in the world.
Keith Leong, Director of Hewlett-Packard Singapore, said: "They will see that their solutions can be taken worldwide and with that, we can actually have more commercial revenue to help partners here in Singapore go global."
Under the iN2015 masterplan, some 80,000 jobs are expected to be generated by 2015.
- CNA/so
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