Singapore launched the Open Innovation Network (OIN) was launched on Wednesday, November 13, an online directory that will serve as a national gateway to feature open innovation challenges happening island-wide.
Jointly launched by Enterprise Singapore (ESG) and Infocomm Media Development Authority (IMDA), OIN is in line with the Research, Innovation and Enterprise 2020 plan and Singapore Digital (SG:D) movement. It aims to encourage industry growth and transformation through open innovation and digitalisation.
The new initiative was announced by Deputy Prime Minister Heng Swee Keat at the Singapore Fintech Festival x Singapore Week of Innovation and TeCHnoloy (SFF x SWITCH).
“ESG’s partnership with IMDA aims to build a more innovative culture among our enterprises, creating new and commercially-viable solutions for the global market," said Edwin Chow, Assistant Chief Executive Officer (Innovation & Enterprise), Enterprise Singapore said.
He added that as a start, the Open Innovation Network will serve as the gateway for both problem owners and solution providers to plug into Singapore's ecosystem for partnerships. "Eventually, we hope to scale this up to a regional platform.”
On the OIN, solution providers including SMEs and startups with an innovative idea or technology can search for relevant problem statements to propose solutions to. They will also be able to access co-development, test-bedding and market opportunities with major organisations.
At the same time, corporates and agencies with pain points can also use the OIN to connect with partners within the ecosystem.
IMDA is also scaling up its Open Innovation Platform (OIP) to include sector challenges for the first time. The agency launched its latest innovation call on November 13 with challenges from the financial services, food manufacturing and Meetings, Incentives, Conferences and Exhibitions (MICE) sectors. The OIP is also accessible on the OIN gateway.
Mr Howie Lau, Chief Industry Development Officer, IMDA said, “We are excited to scale up the OIP to offer sector-wide challenges for the first time. Our partnership with Enterprise Singapore allows us to build on the traction of our OIP to support the Whole-of-Government digital transformation and Services 4.0 efforts."