SINGAPORE - Small and medium-sized enterprises (SMEs) can tap a newly launched platform to supercharge their expansion abroad by honing their ability to innovate and create new products.
Ensconced at CleanTech Park in the Jurong Innovation District, the 5,000 sq ft space will allow companies to “innovate and deepen their technologies, accelerate their product development process, scale their business and venture into overseas markets”, said Dr David Low, executive director of the Singapore Institute of Manufacturing Technology (SIMTech).
Called the Innovation Factory@SIMTech (IF@SIMTech), it offers SMEs access to new technology, design and engineering expertise, as well as facilities and equipment.
The space was opened by Second Minister for Trade and Industry Tan See Leng, who is also Manpower Minister, on Nov 17, and is the culmination of a three-year pilot programme spearheaded by Enterprise Singapore and the Agency for Science, Technology and Research (A*Star).
Since its inception in December 2020, the number of member companies has grown to 60, with 11 new products having been launched.
IF@SIMTech now offers a broader range of 3D printers for rapid prototyping, an expanded list of materials that companies can tinker with and support for electronic hardware design.
The breadth of assistance has also widened to include products in the sustainability, healthcare and wellness industries, whereas initially, only those in the precision engineering, industrial equipment, lifestyle and consumer sectors were supported.
Separately, three local companies have teamed up with A*Star to jointly commit $30 million for research and development that will create new business opportunities for these companies.
Each project is expected to last three years, with the companies sharing the cost of the funding with A*Star, which also provides talent and expertise through collaboration or secondment.
Among these companies is intra-logistics industry solutions provider M8M. With a joint investment of $11 million between A*Star and M8M, the collaboration hopes to develop an intelligent automated baggage-handling system that could capture new opportunities in the sector.
Armed with artificial intelligence-enabled computer vision, the system can analyse baggage and optimise the loading process before autonomous carriers move the baggage between the airport terminal and the aircraft.
Mencast, a regional firm that makes and repairs propellers and stern gear equipment for the offshore, marine and oil and gas industries, co-invested $10 million with A*Star to strengthen its technical and design capabilities, and offer more value-added bespoke products and services to its customers.
The combined investment of more than $9 million between Singapore-headquartered technology company Mirxes and A*Star aims to develop an agile, resilient and sustainable automated manufacturing line for in-vitro diagnostics products to detect diseases early.
When asked if A*Star gets a cut of the royalties for the products it co-develops, Dr Low said this was determined on a case-by-case basis, but that this was not the reason why A*Star is in the game.
“Ultimately, we want our local companies to do well because when they succeed, Singapore succeeds.”
