Steve Leonard, executive deputy chairman at IDA, unveiling IDA's efforts that support Singapore's Smart Nation vision to the audience at CommunicAsia.
The Infocomm Development Authority of Singapore (IDA) has set aside S$15 million (US$12 million) for the iPACT (Partnership for Capability Transformation for the Infocomm Sector) programme in an effort to bolster the capabilities of the republic's tech industry.
Available from now till March 2017, iPACT encourages partnerships between large enterprises (also known as lead partners) and Singapore tech companies to enable knowledge transfer, capability upgrading, co-development and test-bedding, said Steve Leonard, executive deputy chairman at IDA, at CommunicAsia today (18 June 2014).
Some benefits of iPACT for local companies include gaining market inputs and requirements that will help them build a product with better market fit, as well as being able to leverage the lead partners' local and international sales and marketing network.
As for lead partners, iPACT will enable them to enhance their business offerings by bundling or adding new applications that are developed from the partnerships to their existing platforms or solutions. iPACT also provides them a chance to grow a base of local technology partners to support business needs.
According to IDA, there are currently four lead partners under iPACT: Microsoft Singapore, Motorola Solutions Singapore Pte Ltd, Razer (Asia-Pacific) Pte Ltd, and StarHub Pte Ltd. Under the scheme, each lead company is expected to work with at least three local companies in which the duration of the partnership is up to 24 months.
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