Singapore is boosting innovation ventures between companies and start-ups with the launch of the KPMG Digital Village.
This symbiotic ecosystem brings innovative ideas to life from scouting, mentoring through to helping start-ups develop solutions for business integration.
The KPMG Digital Village is dedicated to providing innovative solutions to corporate clients out of KPMG's innovation network, venture capitalists (VCs) and research institutions.
It includes links with institutes of higher learning and available government resources to complete the ecosystem.
"Our Digital Village programme is the heart of a digital future, powered by collaboration between all significant players in the ecosystem," said Lyon Poh, head of Digital + Innovation, KPMG in Singapore. "It will help start-ups to further accelerate and grow to the next stage and equip corporate clients with the latest innovation technology. More so, it will facilitate the adoption of innovation and technology by Singapore businesses, to grow and be competitive at an international level."
The KPMG Digital Village addresses the need for an innovation ecosystem that incubates, accelerates new ideas, and also commercialises them.
Although several schemes exist to support innovative start-ups from concept to early funding, Singapore can do more to bridge the gap between ideation and the commercialisation of innovation.
Powered by collaboration between all significant players in the ecosystem, the new Digital Village programme will facilitate Singapore businesses to grow and be competitive at an international level.
"Our experience is that commercial innovation activity often lacks adequate management support to reap tangible outcomes. Whether it's a small local enterprise or a large multinational company, many are often too focused on achieving marketing benefits," added Poh.
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