IDA works to stimulate sophisticated demand in the government, business and people sectors as well as sustain investment in manpower and infrastructure, Khaw said.
Co-innovation in the Singapore ICT industryIn recent months, IDA has facilitated co-innovation platforms with Global Lead Users driven in part by the need of global corporations to better leverage ICT for competitiveness and differentiation. Citibank, for example, has worked with IDA to set up a Citi Global Transaction Services (GTS) Centre of Innovation to develop innovative decision support services with local business analytics and user ICT companies.
According to Khaw, Citibank worked to provide Singapore ICT companies with opportunities to share their capabilities and to support them for prototyping, and productisation provides the opportunity for these technologies to be eventually deployed for its business globally. “We believe Singapore, being home to 7,000 MNC regional headquarters, plays an important role to encourage co-innovation.