Singapore: INFOCOMM Investments Pte Ltd (IIPL) and Cisco Systems Inc have signed a memorandum of intent to identify and nurture Singapore-focused startups to participate in the Cisco-Technopreneur Action Group, Platform Accelerated Startups (Tag.Pass) Smart Innovation Programme.
The programme will help startups create innovative applications using sensors, big data, analytics and the Internet of Things (IoT) across industry verticals like healthcare, the public sector, education, manufacturing and financial services, IIPL said in a statement.
IIPL is a wholly-owned subsidiary and the investment arm of the Infocomm Development Authority of Singapore (IDA).
Tag.Pass is IIPL’s pre-acceleration programme that helps aspiring entrepreneurs develop their minimum viable product (MVP), and prepare them for other acceleration programmes or work with corporate innovation teams, the agency said.
An extension of that is Tag.Pass Corporate Innovations, which this Cisco-Tag.Pass Smart Innovation Programme is modelled after, it added.
The partnership with Cisco “provides a beneficial platform for Singapore startups to gain access to Cisco’s global wealth of resources and access in smart city tech, such as the IoT,” said IIPL head Dr Alex Lin.
“Cisco is a great example of corporate co-innovation with startups that delivers strong value,” he added.
Selected startups in the Cisco-Tag.Pass Smart Innovation Programme will be eligible to participate in the Cisco DevNet, a community that provides developers with the tools, the resources, and the code needed to build innovative, network-enabled solutions.
They will also get the chance to visit Cisco’s implementations for Smart Cities around the world, and have access to Tag.Pass’ development platform training, domain knowledge sharing, networks, mentorship and coaching from domain experts or other entrepreneurs.
In addition, they can apply to participate in an exchange programme to co-innovate with Cisco at the Cisco Barcelona IoT Centre in Spain. These companies can then apply for IIPL’s international exchange programme, to learn about Singapore’s startup ecosystem and meet mentors.
“I was particularly pleased to see a Singaporean startup, Subnero, make it to the finals at the IoT World Forum in Chicago,” said Thiam Guan Ang, managing director for Cisco in Singapore and Brunei.
“This collaboration with IIPL will provide opportunities for participants with successful pilots to work with us on projects, reinforcing our country’s position as a Smart Nation, with smart businesses, people and government,” he added.
Over the last 10 years, Singapore has invested more than US$22 billion in research and development to help companies develop, test and commercialise new products and solutions, IIPL said.
Public sector investments have supported about 400 tech startups and generated 800 licences over the last four years, it added.