In today’s competitive economy, the ability to think different, to be creative and in relation to the subject matter – to be innovative can determine the success or growth of a business, a region or a country. Ranking on the top for strategies of success is innovation and I know it is the biggest challenge exclusively within the business.
Businesses and universities in our region have come together for ‘knowledge transfer’—working together to solve technological & commercial challenges for mutual profit & success.
Citing examples of Fong Yit Kaya and Cacao Gourmet & Premiums.
Fong Yit Kaya engages Singapore Polytechnic(SP) students to develop a healthier version of kaya, the traditional coconut and egg spread. Students from the Diploma in Chemical Process Technology, Food Technology option, had created an authentic kaya with about 25% less sugar, fat and cholesterol yet retaining the familiar rich taste. It was awarded the Healthier Choice label by the Singapore Health Promotion Board and are available on supermarket shelves.
Cacao Gourmet & Premiums embarks on a new venture to manufacture and market inulin-infused chocolates developed by Singapore Polytechnic. Inulin is a plant fibre that helps promote the growth of good bacteria in the intestines and improve digestion. The company received halal certification from Majlis Ugama Islam Singapura (MUIS) which enables it to tap the vast affluent Muslim consumer markets in the region, Middle-East and beyond.
- www.sp.edu.sg
Citing examples of Fong Yit Kaya and Cacao Gourmet & Premiums.
Fong Yit Kaya engages Singapore Polytechnic(SP) students to develop a healthier version of kaya, the traditional coconut and egg spread. Students from the Diploma in Chemical Process Technology, Food Technology option, had created an authentic kaya with about 25% less sugar, fat and cholesterol yet retaining the familiar rich taste. It was awarded the Healthier Choice label by the Singapore Health Promotion Board and are available on supermarket shelves.
Cacao Gourmet & Premiums embarks on a new venture to manufacture and market inulin-infused chocolates developed by Singapore Polytechnic. Inulin is a plant fibre that helps promote the growth of good bacteria in the intestines and improve digestion. The company received halal certification from Majlis Ugama Islam Singapura (MUIS) which enables it to tap the vast affluent Muslim consumer markets in the region, Middle-East and beyond.
- www.sp.edu.sg
SPRING Singapore’s Technology Enterprise Commercialisation Scheme (TECS) can provide the vital support and resources for start-ups and SMEs in need of help to convert innovative ideas into promising businesses. TECS will assist in the early gap of funding throughout the various development stages, prototyping, securing third party funding and enabling the enterprise to achieve growing revenues.
TECS is a competitive grant in which proposals are ranked based on the evaluation of a team of reviewers. Under Proof-of-Concept (POC) upon which successful submission of applicant’s proprietary technology ideas - support of up to 100% of *qualifying costs for each project will be funded, up to maximum of S$250,000.
Under Proof-of-Value (POV) upon which successful applicant who is keen to carry out further R&D on a technology project, including the development of a working prototype, support of up to 85% of *qualifying costs for each project will be funded, up to maximum of S$500,000..
*Qualifying costs include: Manpower-related costs, Professional Services, Equipment/ Software, Intellectual Property Rights, Materials & Consumables and Other Operating Expenditure.
The applicant will then present his proposal to the Technical panel, which comprises of representatives from successful entrepreneurs with relevant business and technical experience, business angels, venture capitalists and industry executives. The panel’s evaluation will focus on the commercial merit and the competency of the applicant to carry out the project before investment from a third party is awarded.
SPRING Singapore also provide easy access of ready resources at its Centre of Innovation. The following one-stop centres offer technology consultancy and advice, develop the practical platforms that businesses can quickly adopt and it also help to test and develop technology projects.
Food Innovation Resource Centre at Singapore Polytechnic
Food Innovation Resource Centre at Singapore Polytechnic
Areas of focus: food safety and hygiene, food processing to improve existing product lines, development of new products, and packaging and shelf life evaluation
Areas of focus: design and analysis of marine inspection and testing equipment, and offshore construction and processing equipment
Areas of focus: water and wastewater treatment and remediation, alternative energy and energy management, monitoring and instrumentation control, and air pollution control
Areas of focus: ultra-precision machining, forming, thin film coating, RFID and intelligent manufacturing systems, mould design and simulation, and automotive, aerospace and medical technologies
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