An interesting read. Three MNCs take the lead in driving growth...

An interesting read.
Three MNCs take the lead in driving growth through collaboration to benefit 80 local SMEs over one year

1. Three MNCs were recognised for their efforts in driving technology innovation through collaboration with local SMEs, at the “Synergy through MNC-SME Collaborations : Fostering Growth in the Electronics Industry” event graced by Minister of State for Trade & Industry, Mr Teo Ser Luck at Nanyang Polytechnic today. Intel, National Instruments and NXP will each be working with leading local SMEs through dedicated headcount to oversee these projects supported by SPRING Singapore’s Partnerships for Capability Transformation (PACT) initiative.

2. National Instruments and NXP will each appoint one manager, and Intel two, towards overseeing the collaborative projects with SMEs, and receive support from SPRING for these PACT managers. The projects will focus on emerging areas in electronics such as Machine to Machine (M2M) solutions, smart lighting, and Near Field Communication (NFC). By developing capabilities in these technology areas, MNCs and SMEs alike will be better able to serve the needs of the many customers along the value chain.

3. Through these partnerships, SMEs will also be given access to valuable networks and programmes such as National Instrument’s Global Alliance Partner Network and Intel’s Galileo University Programme. Earlier this year, NXP hosted a delegation of SMEs co-led by SPRING and the Centre of Innovation for Electronics (COIE) at its headquarters in Eindhoven, Netherlands to share about their technologies and projects in Europe. The global exposure and contacts gained by the SMEs can help them penetrate new markets and raise their international profile.

4. Mr Gregory Bryant, General Manager of Intel Corporation, Asia-Pacific and Japan Region said, “At Intel, we are committed to working with Singaporean companies to help the world become smarter, more connected and more efficient. Boosting the capabilities of local SMEs and their ability to develop new technologies and solutions for the Internet of Things will help to put Singapore at the forefront of this new wave of innovation.”

5. Mr. Chandran Nair, Managing Director of National Instruments, Southeast Asia said, “With a large number of enterprises in Singapore being SMEs, they play a pivotal role in shaping Singapore’s economy and progress. NI is committed to empower SMEs with the technology platform and knowledge to overcome technical complexity in order to bridge the gap between vision and reality, and bring their ideas into fruition. We are honoured to be part of the innovation ecosystem with SPRING Singapore to help local SMEs establish domain competencies, create local intellectual property and bring about sustainable innovation and prosperity.

6. Mr. Simon McLean, Vice President of Sales and Marketing, NXP Semiconductors, South Asia Pacific Region said, “Connectivity between the many electronic objects in our everyday lives will bring greater convenience and efficiency as well as new experiences in the home and office, to our health and in transportation and logistics and must also occur smoothly and securely. This unscripted opportunity will only happen with deliberate and powerful collaboration between MNCs and SMEs, sharing technology and innovative ideas to transform ‘Internet of Things’ concepts to tangible applications which will benefit our society. NXP’s mission is to provide secure connections for a smarter world and we are committed to achieving this in conjunction with our Singapore SME partners.”

7. Mr Simon Lim, Group Director of Industry Development, SPRING Singapore said, “SPRING is delighted that Intel, National Instruments and NXP Semiconductors have taken the lead in forging these synergistic collaborations with our local electronics SMEs. SPRING will continue to support such co-operation between large and smaller players in the market, for the co-creation of new business opportunities. We hope to see more large organisations across industries step forward to tap on the capabilities of our local SMEs and build a strong network of resources.”

8. The PACT initiative aims to foster mutually beneficial collaborations between large organisations and SMEs, by supporting projects that involve partner development, knowledge transfer and co-innovation. SMEs are eligible for up to 70 per cent funding support for qualifying project costs, while large organisations may consider hiring a PACT manager to drive such collaborations under the initiative.

9. The “Synergy through MNC-SME Collaborations: Fostering Growth in the Electronics Industry” event was organised by the COIE to raise awareness of the emerging technologies in the electronics sector and enable SMEs to build niche capabilities through collaboration.