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KPMG opens Digital Village in Singapore to help corporates reach out to startups
KPMG Singapore has launched an initiative which will allow its corporate customers to tap the creative skills of startups in order to get access to innovative solutions. Called the KPMG Digital Village, it will be what a company spokesman describes as a symbiotic ecosystem matching, "fostering and forging innovation ventures between companies and start-ups".
Lyon Poh, KPMG Singapore's Head of Digital + Innovation, said the company is using a "challenge-focused approach" in the Digital Village. It helps to bring innovative ideas to life from scouting, mentoring through to helping startups develop solutions for business integration, he added.
To drive the innovation agenda for businesses, the Digital Village provides innovative solutions to corporate clients out of KPMG's innovation network, venture capitalists (VCs) and research institutions, and includes links with institutes of higher learning and available government resources to complete the ecosystem.
Mr Poh said its creation is in response to calls by industry leaders for an innovation ecosystem that not only incubates and accelerates new ideas, but also commercialises them.
He added: "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.
"Our Digital Village programme ... will help start-ups to further accelerate and grow to the next stage and equip corporate clients with the latest innovation technology."