IDA said on Wednesday at CommunicAsia 2015 that the Smart Nation drive is creating an environment that provides new growth and market opportunities for businesses in Singapore.
Steve Leonard, IDA's executive deputy chairman, noted that Accreditation@IDA helps young innovative Singapore-based technology companies build their credentials, and to be in a better position to win projects by government agencies and large enterprises.
Eight companies have been accredited in less than a year since the initiative took off in July 2014. Of the eight accredited companies, KAI Square and Inspire-Tech have successfully won two new government projects, and three more projects are undergoing final evaluation. These are estimated to be worth more than S$1 million.
Separately, the first major phase of the Multi-Tier Cloud Security (MTCS) Singapore Standard (SS) 584 has been completed and 13 Cloud Service Providers (CSPs) are now certified across different tiers.
The MTCS standard is the world's first cloud security standard that covers multiple tiers of cloud security. It can be applied by CSPs to meet differing cloud user needs for data sensitivity and business criticality. An IDA spokeswoman said in Singapore's drive to become a Smart Nation, such security clarity is a key part of building trust through transparency as cloud grows in importance.