Innovation centre to develop Singapore as base for advanced manufacturers

Singapore

AN innovation centre aimed at boosting the competitiveness of Singapore's electronics and advanced manufacturing sector was launched on Tuesday at Changi Business Park.

The PlanetSpark Innovation Centre plans to nurture Singapore-grown hardware technology startups in the artificial intelligence (AI) and Internet of Things (IoT) sectors.

The centre was developed by mainboard-listed electronics components distributor Excelpoint Technology, in a two-year collaboration with Enterprise Singapore.

Both parties will pump in an initial investment of S$5 million to grow more than 30 startups over the next three years, said PlanetSpark's managing director Phuay Li Ying.

Through PlanetSpark, companies can accelerate their product development journey and deliver a proof-of-concept within six months. Startups pay S$20,000 to participate in the accelerator programme, with Enterprise Singapore subsidising up …