A scheme that sees government vouch for startups to help them win public sector tenders has now expanded to the private sector.
The Infocomm Development Authority today signed agreements with infrastructure consultant Surbana Jurong and property group Lendlease, which will help accredited companies partner with these firms on big tenders.
Accreditation@IDA selects local startups and puts them on a fast track to win contracts from government agencies, along with mentoring and support to help them scale. Today’s agreement will allow them to win participation in infrastructure projects outside of Singapore, including across Asia, Africa, Australia and Middle East.
One of the biggest challenges faced by tech startups is competing with established companies to win tendering opportunities, especially from government and large companies with complicated processes. AIDA sees government vouch for the efficacy of the startups, and help them compete on a more level footing.
“Partnerships such as with Surbana Jurong and Lendlease help companies seize new opportunities not only in Singapore but globally as well. We look forward to securing more partnerships with industry players to help companies innovate, grow and contribute to Singapore’s economy,” said Gabriel Lim, co-Managing Director, Infocomm Development Authority of Singapore.
Surbana Jurong is already in talk with two IDA accredited companies – Evercomm and Sense Infosys – to explore data and energy analytics for smart city projects. Meanwhile, Lendlease is looking to trial video analytics and energy management tools.
Accredited companies have won 41 government contracts since the programme was launched in 2014. A@IDA has worked with 83 government agencies in the country, with a pipeline of projects worth S$45 million.
Also read: Inside Singapore’s Startup Laboratory