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“Innovation has been critical to how Singapore, a city state with no natural resources, grows and develops our economy and strengthens our social fabric,” he said.<\/p>\n
“In the next phase of development, we will put an even greater focus on innovation and partnerships.”<\/p>\n
SMU president Lily Kong added that the university is strengthening its industry engagement through formal collaboration and joint projects, while also expanding its international connections.<\/p>\n
Mr Hau Koh Foo, SMU director of the institute of innovation and entrepreneurship, said: “In a nascent ecosystem like Singapore, competition is a great way to incentivise action.<\/p>\n
“Participating in a competition will be easier (than applying for an incubator) and is a more fun way to get young entrepreneurs to take the leap.<\/p>\n
“If you look at start-ups, 90 per cent of them will fail because it is a very tough journey … they need all kinds of support to become successful.<\/p>\n
“This platform consolidates resources and all this can be available to the start-ups that participate.”<\/p>\n
More on this topic<\/h2>\n
iGlobe Partners managing partner Robert Chew, who was also the category finals head judge, said that sustainability is also a big theme for start-ups.<\/p>\n
“It is the topic of the times so the money is there. Start-ups will do well if they focus on solving some of these problems, such as green energy and urban farming.”<\/p>\n
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