Nanyang Technological University (NTU), Enterprise Singapore, a statutory board under the Ministry of Trade and Industry and the Sustainable Energy Association of Singapore (SEAS) have come together to support small and medium-sized enterprises as well as start-ups for their innovation and growth in the competitive energy sector.
All these organizations have joined forces to start a new one-stop hub called EcoLabs Centre of Innovation for Energy (EcoLabs), which was launched on Tuesday, April 16 by Chee Hong Tat, Senior Minister of State for Trade and Industry and Education. This is Singapore's ninth Centre of Innovation and the first for the energy sector.
As per a news release, the EcoLabs will assist those companies to grow and develop their clean energy-related innovations and business ideas and to commercialise them into technologies, which will be helpful for the industry as well as society.
EcoLabs is expected to provide small and medium-sized enterprises (SMEs) and start-ups with multidisciplinary technical support, most advanced research equipment and access to the latest scientific research in clean energy.
The national-level centre will work with corporate partners as well as investors to deliver companies with maximum 30 public and private sector test-bedding sites, including high-tech lab facilities to specialised test centres to safely put on trial their ideas and innovations in a controlled environment.
The NTU President, Professor Subra Suresh, believes that the innovations by SMEs and start-ups will help the country to bring value to the Singapore economy and will create new job opportunities.
The Deputy Chief Executive Officer of Enterprise Singapore, Ted Tan stated that "by mobilising resources within the academia, industry association, and both the private and public sectors, we hope that SEAS and EcoLabs will encourage more product development that meets the needs of users and accelerate the adoption of innovative solutions for the energy sector."
Since January 2019, 32 companies, including SMEs and startups have kickstarted collaborations with EcoLabs and it includes 14 corporate partners, who helped the local companies to understand the industry and market functions.
German automotive manufacturing company, Continental, Singapore's largest home-grown supply chain solutions company, YCH Group and a local real estate management firm operating private carparks, 1923 Pte Ltd are among those big names that have come on-board EcoLabs to support SMEs and start-ups.
