Innovation Institute expands to the Asia-Pacific region through a unique Joint Venture with a leading business consultancy in Singapore. The JV development is aligned to Singapore government’s strategy on innovation as announced in January 2016 on the RIE2020 plan and recently in April 2016 on the National Budget 2016. This JV will seek partnerships to help start-ups in new and emerging technology sectors, thereby supporting the drive to transform Singapore’s economy through enterprise and innovation.
The Innovation Institute’s expertise in innovations in science, engineering and technology has been brought together with ABBA Consulting, one of Singapore’s leading business support consultancy’s focused on developing and nurturing high tech/ high growth potential companies, to form NEF The Innovation Institute. The newly founded venture will use Singapore as the launch pad to take innovation strategy and capability development, certified training and accreditation to the rest of the Asia-Pacific region.
Jeremy Peh, Partner of ABBA Consulting said of the JV, “This is a great opportunity to build upon the strengths of our respective organisations, and to bring something new and entirely different to the field of innovation, something that this region has never seen before. It is just the right time for innovation - everyone understands the need and the importance of it for business growth. We have supported our clients in improving their business performance, but we know that innovation gives the business edge. With this new venture, we can offer our clients a greater range of opportunities to ensure they always stay ahead. We are looking forward to a great venture together.”
Prof Sa’ad Medhat, CEO of the Innovation Institute said, “We’re all excited by the prospects offered by this JV. The joining of forces gives our new venture NEF The Innovation Institute unprecedented experience and track record in the areas of entrepreneurial development, innovation process and strategy, IP planning, selection and monetization and innovation culture development. Our current product portfolio will be extended with new offerings designed to support the demands of the Asia-Pacific economies, as well as support the direct needs of Singapore’s government and their SG-Innovate initiative.”
The Innovation Institute team, led by Prof Sa’ad Medhat kicked off engagements with the Singapore business community with delivery of the Certificate of Professionalism in Innovation Practice course, which featured participants from high growth potential businesses. The course gave a quick fire immersion into all stages of the innovation process, including creativity and ideation, business model generation, proof of concept and implementation. One participant stated that it was ‘definitely a programme to support business development and entrepreneurs.’