EDB raises $100mln for urban solutions

Singapore-based 'living labs' to address urban challenges and to facilitate private and public sector tie-ups.

The Singapore Economic Development Board (EDB) has started a S$100 million fund to help Singapore businesses tap future demands in the area of urban solutions. These include innovations in areas such as clean energy, urban mobility, IT and public safety systems -- ideas and solutions that address the 'global megatrend' of rapid urbanisation, according to an Enterprise One report.

The goal is to facilitate private and public sector tie-ups and test-bedding opportunities that will help Singapore businesses develop an early advantage in an area that is likely to see intense global demand in the near future.

With this initiative, EDB hopes to 'create businesses for the future' by identifying 'lead demands', create and test-bed solutions and find synergies with other larger companies. The ultimate goal is to bring Singapore-developed urban solutions into the international market. Some early success stories include players such as PUB, Hyflux and Black & Veatch's collaboration on the SingSpring desalination plant.

The fund also hopes to encourage local firms to redesign existing systems for tropical urban uses.

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