Innovation is key in helping SMEs: MTI

Food security and healthcare are also key fields for innovation.

Innovation is key to the growth of SMEs, achieving food security, and transforming the healthcare industry, experts said during the launch of TechInnovation 2021.

“It is increasingly important for our enterprises to collaborate, innovate, and seize opportunities," said Tan See Leng, Second Minister for Trade and Industry, adding that events such as TechInnovation could help SMEs and start-ups learn from each other and explore new collaborations.

Tan also guaranteed that the Singapore government currently has the resources to set up a strong innovation ecosystem.

Wong Lup Wai, CEO of IPI, talked about how this innovation would be beneficial in pushing for food security. IPI is a subsidiary of Enterprise Singapore that handles the acceleration of innovation through advisory services and connections with the global innovation economy.

“The role of innovation will be instrumental in addressing a host of complex issues surrounding food security–ranging from alternative food sources, food waste and sustainable farming methods, all whilst meeting the nutritional needs and demands of today’s consumers,” Wong said.

Tan Chorh Chuan, executive director of the Ministry of Health (MOH) Office Healthcare Transformation and first chief health scientist at the MOH, also reiterated how innovation can be essential for the transformation of the industry.

“The role of innovation will be instrumental in addressing a host of complex issues surrounding food security – ranging from alternative food sources, food waste and sustainable farming methods, all while meeting the nutritional needs and demands of today’s consumers,” the MOH executive director said.

TechInnovation 2021 aims to bring together international technology providers and enterprises for the adoption of technologies, seed licensing opportunities and innovation collaborations. It will run from 28 to 30 September.