4 days ago
Singapore SMEs can tap Japanese technology for innovative solutions
[SINGAPORE] Small and medium-sized enterprises (SMEs) can work with Japanese giants to find applications for innovative technology or develop new solutions together, under an initiative that is now in its second year.
The second Japanese Corporates Technology Innovation (JCTI) Launchpad networking event on Thursday (May 29) featured six Japanese multinational corporations (MNCs) – one more than the inaugural event in 2024.
Returning for a second year are electronics manufacturers Ricoh, Panasonic and Nisshinbo; Mitsui Chemicals; and packaging maker Toyo Seikan Group.
They are joined by adhesive maker Nitto Denko, which is seeking partners for a stress-monitoring smart watch.
Nitto Denko was one of four participants showcasing 'co-development-ready' technology and intellectual property (IP) – innovations that have been developed but need to be tested or applied.
The companies are therefore seeking Singapore SMEs as proof-of-concept partners.
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Nisshinbo and Toyo Seikan did not give details of specific technologies, but attended to network with local SMEs and seek potential partnerships.
Since the JCTI Launchpad began last year, eight projects have been formed across sectors such as sustainability, chemicals and communications.
Matching innovation and application
The JCTI Launchpad event this year is organised by Enterprise Singapore subsidiary Innovation Partner for Impact (IPI), the Japan External Trade Organization (Jetro) and business consulting firm N9.
It aims to match advanced technologies from Japan with Singapore companies who can put them to good use.
In a media release, the organisers noted that Japan has a wealth of IP, yet many corporate technologies are underutilised – while Singaporean companies and startups are looking for unique technologies but face challenges in adapting and accessing them.
Under the JCTI Launchpad, Singapore SMEs can license or source technology from the MNCs, or work together to co-develop solutions.
'It is heartening that our Japanese partners are generous with sharing their technologies and know-how with our local SMEs,' said IPI chief operating officer Michael Goh.
'The beauty of working with diverse corporations across different industries is the diverse types of technologies our SMEs can access,' he added. IPI helps local SMEs collaborate with technology providers, research institutions, and other companies.
For example, local water treatment supplier Bioflux is partnering Panasonic to develop a coating that prevents algae and scale from forming on cooling towers and chillers.
Bioflux managing director Michael Ng said: 'As Panasonic is a huge company, we hope this collaboration will allow us to work more closely with them and develop better water treatment services for Singapore.'
Nitto Denko's senior business development manager Sugihara Takaya noted that the technology in Singapore 'is more mature and comfortable to work with', adding: 'We hope that Singapore can be a stepping stone for us to reach out to other regions in the future.'
The company has embedded optical sensors and 3-axis acceleration sensors into a wristwatch, allowing it to track the wearer's stress level.
It is looking for partners that can either diversify the type of wearable devices using this technology; diversify algorithms to enhance the application of data; or expand business channels in healthcare across Asia, the US and Europe.
