Singapore, Your Global Technology Partner

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Singapore, Your Global Technology Partner Singapore, Your Global Technology Partner Enterprise Singapore Singapore Economic Development Board 23 May 2019 Introduction AGENCIES UNDER MINISTRY OF TRADE AND INDUSTRY Minister for Trade and Industry Minister-in-charge of Trade Relations Mr. Chan Chun Seng Mr. S Iswaran Economic Enterprise Singapore Singapore Tourism Board Sentosa Development Development JTC Corporation Corporation Board Department of Statistics Agency for Science, Competition Commission Energy Market Authority Technology and of Singapore Research Manufacturing % that each industry to GDP contributes the industry each that % Business Services 2018 GDP: Financial & Insurance S$487.1 bn (~US$359.7 bn) Wholesale & Retail 2018 GDP Growth: 3.2% Transport & Communications Construction & Utilities 2019 GDP Others growth forecast: 1.5% - 3.5% Source: Economic Survey of Singapore 2018, MTI GLOBAL LEADERSHIP POSITIONS Singapore – A globally competitive manufacturing hub AEROSPACE LOGISTICS MARINE ENGINEERING Close to 25% of the Asia- World’s busiest transhipment 50% global market share for Pacific MRO (maintenance, hub. high specs jack-up rigs. repair and overhaul) market. BIOMEDICAL SCIENCES ENERGY & CHEMICALS ELECTRONICS Top 5 export oil trading and Refining hub globally, with 6 out of the top 10 drugs are 1.38 million barrels of 40% of global hard disk media manufactured in Singapore. refining capacity manufactured. (source: BP Statistical Review) HOME IN ASIA FOR GLOBAL BUSINESSES Singapore: Strategic geopolitical location at the crossroads of Asia 36,400 international companies 6,700 Chinese and Indian companies Over 4,000 regional HQs of companies SINGAPORE’S RANKINGS Singapore is the top-ranked Asian country in the Global Innovation Index 2018 Labour Force Innovation Input Ease of Doing Business Logistics Performance in Asia Rank Country Rank Country Rank Country Rank Country 1 Japan 1 Singapore 1 Singapore 1 New Zealand 2 Singapore 2 Taiwan 2 Switzerland 2 Singapore 3 Hong Kong 3 USA 3 Sweden 3 Denmark 4 Republic of Korea 4 Switzerland 4 UK 4 Republic of Korea 5 China 5 Japan 5 Finland 5 Hong Kong Source: World Bank’s Global Source: BERI’s 2018 Labour Force Source: Global Innovation Index Source: World Bank’s Doing Logistics Performance Index 2018 Evaluation 2018, Innovation Input Sub-Index Business Report 2018 * Singapore ranks 5th overall in GII 2018, outperforming Hong Kong, Korea, Japan and China. SINGAPORE’S CORPORATE TAX REGIME A GLOBAL HUB FOR INDUSTRY 4.0 & ADVANCED MANUFACTURING STRONG BASE OF IT & OT TECH PROVIDERS DEVELOPING PIONNEERING SOLUTIONS 40-man Global Pervasive 28-man Global Internet of McKinsey Lighthouse Digital Sensing Centre of Excellence Things Centre of Excellence Competency Centre 93-man Global Integrated 28-man IoT Development Industry 4.0 Centre of Controls & Information CoE Centre Excellence 42-man Software Industry 24-man IoT Analytics 10-man Global IoT Lab for Solutions Centre Competency Team Smart Filtration 50-man Global IIoT 95-man Global Innovation 81-man Global IoT Digital Co-Innovation Centre Centre for Machine Learning Services Centre of Excellence 18-man Industrial 29-man IoT Solution Centre of 60-man GE Asia Digital Cybersecurity Centre of Excellence Innovation Centre Excellence 500-man Integrated 10-man Industrial IoT Centre 50-man Global Digital Digitalisation Hub of Excellence Solutions Centre STRENGTHENING OUR R&D CAPABILITIES Research Innovation & Enterprise (RIE) Plan 2020 Developed and launched 2 Model Factories as platforms S$3.2B towards Adv Manufacturing & Engineering for awareness building and R&D innovation SIMTech Learning Factory Smart Factory @ ARTC Established new research programmes for Adv Mfg Industrial IoT Research Progamme on Cognitive & Secure Systems Industrial Internet Initiative (I3): Open Platform for Edge Tech Development SIRI IS AN INITIATIVE LAUNCHED BY EDB TO HELP CATALYSE COMPANY’S DIGITAL TRANSFORMATION EDB launched the Index and Assessment Matrix with TUV SUD back in November 2017. Since then, it has been piloted with over 220 companies. The Prioritization Matrix, the second tool under SIRI was developed with McKinsey, SAP, Siemens and TUV SUD to help companies architect their implementation roadmap. It will be launched in Hannover 2019 THE INDEX HAS 3 LAYERS 3 BUILDING BLOCKS, 8 PILLARS AND 16 DIMENSIONS BEYOND READINESS, SIRI HELPS COMPANIES PRIORITISE AND SET THE DIRECTION FOR DIGITAL TRANSFORMATION Copyright © 2017 Economic Development Board, Singapore. All rights reserved. LEADING MANUFACTURERS COMING ONBOARD DRIVE STRATEGIC INITIATIVES FROM SINGAPORE Launched its new Technology Centre and announced Launched a first-of-its-kind global Internet of Things Implement I4.0 solutions in its Singapore facilities, such that it is investing S$587 million in its future in initiative in Singapore 1) to digitalise its drones for site inspections, data analytics and Singapore over the next few years. This new centre will manufacturing plants 2) build a platform to enhance mechanization to support maintenance activities, and focus on developing new advanced manufacturing visibility and sophistication to the Group’s global setting up a wireless network that tracks where people technologies such as artificial intelligence, robotics, supply chain information management. and equipment are in the plant real-time. fluid dynamics and vision systems. Invested S$12 million to establish a iSmart Factory Opened a S$65 million Global Distribution Center in To transform its Fab 12i into a next-gen Smart project to testbed solutions in robotics, automation and Singapore, equipped with leading-edge Internet-of- Factory, UMC will embark on a series of smart factory software. The ambition is to yield a 20 to Things (IoT) technology. The center is one of the digitalization initiatives, which include establishing 1) 30% increase in productivity, with the aim of scaling world’s first IoT-enabled high bay Automated Storage a control tower to manage its operations remotely, these solutions in Meiban’s factories in the region. and Retrieval System that is built directly on top of the and 2) a big data platform to collect and analyse pallet warehouse. manufacturing data from various production processes. INDUSTRIAL TRANSFORMATION ASIA PACIFIC (ITAP) A HANNOVER MESSE EVENT – THE WORLD’S LARGEST INDUSTRIAL FAIR Singapore’s Startup Landscape Singapore’s startup ecosystem at a glance Increased entrepreneurial activity in tech sectors Increased venture funding activity & amounts Improved international standing 3,400 4,300 80 deals 174 deals Tech startups Tech startups US$136.4M US$1.37B (2012) (2016) (2012) (2017) #17 #12 Source: DOS Source: Pitchbook out of 20 cities out of 20 cities (2012) (2017) 4 Unicorns in SG Raised US$528m Received $1bn from Raised US$87m Sold for from IPO in HK in Alibaba for 51% in from Series C in ~ US$83m to Source: Startup Genome Global Startup Ecosystem Reports 2012 and 2017 2017 2016 and another 2018 Sekisui Chemical in $1bn in 2017 2018 100 incubators/accelerators helping startups 30 corporate incubators/ventures seeking 150 venture capital investors with regional scale in Asia innovation and technology opportunities presence in Singapore 18 Global startups and enablers can benefit from SG’s vibrant ecosystem 1. Benefit from 6. Leverage SG as a supportivegovernment Launchpad for policies and expansion intoAsia infrastructure Government GlobalEcosystem Partners 2. Benefit from the 5. Co-innovatewith mentorship and support local research and from international Incubators and innovation centres incubators / accelerators Accelerators IHLs andRIs 3. Leverage SG’s active 4. Pilot innovative solutions venture funding with leading corporates & landscape for government agencies as Investors investments and deal Corporates reference customers flow Benefit from supportive government policies… the brand and identity of our startup ecosystem Startup SG schemes … • Government co-investment initiative to co-invest with independent, • Entrepass (entrepreneur visa) to support foreign entrepreneurs to qualified 3rd part investors into innovative Singapore-based tech assess Singapore’s ecosystem startups • Investment Cap is up to S$2m for info-comms and tech startups and up to S$4m for deep tech startups (e.g. medical, advance manufacturing, clean technology) • Supports partners, primarily incubators and accelerators in strategic growth sectors • Multipliers help high potential startups through programs, mentorship and provision of resources (e.g financing) • Angel Investor Tax Deduction (AITD) for angel investors that provides a tax deduction of 50% at the end of the two-year holding period • Partners to have a unique value proposition, specific program and proven track record • Section 13H Tax incentive for approved venture capital and private equity funds that provides zero-rated tax relief for a period of up to 10 years in respect of gains arising from divestment of approved portfolio holdings Partnership Opportunities with Local Multipliers • Multiplier to Multiplier partnerships for startup exchange, possible bilateral funding for multipliers to develop new structured programs facilitating startup exchanges • Provides space at one of JTC’s Launchpads for startups and enablers to grow, experiment and flourish Infrastructure -For instance, the JTC Launchpad@one-north houses over 800 startups with over 40 nationalities Continuous Flow Community for Diversity of Of ideas, Innovation, Networks & Partnerships industries, Activities & Startups & Talent to Form Players 8 56,000 blocks sqm Blk Blk 67 Blk
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