The National Innovation Challenges (NIC) harness Singapore’s innovation capabilities to help businesses adapt to the New Normal.
Building on existing open innovation efforts from Enterprise Singapore’s Gov-PACT and IMDA’s Open Innovation Platform (OIP) as well as the National Research Foundation’s R&D investments, the NIC initiative provides support for the development, deployment and adoption of solutions to address nationwide challenges, as well as medium- to long-term solutions for businesses to emerge stronger in the post-COVID environment.
NIC problem statements are a new category of open innovation challenges that focus on developing industry-led solutions to challenges that all businesses grapple with. Starting areas of focus include how we can reopen Singapore safely – to achieve safe workplaces, homes, schools and commuting.
NIC provides a common open innovation platform for government agencies, Research Institutions, Trade Association & Chambers (TACs), corporates, SMEs and startups. Through NIC, challenge owners can gain access to a diverse pool of solvers with cross-industry expertise. Solution providers will also receive support and potential funding to develop and deploy their solutions into the market swiftly. S$40 million in funding has been dedicated to the NIC to ramp-up the development and adoption of solutions, where each challenge is allocated up to S$2 million.
For more information, click HERE.