9 startups apply to IDA scheme that helps homegrown firms bid for Gov projects

9 startups apply to IDA scheme that helps homegrown firms bid for Gov projects

SINGAPORE - Homegrown technology startups will be considered first over more established firms for government projects under a new scheme and nine startups have already applied for this.

Get the full story from The Straits Times.

Here is the official statement from Infocomm Development Authority of Singapore (IDA):

First-Ever Accreditation@IDA Goes Live To Grow Singapore-Based Tech Start-Ups In A Smart Nation

Announced in April this year, the new Accreditation@IDA programme went live this month to high anticipation by the Singapore tech industry. Companies that apply for accreditation will undergo technical, financial and operational evaluation to ascertain their product's core capabilities and claims, their sustainability and ability to deliver as promised. Accreditation@IDA will help these innovative tech start-ups build their credentials and be in a better position to win projects by government agencies and large enterprises.

"Singapore is building the world's first Smart Nation, and one of IDA's key focus areas is to build Singapore-based tech-product start-ups. Through our large network of investors, high-potential start-ups here already have access to funding, so our main focus is helping those start-ups win real projects. This helps them generate revenue and also refine their products."

"We set up the Accreditation@IDA to help start-ups win real projects from government and industry buyers, where accredited companies will be considered first for various innovation-focused government projects and industry collaborations. We look forward to see the 'IDA Accredited Product' mark on high-potential Singapore-based tech-product start-ups very soon," said Steve Leonard, Executive Deputy Chairman, IDA.

To enhance market opportunities for accredited companies, IDA has worked on two fronts - adopting a Whole-of-Government (WoG) approach to facilitate procurement; and working with strategic industry partners to leverage their expertise and networks - to support these tech start-ups.

On the WoG front, accredited companies will be considered first, where relevant, for innovative tech government projects. In addition, the accreditation status can now be considered in place of the Government Supplier Registration status for the equivalent supplier's tendering capacity in government tenders. An initial estimate of 60 projects from agencies in the areas of analytics and security could be relevant for the accredited companies over the next two years.

Separately, IDA has inked strategic partnerships with industry players, namely Amazon Web Services, CrimsonLogic, Fuji Xerox Singapore, S & I Systems, Intellectual Property Office of Singapore and the Nanyang Polytechnic. These partners give preferred access to accredited companies to their customers, resources and also provide systems integration support, domain knowledge and capability development. IDA will continue to seek suitable partners who can add value to and support the growth of accredited companies and their contribution towards Singapore as a Smart Nation.

The programme has been well received since its launch. To date, more than 20 companies have expressed interest and nine applicants are currently undergoing accreditation. The products are mainly in domains such as data analytics, mobility and security.

The accreditation status will be valid for 18 months and accredited companies will be reviewed by IDA to ensure the validity of the status. Accredited companies will be able to use the 'IDA Accredited Product' mark in their commercial and marketing materials during this period.

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