SMALL and medium-sized enterprises (SMEs) can now capitalise on new technologies developed by established companies without having to spend big on research and development.

Companies can license technologies on www.exploit-ip.com, launched recently by A*Star agency Exploit Technologies. The agency has roped in 15 research institutes, universities and multinational corporations to spread innovations through its site.

The initiative is a huge cost-saver for SMEs.

Home-grown ARB Technologies, which does product design and manufactures computer parts and peripherals, estimates that it will shave 30 per cent to 50 per cent off its development costs.

Chief executive Robin Low said developing technologically superior products was the only way to defeat market competition.

'If not, we have no other way to beat our Asian competitors who have a larger market share, cheaper manufacturing costs and more industry experience,' said Mr Low.

ARB Technologies, with five staff members, has found a match on the site. It is in talks with German research institute Fraunhofer-Gesellschaft to collaborate on product development.

Another SME, Mediaonline Solutions, a start-up dealing in interactive digital signage, intends to hop onto the portal for another reason: company and product identity.

Mr Dennis So, a partner in the firm, hopes to develop a unique product by adopting technologies that suit his business.

'Right now, our product has no real identity, with parts taken from a few suppliers,' he said.

He added that the concept of open innovation was something that even big companies could benefit from. 'Many major companies, comfortable and focused on their products, do not explore what else is out there.'

It is just those sort of companies that Exploit Technologies wants to focus on.

Executive chairman Boon Swan Foo said the Exploit Technologies team 'has, for the past years, been working closely with local companies to understand their technology needs'.