Singapore's infocomm sector is a key contributor to its economy. Revenues for the infocomm industry hit S$83 billion
1
, this represents a 18 per cent growth from 2010 to 2011.
Infocomm has greatly enhanced Singapore's competitiveness by raising productivity and transforming business processes. For five consecutive years, Singapore has been in the top three positions in the World Economic Forum's Global IT Report. In the latest ranking, Singapore was ranked fourth globally.
The Accenture's e-government study
2
, "Leadership in Customer Service: Delivering on the Promise", placed Singapore 1st among 22 countries, ahead of Canada and the United States of America.
Today, many top technology companies have made Singapore a key node in their global network, a strong testament of the country's strategic position to be a global infocomm hub.
One of IDA's key thrusts is to enhance the competitiveness of Singapore's infocomm industry; increase the technology depth of the industry and create diversity in our infocomm industry's structure and profile. IDA's roles are to develop a vibrant infocomm eco-system by helping infocomm companies tap into international markets, and in developing their capabilities. Our parallel efforts to help other key economic sectors use infocomm more strategically, would also in turn create demand and generate opportunities for Singapore-based infocomm companies.
Singapore's infocomm sector will continue to extend its wings to the overseas markets, in view of the limited size of the domestic market. Based on the Annual Survey of Infocomm Industry 2010, Singapore's infocomm export revenue has grown from $40.44 billion in 2009 to $46.62 billion in 2010. This accounted for 66% of our infocomm revenue.
Singapore is seen as a thought leader in the strategic use of infocomm for competitive advantages. Many local infocomm companies have matured over the years and had developed successful infocomm products and services. The infocomm companies had also developed domain expertise and project management experiences through working on the infocomm projects in Singapore, which serve as excellent reference sites for Singapore-based infocomm companies in venturing new markets. Many infocomm companies have in fact done well in their overseas ventures into markets like Botswana (South Africa), Pakistan, Eastern Europe and the Middle East.
Towards facilitating greater export successes for our infocomm companies, IDA has opened up offices in China, India, United States and Middle East to help open doors and facilitate local companies who are venturing overseas. The HQ in Singapore will also monitor the infocomm technology developments in the targeted regions and provide assistance and market intelligence to the infocomm companies. Our
internationalisation
efforts had helped to facilitate contracts for companies. IDA will continue to support companies to explore new markets.
Another channel to assist our infocomm companies overseas is the IDA's Overseas Development Programme (ODP). The ODP is a partnership-driven programme that serves as a key platform for local infocomm companies to team up with infocomm market leaders, i.e. multinational corporations (MNCs) or major local infocomm companies with established international presence, to tap into overseas markets beyond Singapore.
On top of IDA's efforts to help companies venture overseas, IDA also assist companies to strengthen their capabilities.
On this front, IDA has several programmes, including the Local Industry Upgrading Programme (iLIUP), which promotes strategic, mutually beneficial partnerships between Singapore's infocomm companies and infocomm multinational corporations (MNCs). In the spirit of win-win collaboration, iLIUP's underlying principle is the fostering of partnerships that result in enhancing local infocomm capability and competitiveness, and translating these into increased market share and revenue for MNC partners. Since 2002, this programme has helped local infocomm companies generate more than 500 new or enhanced products and solutions.
IDA has also encouraged companies to develop solutions in emerging technologies and services, such as Web services, RFID and business process outsourcing. We also have schemes that help companies develop innovative new products or to enhance their intellectual property.
IDA will continue with this effort to strengthen the capabilities of our local companies. IDA will be looking at building domain-specific capabilities in areas where Singapore has a good track record of successful infocomm implementation (e.g., e-Government, Digital Media and Entertainment, and Education). In addition, IDA will look towards strengthening our infocomm enterprises' technology depth in niche areas where Singapore can excel. Finally, IDA will also look at programmes to assist the industry in firming up their “softer†capability proficiency (e.g., business strategies, management capability and human capital and organisational processes).
With the convergence of media, telecommunications and computing, the
digital media and entertainment (DME)
sector has undergone rapid changes in the last decade. Digital media will pervade not only the entertainment industry, but also other sectors such as education, healthcare and lifestyle.
With a robust infrastructure, high-speed connectivity and a strong intellectual property rights regime, together with its strategic geographic location, Singapore is well-positioned to take advantage of the tremendous growth opportunities offered by the sector.
The government aims to develop Singapore into a global interactive and digital media capital, to help propel the country's economy forward and enhance the quality of life.
IDA aims to create a vibrant start-up ecosystem that provides opportunities for all players, including local and foreign start-ups, investors, venture capitalists and talents. Through its
programmes
, it supports the growth of the ecosystem and builds an entrepreneurial hub for all Singapore-based start-ups to thrive. Besides developing savvy start-ups ready for the world stage, IDA also works towards promoting Singapore as a key entrepreneurial and innovation hub for global VC-backed infocomm start-ups, as well as a launch pad for them to gain market traction in Asia.
1
Total Infocomm Industry Revenue 2000 - 2011
2
Details of the Accenture Report 2007 - Leadership in Customer Service: Delivering on the Promise
