Partnerships in blockchain, cloud technology and smart logistics will enable companies to internationalise and collaborate in new innovation ecosystems
SINGAPORE/CHONGQING – 22 August, 2018: Singapore and Chinese technology companies inked their commitment to collaborate on international opportunities in the digital economies in western China and South-east Asia. They were in Chongqing to attend the inaugural Smart China Expo, one of the largest infocomm technology (ICT) events the Chinese government has organised.
At a media briefing organised today by Singapore’s Infocomm Media Development Authority (IMDA) at Smart China Expo, Memoranda of Understanding (MOUs) were signed by Singapore-based veriTAG, as well as by China-based iSoftStone and Rizon, to provide products and services using blockchain, cloud and smart logistics technology.
At the same event, Singapore-based app developer Fooyo and Chongqing Tourism Investment Group (CTIG) launched the “Ai Chongqing” tourist exploration App. The mobile app provides smart tourism solutions for the Chongqing tourism market.
iSoftStone, a leading Chinese software and IT services provider, signed MOUs with three Singapore companies to develop a virtual city in Chongqing. The Singapore companies are:
- G Element, which provides 3D solutions for unified management solutions of smart cities and buildings;
- Softfoundry International, which specialises in ubiquitous high-definition live video and multi-collaboration experiences; and
- Vi Dimensions, which has developed the ARVAS smart surveillance system powered by machine-learning and big-data analysis to protect cities and enterprises.
Rizon Technologies, a joint venture between Singapore’s Y3 Technologies and Chongqing Transport Group, signed MOUs to deepen smart supply chain capabilities with the following companies:
- FreshTurf, a Singapore-based company developing an open-source registry for parcels and consumer products on the Hyperledger blockchain;
- YUXINOU-Pacific Integrated Logistics Group Multimodal (YPL), to develop new and improved multimodal transportation technologies; and
- Chongqing Intelligent Logistics, to develop smart logistics technologies in China.
veriTAG, a Singapore-based cloud-tagging company known for its patented innovation using dual QR tagging and cloud authentication, signed four MOUs at the event in the areas of blockchain and supply chain partnerships:
- To develop with fellow Singapore company Morpheus Labs a blockchain laboratory and operation centre in Liangjiang New District, Chongqing
- To work with fellow Singapore company Reefic Protocol to provide a blockchain-based loyalty solution for hospitality rewards exchange;
- To establish a food chain alliance and create a global food ecosystem based on blockchain to share and maximise resources, in a collaboration with Reefic Protocol, Morpheus Labs, Y3 Technologies, Sakae Fintech and NULS.
Commenting on the partnerships, IMDA chief executive officer Tan Kiat How, said: “An international mindset is critical for Singapore tech companies that want to succeed in the digital economy, and IMDA is excited to support them as we strengthen links between the digital ecosystems in Chongqing and Singapore. We hope more Singapore companies will grow their business in Chongqing and western China, and also hope more Chinese companies will partner Singapore companies to grow in South-east Asia. We are also very heartened by the strong support by the Chinese government and companies, and look forward to working closely with them to grow business between our two digital economies.”
IMDA is leading a delegation of more than 40 Singapore ICT companies to Chongqing for Smart China Expo, held from 23 to 25 August, to explore business opportunities. It is IMDA’s largest delegation to China to date, and Singapore is one of two countries-of-honour at the event.
The trade mission offers Singapore companies opportunities to network with and partner Chinese companies to develop ICT innovations, form cross-industry ecosystems, and build their businesses in both countries as well as globally.
IMDA and the Chongqing Municipality Government will also jointly hold the Singapore-Chongqing Digital Economy High-Level Seminar during the expo. The seminar is a platform for both cities to share ideas and experiences in their Digital Economy journeys. Discussion topics will include smart city, tourism, fintech, and trade and logistics.
Among the Singapore delegation, 20 companies are exhibiting at the Expo, including Fooyo, aZaaS, veriTAG, Jing King, ST Engineering, and Handshakes. The Expo spans 150,000 sq m, with a 30,000 sq m plaza featuring smart technology innovations across diverse industries, including healthcare, tourism and logistics. Singapore’s two-tiered pavilion spreads over 1,400 sq m.
Related Resources
Appendix I: Partners’ Quotes (71.38KB)
ISSUED BY THE INFOCOMM MEDIA DEVELOPMENT AUTHORITY
About Infocomm Media Development Authority (IMDA)
The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation with infocomm media. To do this, IMDA will develop a dynamic digital economy and a cohesive digital society, driven by an exceptional infocomm media (ICM) ecosystem – by developing talent, strengthening business capabilities, and enhancing Singapore's ICM infrastructure. IMDA also regulates the telecommunications and media sectors to safeguard consumer interests while fostering a pro-business environment, and enhances Singapore’s data protection regime through the Personal Data Protection Commission.
For more news and information, visit www.imda.gov.sg or follow IMDA on Facebook IMDAsg and Twitter @IMDAsg.
For media clarifications, please contact:
Gerald LIM (Mr)
Senior Manager, Communications & Marketing, IMDA
DID: 6751-2769
Email: gerald_lim@imda.gov.sg
Andy CHEN (Mr)
Assistant Director, Communications & Marketing, IMDA
DID: 6751-2786
Email: andy_chen@imda.gov.sg
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