Mrs Tan Ching Yee, Chief Executive Officer Infocomm Development Authority of Singapore Speech - Launch of IDA-System Access Overseas Development Programme, The Ritz Carlton, Level 2, Millennia 3
Mrs Tan Ching Yee, Chief Executive Officer
Infocomm Development Authority of Singapore
Speech - Launch of IDA-System Access Overseas Development Programme, The Ritz Carlton, Level 2, Millennia 3
Singapore, 8 March 2004
Mr Leslie Loh, Chairman and Founder, System Access Pte Ltd,
Distinguished guests
Ladies and Gentlemen,
Introduction
1. Thank you, Leslie, for inviting me to be here today.
2. I am happy to see how System Access has grown in the past 10 years from a fledgling one-man setup to a 350-strong company. Armed with experience and expertise, it is starting to guide other local companies to explore new territories.
3. From its first product, developed with funding support from the National Computer Board (NCB), System Access has come very far. It is the first software company to be listed amongst the top 5 in the E50 Enterprise awards.
Sowing the Seeds of Innovation
4. Recognising the value of early support for innovations, IDA has continued to support local Infocomm companies in the development of new ICT products and services. In 2003, 40 local companies received funding under various grants and schemes, and 28 products and services have been developed.
5. In response to feedback from local companies that they benefit most from getting references through the delivering government projects, the IDA bulk tender for IT applications development and maintenance was recently fine-tuned, Rather than call for bids in an omnibus category called "Application Development and Maintenance for IT Projects Not Exceeding S$0.5 million", IDA allowed bids to be made in 5 sub-categories within this larger category - web-based applications, wireless or mobile-based applications, public service infrastructure (PSi) applications, geographical information system applications and software, and general IT application development and maintenance.
6. The expanded categories allow more local companies, with specific expertise and track record, to participate. Last month, 20 local companies were among the successful bidders in the bulk tender. This means they will now have a chance to undertake government IT projects. In the next two years, if they can successfully secure a few government projects, they can establish a track record in e-government projects and use these projects as reference sites when they export their solutions beyond Singapore shores.
Growing Beyond Singapore
7. IDA has been facilitating companies to tap growing markets like China, India, Thailand and Vietnam. Over the last year, IDA's overseas market access efforts have generated more than 290 leads, resulting in potential contracts worth up to S$60 million1 for the companies.
Clustering to Scale New Heights
8. To further accelerate overseas market access, IDA launched the Overseas Development Programme (ODP) in March 2003 to help enhance the overseas market position of Singapore-based iLEs through win-win partnerships with Multi-National Corporations (MNCs). The ODP prepares iLEs to be globally competitive, boosts their capabilities and enhances their overseas market position by tapping on the MNC's R&D resources and business networks. Since its inception, a total of 15 local companies have participated in this programme. Building on the strength of ODP, these companies have gained rapid access to key overseas markets such as the US, China, Korea, Middle East, Africa and Europe. The target is for 50 iLEs to achieve export revenue of up to S$50million over the next two years.
9. Today, I am pleased to welcome System Access as the first Singapore company to be an ODP partner. This signifies the coming-of-age of our programme and, most importantly, of the local infocomm industry. We see the evolution of a local company, from start-up, to playing 'big brother' to other home-grown companies in their overseas expansion.
10. System Access as an ODP partner, will lead financial services companies, namely Fairex, Comex, BCSIS and Focus5, to break new grounds. Each of the partners provides solutions that meet the needs of different aspects of the financial sector. By joining forces, they offer customers best of breed complete solutions, thus enhancing the overall chances of the cluster to clinch new deals.
11. I wish you all the best in your overseas ventures. May your ventures be successful and profitable!
12. Thank you.
Notes:
1 Figure Breakdown: S$12 million are confirmed deals; S$48 million are from pipeline projects.
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