CapitaLand and its industry partners commit up to S$10 million as a start to catalyse solutions development and deployment locally and overseas
Singapore, 28 October 2020 – The Smart Urban Co-Innovation Lab, Southeast Asia’s first industry-led lab for smart cities solutions development, initiated by CapitaLand and supported by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore (ESG), is officially opened today by Minister for Communications and Information, Mr S Iswaran. The Smart Urban Co-Innovation Lab will bring together leaders in the smart cities space to co-create and test innovations with local built environment and technology enterprises in a live environment at CapitaLand’s 5G-enabled Singapore Science Park. CapitaLand, together with its industry partners, has committed up to S$10 million in the Lab as a start to catalyse development and deployment of smart cities solutions in Singapore and overseas.
The Smart Urban Co-Innovation Lab, powered by the latest technologies and 5G connectivity, is set to benefit some 200 companies in Singapore over the next three years. Located at The Galen at Singapore Science Park, the Smart Urban Co-Innovation Lab is envisioned to be a key nexus of business partnerships and opportunities. The Lab will function as a resource integrator of various ecosystem players - local technology startups, system integrators and global corporate enterprises - to co-create solutions for smart cities, from ideation to testing to commercialisation. This collaborative model provides a platform for local and overseas companies to exchange ideas, identify opportunities for new business models and innovations, as well as facilitate deployment of smart cities solutions.
Currently, the Lab has secured 30 industry players such as Amazon Web Services, Cisco Systems, Johnson Controls, Microsoft, MooVita, NavInfo DataTech, Schneider Electric, SPTel, TPG Telecom and Vizzio.AI, to commit to partnering local firms to co-innovate, test ideas in the Lab or pilot trials at the 55-hectare Singapore Science Park, the largest site in Singapore for trials of smart cities solutions.
The Lab will focus on six key industry verticals of advanced manufacturing, digital wellness, intelligent estates, smart mobility, sustainability, and urban agriculture.
Mr Manohar Khiatani, Senior Executive Director, CapitaLand Group, said: “As one of Asia’s largest diversified real estate groups with a global portfolio and network of partners, CapitaLand is in a strong position to bring together key industry players to support Singapore’s drive towards building a smart city. T Singapore Science Park provides unique opportunities for collaboration and co-innovation with access to an ecosystem of innovators and thinkers, and the community of people working at the park and beyond. Our partners can potentially leverage CapitaLand’s significant scale by piloting their projects at our properties in Singapore and overseas. The Smart Urban Co-Innovation Lab is also part of our ongoing efforts to ensure that CapitaLand remains at the fore-front of technology developments so as to bring innovative and sustainable real estate products and services to our customers.”
Ms Jane Lim, Assistant Chief Executive, IMDA, said: “The Smart Urban Co-Innovation Lab reinforces Singapore's strengths as a deep innovation ecosystem where tech, industry and government work together to co-create and accelerate solutions for smart cities solutions. The Lab is starting strong with 30 partners including major industry players and promising local enterprises coming onboard along with CapitaLand. These are the new opportunities we are seizing in a digital economy, that will enable us to emerge stronger."
Ms Eunice Koh, Assistant Chief Executive Officer, Enterprise Singapore, said, “The COVID-19 pandemic has accelerated the demand for sustainable urban solutions that contribute to the building of resilient and safe cities of tomorrow. Through the Smart Urban Co-Innovation Lab, smart tech providers can work on innovative solutions that have the potential to change people’s lives for the better. For instance, Smarten Spaces, a Singapore SME tech provider introduced by Enterprise Singapore, has been working with KONE on unique innovations that use contactless and other technologies to help building owners and managers provide a safe work environment for their tenants and employees. We will continue to work with our SMEs to tap on such opportunities and find the right partners to scale their solutions.”
Please refer to Annex A for more information on features of the Smart Urban Co-Innovation Lab, Annex B for information on selected smart city projects at the Lab, and Annex C for the list of 30 partners of the Smart Urban Co-Innovation Lab.
JOINTLY ISSUED BY CAPITALAND LIMITED, INFOCOMM MEDIA DEVELOPMENT AUTHORITY AND ENTERPRISE SINGAPORE
About CapitaLand Limited
CapitaLand Limited (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered and listed in Singapore, it owns and manages a global portfolio worth about S$134.7 billion as at 30 June 2020. CapitaLand’s portfolio spans across diversified real estate classes which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential. With a presence across more than 220 cities in over 30 countries, the Group focuses on Singapore and China as its core markets, while it continues to expand in markets such as India, Vietnam, Australia, Europe and the USA.
CapitaLand has one of the largest real estate investment management businesses globally. It manages seven listed real estate investment trusts (REITs) and business trusts as well as over 20 private funds. Since it pioneered REITs in Singapore with the listing of CapitaLand Mall Trust in 2002, CapitaLand’s REITs and business trusts have expanded to include Ascendas Real Estate Investment Trust, CapitaLand Commercial Trust, Ascott Residence Trust, CapitaLand Retail China Trust, Ascendas India Trust and CapitaLand Malaysia Mall Trust.
CapitaLand places sustainability at the core of what it does. As a responsible real estate company, CapitaLand contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.
About Infocomm Media Development Authority
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.
About Enterprise Singapore
Enterprise Singapore is the government agency championing enterprise development. The agency works with committed companies to build capabilities, innovate and internationalise.
It also supports the growth of Singapore as a hub for global trading and startups, and builds trust in Singapore’s products and services through quality and standards.
Visit www.enterprisesg.gov.sg for more information.
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