DeepTech & AI Asia & Pacific
The Smart Nation initiative
Digital Health - As part of its Research Innovation and Enterprise 2020 5-year plan, Singapore has allocated $4 billion to health and biomedical sciences R&D. 2019 saw the launch of Catalyst, Singapore’s first coworking innovation space for medtech and healthtech startups, as well as the BlueChilli HealthTech Accelerator (in partnership with Enterprise Singapore). Doctor Anywhere, a platform offering on-demand healthcare, raised a $27 million Series B round in 2020, whilst ASLAN Pharmaceuticals went public in 2018 with a valuation of $1.1 billion.
The Monetary Authority of Singapore has introduced a fintech regulatory sandbox program, opened a fintech innovation lab, and launched a fintech innovation village called LATTICE80. The ecosystem hosts Singapore FinTech Festival x SWITCH, which is the biggest fintech and innovation event in the world, attracting more than 45,000 participants from 130 countries.
National Vision: “By 2030, Singapore will be a leader in developing and deploying scalable, impactful AI solutions, in key sectors of high value and relevance to our citizens and businesses”
Focus: the government of Singapore is proactively promoting AI and aims at building a national strategy that fully harness the benefits of AI:
Singapore published its National AI Strategy (2019) that sets out 5 initial National AI projects - key sectors where AI could be deployed to improve social and economic outcomes. These include chronic disease prediction and management, intelligent freight planning, personalized education through adaptive learning & assessment, seamless & efficient municipal services, and border clearance operations.
Also, Singapore aims at building AI ecosystem to anchor AI innovation and adoption across the economy.
Government: successfully launched Government Technology Agency (GovTech), which facilitates the adoption of new technology in government. GovTech has produced a Digital Government Blueprint and a Ministry Digitalisation Guide to support its government innovation agenda, and also conducts an annual survey of citizen attitudes to digital government services.
National initiatives: TechSkills Accelerator programme, SkillsFuture for Digital Workplace.
AI unicorn, Trax, founded in 2010, which specialises in computer vision.
Data and Infrastructure :
Facilitating data sharing through open data portals that allow certain stakeholders access to data in a regulated way