Capgemini's new Applied Innovation Exchange to aid startups in Singapore

Global consulting, technology and outsourcing services company, Capgemini, has announced the launch of its Applied Innovation Exchange (AIE) in Singapore. Being the first AIE in Southeast Asia, it will focus in areas such as data analytics, visualization, artificial intelligence and cognitive computing. According to the company, the new exchange is in line with Singapore’s ‘Smart Nation’ vision and will strengthen Singapore’s reputation as an innovation hub by expanding the region’s innovation capacity and bolstering the development of local talent, to co-create a technology-enabled future.

What is AIE and how does it Work?

The company claims that AIE enables local and regional organizations to future-proof themselves, by proactively planning for forthcoming transformations by responding in an agile way that breaks with the traditional models of Research & Development. AIE helps companies systematically work through the process of innovation, uncover and experiment with new creative ideas, while simultaneously remaining agile enough to respond to the constant market and technology shifts. It caters to enterprises in automotive, manufacturing, consumer products and retail, banking and insurance, and energy and utilities to drive real and sustainable growth opportunities for their businesses. Singapore AIE will also function as a gateway to broader and deeper knowledge by providing businesses from Singapore and neighbouring nations access to a wider global ecosystem of emerging technologies and innovation collaborators. “Businesses are now focused on how to embrace and apply innovation with speed and scale in a secure and sustainable way. This requires a new way of thinking and working, in which companies drive corporate innovation through collaboration with a broad innovation ecosystem, to reinvent themselves for tomorrow’s business challenges,” said Lanny Cohen, Global Chief Technology Officer, Capgemini.

“With its vibrant start-up scene and business friendly environment, Singapore is the vanguard of Asia’s rise as an innovation superpower and the perfect location for Capgemini to establish our first AIE in Southeast Asia.”

AIE’s role in Singapore

The Singapore AIE will be working with Capgemini’s partners and academic institutions to develop a databank of knowledge and expertise specifically for Singapore. It will also work globally with existing AIEs in locations such as London, Munich, Mumbai, Paris, and San Francisco. In addition, Capgemini’s InnovatorsRace50, a global competition for start-ups and entrepreneurs, is now open to applicants worldwide including from across Singapore and the APAC region. The competition provides start-ups with an international platform to showcase the potential of their products, services or innovative uses of technology to disrupt businesses and industries. It will offer five winning start-ups the opportunity to secure equity free-funding of $50,000, extensive networking opportunities, participation in international tech events, access to industry experts, and the opportunity to become a Capgemini partner. “Singapore’s recent Committee for the Future Economy report underscored the nation’s need to further develop innovation by fostering entrepreneurial talent and collaborating with innovation hubs. To that end, we are committed to working closely with our key partners, the Economic Development Board, and the city’s varied ecosystem of innovators and start-ups to create new solutions for companies to future-proof their businesses,” said Luc-François Salvador, Executive Chairman, Asia Pacific and the Middle East, Capgemini.