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Singapore Government puts aside $2.8M for Startups in Supply Chain and Logistics

News   •   Aug 30, 2017 10:41 CEST

12 startups will be groomed over the next 18 months in the piloting of their innovative logistics solutions.

Spring Singapore and Workforce Singapore (WSG), 2 Government agencies, have put aside 2.8 million dollars to groom and harness the talents of these growth ventures.

The Supply Chain & Logistics Innovation Playground (Sclip) will be the setting for the coming year and a half of supply chain management innovation.

Dr. Koh Poh Koon, Senior Minister of State for Trade and Industry and National Development, stated that “to stay relevant, we will need to build a collaborative ecosystem for large companies and start-ups alike, to develop and adopt innovative supply chain solutions.” He spoke in regards to the innovation that is happening within Singapore and South East Asia in particular.

The hopes for all parties involved is that this incubator, and pilot testing will drive innovation focused around transforming the industrial landscape of traditional logistics.

Sclip is an organization that has put a lot of effort and focus on driving innovation in the form of digital transformation. They already have 27 partners whom are specializing in providing supply chain and logistics innovation solutions; more than half are startup ventures.

Dr. Koh stated that he was confident this project, led by Sclip, will “[…] aim to generate more than $50 million in business ventures over the next 18 months."

This government funded project shows that the digital transformation of supply chain management isn’t only benefit for big business, but government bodies as well. Supply Chain innovation brings efficiency in verticals that are beneficial for all parties involved.

Furthermore, the dynamic of traditional business is transitioning as businesses continue to turn towards start-up ventures to lead the way in the digital transformation of supply chain related activities. 

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