TechInnovation 2017 sees record high 3,900 in attendance over two days of conference sessions and technology showcases

SINGAPORE, 5 October 2017 – The
sixth edition of TechInnovation concluded successfully, with over 3,900
participants from more than 40 countries in attendance, a 44% increase from
last year’s turnout. The annual two-day technology marketplace is Singapore’s
premier technology brokerage event, bringing together technology providers and
seekers under one roof to explore business collaboration opportunities through
open innovation. This year’s exhibition floor saw over 160 exhibitors
showcasing more than 400 enabling and ready-to-market technologies.

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Organised by IPI Singapore, TechInnovation is held in
association with the Singapore Week of Innovation and TeCHnology (SWITCH). The
opening address was delivered by Mr S. Iswaran, Minister for Trade and Industry
(Industry). In his address, Mr Iswaran highlighted the need for Singapore
enterprises to seize the initiative to tap on each other’s technology
capabilities, and exploit adjacencies in production processes to access new
opportunities and address complex business challenges.

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Several announcements were made at TechInnovation 2017. They
are:

·  The formation of the Singapore
Medtech Consortium (SMC), led by precision engineering small and
medium-sized enterprise (SME) Racer Technology and supported by SPRING
Singapore, International Enterprise (IE) Singapore and Singapore Precision
Engineering and Technology Association (SPETA). The first-of-its-kind
industry-led consortium of five complementary manufacturing SMEs, will provide
end-to-end manufacturing solutions in the areas of in-vitro diagnostics, active
and non-active medical devices, wearables and life science tool consumables

·  The
licensing agreement between medtech startup Invivo Medical Pte Ltd, the
Institute of Technical Education (ITE), National University Hospital (NUH) and
National University of Singapore (NUS), for the commercialisation of Percutaneous Access to Kidney
Assist Device (PAKAD). The
innovation makes kidney stone removal surgery simpler, shorter and safer. The
technology partnership originated from TechInnovation 2015 and the agreement
was signed on 29 August 2017.

·  Launch of the inaugural IP
HatchDay, an open innovation competition for startups or
entrepreneurs to leverage Intellectual Property (IP) and technologies to
develop scalable business ideas. Winners of the competition will receive
funding, incubation, mentorship and support from organiser and IP bank, Piece
Future and its partners.

“IPI’s greatest achievement with TechInnovation is seeing both
technology providers and technology seekers mutually benefit from the event. We
want this platform to continue fostering technology partnerships for all
parties and to encourage open innovation practices. The success of this year’s
edition is evident from the strong turnout of delegates and exhibitors seeking
collaboration opportunities with SMEs. A total of 1,300 business meetings were
initiated over the course of two days, between local and international
participants,” said Professor Lam Khin Yong, Executive Director of IPI.

Headlined on the exhibition floor this year were two new
pavilions showcasing their respective technologies and applications. The Food
Pavilion had 10 companies showcase their emerging technologies to create
innovative products and solutions to meet the food industry’s evolving needs.
The European Pavilion consisted of 15 organisations from countries such as
Estonia, Finland, Germany, Spain and the Netherlands, allowing local
enterprises to connect with European partners to discover new innovation
opportunities.

“Exhibiting at TechInnovation 2017 has been a tremendous benefit
for us. IPI has lined up an extensive number of meetings for our organisation
to bridge us with industry partners over our two days here. We have already
received a substantial number of business enquiries from Multinational
Corporations (MNCs) and SMEs. We are hopeful that a lot of positive synergies
will come out of these meetings, and extremely thankful towards IPI for
arranging them,” said Food Innovation speaker, Alan Phua, Master Builder at
Alchemy Foodtech.

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TechInnovation is a premier technology-industry matching event
that is organised by IPI Singapore. TechInnovation brings together
international technology providers and enterprises to explore technology
commercialisation and initiate business collaboration through open innovation.
It is a leading conference and exhibition in Singapore that focuses on the
matching of industry’s needs to enabling technologies in info-communications
& electronics, manufacturing, materials & chemicals, health &
personal care, medtech, energy and environment from global sources. More
information on TechInnovation can be found www.techinnovation.com.sg.

IPI was established by the Singapore Ministry of Trade & Industry
in April 2011, to catalyse and enable enterprises to grow their businesses
through the use of technology and innovation. IPI promotes open innovation, and
works with enterprises to source for technologies available both locally and
from abroad. In addition, it facilitates partnerships to bring new and
innovative products and services to the market. Connected to a global network
of technology partners including the Enterprise Europe Network (EEN), IPI is
well-positioned to assist Singapore enterprises to discover new business and
innovation opportunities and expand their reach through its innovation
partners. For more information, visit www.ipi-singapore.org.