INTERNATIONAL Enterprise Singapore launched a new initiative on Wednesday to help Singapore-based infocomm technology companies to expand overseas.
The initiative, called iRural, will support participating companies in diversifying into emerging and growing markets.
The first such group, called the iRural Community Consortium (iRCC), aims to achieve a targeted overseas revenue of S$300 million over the next five years.
iRCC is one of the three consortia the IE plans to form. It is anchored by wireless solutions company smartBridges and includes IP telephony firm InnoMedia and communications technology company Nera Telecommunications as members.
iRCC plans to expand into emerging markets in Asia, Latin America and Africa. It has already bagged two projects worth S$10 million in India and Peru.
Speaking at the launch of the initiative on Wednesday, IE's director of infocomm technology Mr Thian Tai Chew said that during these challenging times, Singapore-based ICT companies should consider looking at diversifying their markets as a long term plan.
'The iRural initiative supports companies to band together and provide holistic solutions to bridge the digital divide in rural communities,' he said.
An MoU between the three iRural member companies was signed on Wednesday.
