Companies bank on R&D centres to stay competitive

Local electronics component distributor Excelpoint Technology set up PlanetSpark Innovation Centre to help tech start-ups deploy artificial intelligence and Internet of Things solutions, as part of its growth strategy. Innovate 360 director John Chen
Innovate 360 director John Cheng says the incubator, which was set up by food manufacturer Cheng Yew Heng, works with educational institutions and corporations on venture-building programmes and projects. ST PHOTO: NG SOR LUAN
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SINGAPORE - Coming up with a world-beating idea is one thing, but turning it into a saleable product requires a different approach, one that is being fine-tuned by firms setting up innovation centres here.

These centres focus intensely on research and development (R&D) to help them stay competitive, bolster their supply chain resilience while also serving to reinforce the companies' commitment to Singapore.

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