SINGAPORE - Eight technology firms have been awarded a total of $1.5 million to use digital means to help manage buildings and amenities in six industrial parks in Singapore.
This is part of Singapore's drive to support the use of technology in building, maintaining and managing the country's urban centres, said Minister for Communications and Information S. Iswaran at the opening of an annual technology conference on Thursday (June 27).
"As cities become denser as a result of rapid urbanisation, there are opportunities - and even a moral obligation - to transform them for the better through technology," said Mr Iswaran at Innovfest Unbound, which is in its fifth year.
This could be in building design and maintenance, urban mobility, or estate security, he added.
And globally, such business opportunities are growing in numbers.
Mr Iswaran noted that a market research firm estimates that worldwide spending on smart cities will reach $95.8 billion this year, with the Asia-Pacific region contributing 40 per cent of this spending.
In Singapore, the Infocomm Media Development Authority (IMDA) is providing funding to match technology firms, with property developers to roll out smart estate projects in order to build technology and innovation capabilities in solution providers and nurture talents, he said.
Mr Iswaran announced that in the first round of IMDA's industry tech call, eight companies had been selected to work with Ascendas-Singbridge and JTC in a range of areas, including smart parking, unmanned retail stores and landscape management.
One of the projects is a 3D Visual Intelligence Centre where users can view, manage and analyse different types of estate information such as CCTVs, heating and ventilation on a single platform from any device, he added.
In the second round of the three-year $14 million smart estates programme, IMDA will extend the trial to mixed developments of commercial and residential buildings managed by private developer Frasers Property and the Housing Board.
"I would like to encourage all interested parties to apply for this tech call," Mr Iswaran told an audience of global tech industry players, investors and business leaders.
"It is only when we come together in partnership and collaboration, leveraging resources and insights, can we transform cities and the lives of the people who live and work in them," he added.