TechInnovation 2017: A Retrospective

TechInnovation visited the shores of Singapore for the sixth time ever from 19 to 20 September! Opened at Marina Bay Sands Expo and Convention Centre and organised by the Intellectual Property Intermediary (IPI) Singapore, the two-day premium technology-industry brokerage event allowed technology providers and seekers globally to come together and explore technology collaboration opportunities through open innovation.

This year’s event saw more than 3,000 delegates from over 40 countries; along with 60 thought leaders, industry experts and leading researchers share their valuable insights on emerging trends, present technology opportunities available for commercialisation and to invite the innovation community to work together and create solutions to address challenges faced when innovating. Over 160 exhibitors from 30 countries also were present to showcase more than 400 licensable technologies based on 4 technology themes – Services and Digital Economy, Advanced Manufacturing & Engineering, Health & Personal Care and Urban Solutions & Sustainability.

Kicking off the event, Guest-of-Honour, Minister for Trade and Industry (Industry), Mr S. Iswaran opened with an informative opening address about how innovation is the key aspect in the strategy to help enterprises build on differentiating capabilities and to scale up in such a competitive business environment. He also mentioned how partnerships and collaborations can be an important driving factor to enable enterprises to develop capabilities to leverage on various innovations.

Focused on driving partnerships to seed licensing opportunities, fostering open innovation collaborations and accelerating development and time to market; TechInnovation saw multiple exciting collaborations this year.

One of the notable collaborations includes the Percutaneous Access to Kidney Assist Device (PAKAD) made possible through a technology collaboration that stemmed from TechInnovation four years ago involving the Institute of Technical Education (ITE) and National University Hospital (NUH),  National University of Singapore (NUS) and Invivo Medical Pte Ltd. Made with the aim of finding a more cost-effective positioning and stabilising solution for Percutaneous Nephrolithotomy (PCNL) surgeons, the prototype was actually exhibited at the  2013 edition of TechInnovation and attracted HCMT Holdings Pte Ltd (HCMT)’s startup, Invivo Medical Pte Ltd (Invivo Medical), to pursue a joint collaboration in the final development work and commercialisation.

Furthermore, this is just a representation of how the fruits of their labour have been sown because as of 29 August 2017, the medical device will be commercialised and a licensing agreement was signed between Invivo Medical, ITE, NUH and NUS; as well as have an expected reach of  S$25 million over the next five years.

“This is an excellent example of industry-institution partnership to develop innovative and integrated solutions to improve productivity and processes. We are grateful to NUH, NUS and Invivo Medical, to enable ITE to create and patent the Percutaneous Access to Kidney Assist Device (PAKAD) for safe kidney surgery,” said Ms Low Khah Gek, CEO of ITE.

The partnership between ITE, NUH, NUS and Invivo Medical brings the Percutaneous Access to Kidney Assist Device (PAKAD) to the market. Dr Lee Teck Kheng, Director, Technology Development and Technology Transfer Office, ITE, demonstrates the capabilities of PAKAD to Mr S. Iswaran, Minister for Trade and Industry (Industry); Mr Ted Tan, Deputy Chief Executive of SPRING Singapore, and Chairman of IPI; and Professor Lam Khin Yong, Executive Director of IPI at TechInnovation 2017.

The partnership between ITE, NUH, NUS and Invivo Medical brings the Percutaneous Access to Kidney Assist Device (PAKAD) to the market. Dr Lee Teck Kheng, Director, Technology Development and Technology Transfer Office, ITE, demonstrates the capabilities of PAKAD to Mr S. Iswaran, Minister for Trade and Industry (Industry); Mr Ted Tan, Deputy Chief Executive of SPRING Singapore, and Chairman of IPI; and Professor Lam Khin Yong, Executive Director of IPI at TechInnovation 2017.

Besides that, TechInnovation highlighted 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). This industry-led group is the first of its kind where five complementary manufacturing SMEs form to 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.

Home-grown precision engineering firm Racer Technology, and complementary manufacturing SMEs Cutter Technologies, Grantech, Haxalyst and Cragar Industries inked an MOU to form the industry-led Singapore Medtech Consortium to provide end-to-end manufacturing solutions in medical devices and wearables. Supported by SPRING Singapore, International Enterprise Singapore and Singapore Precision Engineering and Technology Association (SPETA), the partnership was witnessed by Mr S. Iswaran, Minister for Trade and Industry (Industry) at TechInnovation 2017.

Home-grown precision engineering firm Racer Technology, and complementary manufacturing SMEs Cutter Technologies, Grantech, Haxalyst and Cragar Industries inked an MOU to form the industry-led Singapore Medtech Consortium to provide end-to-end manufacturing solutions in medical devices and wearables. Supported by SPRING Singapore, International Enterprise Singapore and Singapore Precision Engineering and Technology Association (SPETA), the partnership was witnessed by Mr S. Iswaran, Minister for Trade and Industry (Industry) at TechInnovation 2017.

This edition of TechInnovation also warmly welcomed the launch of IP Hatchday on its second day. Organized by Piece Future Pte Ltd and supported by IPI,  IP Hatchday is an open innovation competition that aims to leverage on Intellectual Property (IP) and technologies to develop scalable business ideas. In this competition, winners stand a chance to win a starter pack for success that consists of mentoring, business networks, exposure to institutional partners, funding and incubation opportunities. Besides that, prizes also include the added element of granted IPs and technologies, offered by three renowned institutions: Panasonic, Temasek Polytechnic and IP Bridge.

CEO and Founder of Piece Future Pte Ltd, Jason Loh went on to say, “Innovation is limitless and intellectual properties are incredible source of ideas. Intellectual properties may be like diamonds in the rough sometimes but Piece Future knows exactly how to make their value shine through.”

All in all, Technovation managed to be another awesome success yet again!For more information on the event, you can visit their website here. As IP Hatchday, the first round of submissions close on 5 November 2017 and  for more information, you can visit their website here.