Singapore launches fifth edition of Sustainability Open Innovation Challenge

This launch was announced by Singaporean Deputy Prime Minister Heng Swee Keat in his opening address at the Singapore Week of Innovation and Technology 2023.

The SOIC leverages Singapore’s strong innovation fundamentals to drive the development of solutions that can be scaled globally, starting with those that address pressing sustainability issues in Asia.

The upcoming SOIC introduces a new Open Category for solution providers, granting them direct entry to Temasek Foundation’s The Liveability Challenge without the need for a separate application.

Furthermore, it will allow participants to access an expanded network of demand drivers and partner support beyond SOIC. The collaboration focuses on crowdsourcing innovative solutions in areas such as carbon capture, utilisation, and storage, as well as emerging renewable energy.

Additionally, startups and SMEs that apply for the SOIC will be considered for the Amplifier mentorship programme from the Centre for Impact Investing and Practices (CIIP) and Philanthropy Asia Alliance (PAA).

The Amplifier is a dedicated, one-year, capacity-building scheme focused on helping high-impact startups develop a path to sustainability by providing access to hands-on mentorship, critical professional services, and tangible commercial opportunities.

Tan Boon Kim, executive director of Global Innovation Network and Innovation Eco-system Development at EnterpriseSG said, “We are happy to work with strategic partners like Temasek Foundation for The Liveability Challenge, as well as CIIP and PAA for the Amplifier, to accelerate the growth of our innovation ecosystem and drive new collaborations in the sustainability space.”

“The current climate pressures have made it increasingly urgent to not just develop solutions that can address sustainability challenges, but to scale them effectively. By working together, we can amplify our support for startups and innovative SMEs to give them the best chance of success,” he added.

More than S$3 million (around $2.2 million) has been set aside to support the development of innovative solutions through SOIC 2023, the highest amount to date.

This year, nine strategic partners, along with 19 global corporates such as Japfa and Tata Steel, have launched 22 challenge statements to crowdsource innovative solutions across areas including climate change, sustainable agriculture and trade, green buildings, and sustainable materials.

These demand drivers not only represent the current industry needs, but also provide the scale and expertise to nurture and anchor promising startups in their respective industry ecosystems.

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