Co-innovation - collaborating to introduce new ideas or methods - between startups and large organizations (LO) is begining to see acceptance here, even as observers question its feasibility and look for deeper roles from the players and government.
Just last year, Spring Singapore launched its Partnerships for Capability Transformation (Pact) program to facilitate collaborations between LOs and small and medium-sized enterprises (SMEs) - startups included. Since the launch, over 160 partnerships have been formed, including the partnership between ViSenze and Rakuten Taiwan.
Pact aims to foster mutually beneficial collaborations to accelerate the innovation process and create new products and services. Ted Tan, deputy chief executive of Spring Singapore, told The Business Times.
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