A new co-working space to help local companies innovate and develop products will be launched in the Jurong Innovation District (JID), announced Senior Minister of State for Trade and Industry Koh Poh Koon on Tuesday (Mar 3).
The SIMTech Innovation Factory – an initiative by the Agency for Science, Technology and Research (A*STAR) in partnership with Enterprise Singapore – will be operationally ready at JID’s CleanTech Park by next year.
Speaking at the Ministry of Trade and Industry’s (MTI) Committee of Supply (COS) debate, Dr Koh described the space as one that will help local firms “ideate and design their own unique products”.
For a start, it will provide design and prototyping support for applications such as inspection equipment, medical technology (medtech) devices and electromechanical modules.
“It will be equipped with the necessary tools for companies to prototype their designs, and will have resident design and technology experts to help companies through their innovation journey,” said Dr Koh, noting that this will be very helpful for small- and medium-sized enterprises (SMEs).
“After successfully designing their own products, companies can then go to one of the two A*STAR model factory facilities for pilot production,” he added.
The co-working space will be the latest addition to the JID, which is being developed as a hub for advanced manufacturing.
The district is expected to create 95,000 jobs in research and advanced manufacturing activities over the next 20 years.
Source: CNA – 3 Mar 2020