DBS to help SMEs in Singapore innovate

SMEs under the DBS TechMatch initiative will either be matched to an appropriate tech solutions provider or develop solution concepts with university students.

By Nurdianah Md Nur
Aug. 17, 2016

DBS building

DBS has collaborated with Infocomm Investments and IPI Singapore to launch DBS TechMatch, in a bid to encourage small and medium-sized enterprises (SMEs) in Singapore to innovate.

"Through our various initiatives, we've learnt that many SMEs are keen to adopt innovation projects but do not know where to start," said Joyce Tee, Group Head, DBS SME Banking. "We recognise that there is a gap so we decided to partner Infocomm Investments and IPI to help match SMEs with the appropriate technologies, based on their needs."

The initiative requires SMEs to first submit a DBS Techmatch request online, which will require them to define a business problem. The DBS BusinessClass team will then review the request before connecting the SME to an existing solutions provider that offers the required technology.

For SMEs that are looking for specific technology and expertise, IPI will source for these through its international network and database of technology opportunities.

Meanwhile, for SMEs with business problems that do not have ready technology solutions, Infocomm Investments will take them through a five-day "SPRINT Hacks" solution process. In this process, SMEs will work together with university students to develop a concept for a viable solution. A public demo of the solutions will round off the SPRINT Hacks programme.

"The core of SPRINT methodology is design thinking on steroids, that drills down to the root of the issue, sharpens problem statements that are worth solving, rapidly prototypes and tests solutions to tackle these problems all within five days," said Dr. Alex Lin, Head of Infocomm Investments.

"SPRINT Hacks addresses critical business questions that SMEs often struggle to define. The outcome is innovation that addresses operation inefficiencies and new business opportunities identified. These are hugely beneficial to the problem owners (SMEs), solution providers and entrepreneurs," he added.

Following the SPRINT Hacks, SME business owners will work with the solution providers to execute proposed solution concepts to solve the problems that need to be addressed.

DBS TechMatch is currently available only to DBS SME banking customers and BusinessClass members. More information on the initiative can be found on http://go.dbs.com/TechMatch