SUPPORTING NASCENT SECTORS
To support companies in nascent sectors like precision medicine, EnterpriseSG is building connections with partners in established markets to help them access customers, investors and expertise.
Advancements in technology mean that precision medicine will allow firms to develop products that are more effective in providing healthcare to countries all over the world, especially given the ageing demographics, said EnterpriseSG managing director Cindy Khoo.
“That presents business opportunities for companies in Singapore that can provide those services for more precise diagnostics or therapeutics services,” she told CNA’s Singapore Tonight on Thursday.
She said that SMEs in this space may have the capabilities and solutions, but not scale yet.
“We need proof of concept and to pilot and … to show a track record so that we are able to link our local companies with overseas partners like Mayo Clinic (in the US and) like Charité in Germany, which are very established healthcare institutions that will take on our solutions and then scale them within their networks,” she said.
Ms Khoo said that while the global business climate may hang in the balance, there could be a silver lining.
“The great uncertainty actually also presents opportunities with the great reconfiguration of global supply chains,” she said.
“That’s where we can look for opportunities, where our companies can disrupt maybe existing suppliers, and then provide our services and goods to the rest of the world more effectively.”
