Helsinki Business Hub (HBH), the international trade and investment promotion agency for the capital of Finland, Helsinki, will be partnering with the Smart Urban Co-Innovation Lab led by CapitaLand, one of Asia’s largest diversified real estate groups, to connect Finnish companies with industry partners in Singapore to co-develop and pilot smart cities solutions.
The Smart Urban Co-Innovation Lab, Southeast Asia’s first industry-led lab for smart cities solutions development, was initiated by CapitaLand and supported by the Infocomm Media Development Authority and Enterprise Singapore. The lab was officially opened by Singapore’s Minister for Communications and Information, Mr S Iswaran on 28 October 2020. The Lab brings together leaders in the smart cities space to co-create and test innovations at CapitaLand’s 5G-enabled Singapore Science Park.
HBH, with its long-standing history of connecting organisations in Singapore and Finland, will introduce solution providers from both countries to come up with innovative technologies for the built environment, smart mobility, and sustainability. HBH will also play a key role in providing relevant expertise to accelerate the development of these technologies.
HBH’s Chief Executive Officer Mr Miska Hakala said: “Both Singapore and Finland have a wealth of experts and technological advancements in the urban environment sector. By joining hands to bring together our expertise and knowledge to co-create and trial new concepts and solutions in such a vibrant living lab in Singapore, we can enable companies from both countries to tap unique opportunities for collaboration and co-innovation.”
“We can also help build an ecosystem of global resources and talent to originate exceptional products and solutions that may be commercially scalable to grow new revenue streams and open up new employment trajectories to boost development of talent and intellectual properties.”
Mr Hakala added that HBH is committed to help Singapore or any other foreign firms introduced in the Lab to set up, grow and develop their business in Helsinki. In addition, HBH will serve as a gateway to facilitate companies from Singapore and Asia to expand in Europe.
For a start, HBH and the Smart Urban Co-Innovation Lab will arrange at least one event per year in Singapore and Finland each to match compatible companies for collaboration on projects to co-create and test smart cities solutions. The Lab will also help HBH-supported companies to set up their business, grow and develop in Singapore as well as to serve as a gateway for Finnish companies seeking to enter and expand in Asia.
Mr Aylwin Tan, Chief Customer Solutions Officer of CapitaLand Group said: “I see great potential through this industry-to-industry collaboration platform. It will bring together the industry players of Singapore and Finland, two of the leading drivers and adopters of smart cities solutions, to explore opportunities in our countries and beyond. I hope to see this translate into a strong co-innovation partnership between Singapore and Finland.”
This collaboration with the Lab is the latest in a string of initiatives by HBH to boost trade and cooperation between Singapore and Finland. HBH has established close working relationships with multiple government agencies in Singapore such as the Building and Construction Authority, Enterprise Singapore and its subsidiary, IPI Singapore, and Housing & Development Board.