Singapore – PlanetSpark, the investment arm of electronic components distributor Excelpoint, has launched the PlanetSpark Innovation Centre, an accelerator for Artificial Intelligence of Things (AIoT) innovations targeted to supporting Singapore tech startups speed up market deployment, and is supported by Enterprise Singapore.
Under the accelerator program, PlanetSpark will invest an initial S$5 million to expand the centre’s engineering capabilities and develop technology platforms, and has secured a lineup of five startups for its upcoming pilot run of accelerator programme. The project is also in response to high complexity associated with AIoT solution development – from proof-of-concept to production, and eventual commercialisation.
Through the program, PlanetSpark offers a one-stop ecosystem that brings together innovators, hardware and software providers, venture capitalists, small and medium enterprises (SMEs), manufacturers and potential customers.
“Startups can tap into Excelpoint’s vast industry networks of semiconductor manufacturers, sales channel partners and design engineering expertise – enabling the startups to expedite product design and optimize system-level integration for rapid prototyping, thereby reducing their time, cost and risks in bringing their solutions to market,” the company said in a press statement.
The initial group of startups will be developing market-deployable solutions integrating the middleware to solve real-world challenges in thermal sensing, facial recognition, satellite tracking and edge AI analytics.
“The PlanetSpark Innovation Centre is a welcome addition to Singapore’s vibrant technology and innovation ecosystem. It brings ideas, people and networks together to scale innovative AIoT solutions to market and provides enterprises with the necessary resources to build capabilities and drive the development of innovative AIoT solutions. This is important as demand for such solutions is expected to grow in tandem with the region’s emergence of smart homes, cities and industries,” said Satvinder Singh, assistant chief executive officer of Enterprise Singapore.
Meanwhile, Phuay Li Ying, managing director of PlanetSpark said, “Our role as a technology validator will also provide an indication of the potential of the startups for venture capital firms, which plays a key role in the success of a startup. Our ultimate objective is to have a collaborative hardware ecosystem where such start-ups can accelerate their growth and commercialization plans, attract venture capital funding and create new possibilities for local technology innovations and economic growth.”