Hewlett Packard has a long standing relationship with Singapore, dating back 40 years, and is about to upscale its investment in the country with ambitious plans to spend $140 million (USD) through its HP Enterprise division. As well as launching its new headquarters for the Asia, Pacific and Japan region in Singapore, HPE revealed a hugely interesting new programme called InnovateNext, which will see $16 million invested in working with local businesses and start-ups in Singapore.
New HPE Building
The new HQ brings together HPE’s various operations in Singapore into one location, and is intended to make it easier for units to collaborate. It also features a state of the art Customer Experience Centre as its centrepiece. There are currently around 1,600 employees working under HPE in Singapore, and the current move toward upgrading the relationship between the business and the city give the expectancy that number will rise.
The InnovateNext program is perhaps the most interesting aspect of HPE’s drive in Singapore, and it will see HPE work closely with 12 startup companies across sectors that align with HPE’s own technology objectives. These include data, analytics, and Internet of Things (IoT). The plan is not to simply invest money in the startups chosen, but to offer them infrastructure and resources that can make it possible for them to develop and launch the best in tech products. With access to HPE’s customers, research centres and global partners, these fledgling Singapore businesses should be able to transform strong tech product ideas into game changing technologies.
A Mini Silicon Valley
The reasons why HPE are so keen to invest in new tech in Singapore is that they see Singapore as having the necessary ingredients to create a new hub of innovation akin to a mini Silicon Valley. With good universities, a nice venture capital infrastructure, and the presence of a lot of good existing tech companies (including HPE), Singapore is a place where encouraging the growth of talented people and businesses in the tech industry is easier than most.
Singapore’s Key Place in The Tech World
Those interested in the tech sector in Singapore, for instance those who are involved in trading on the financial markets with software such as metatrader 4, will already be aware of just how the tech industry has helped shape Singapore as the financial capital it is today.
While the development of the huge business presence of Singapore proportional to its size is usually attributed to the finance industry, as Singapore began to become home to a lot of companies in that sector and new innovations began to infuse the finance industry, Singapore emerged as a world leader in the burgeoning ‘fintech’ sector. Even the central bank (the Monetary Authority of Singapore) has a FinTech and Innovation Group designed to promote and facilitate how technology is adopted in the finance industry. With the government making significant investments into fintech startups, projects and initiatives, Singapore has become a hub of innovation in the financial technology sphere, and so it is no surprise that other technology investments are beginning to be drawn to Singapore.
HPE’s investment in Singapore is certain to result in some interesting projects, and potentially some new technologies that the world will take notice of.
Marcus Turner Jones graduated in Economics from the University of Sheffield before persuing a career as a Market Analyst in London. He has his own website, Turner Jones Finance, and writes freelance from Buenos Aires with his dog, Luna.