Singapore companies accredited by IMDA win accolades for innovative solutions

Singapore companies accredited by IMDA win accolades for innovative solutions

Recently two local Singapore companies accredited under the
Infocomm Media Development Authority’s (IMDA) Accreditation@SG
programme won international accolades for their innovative technology

Launched in July 2014, the programme seeks to help promising
Singapore-based tech product companies to win projects, grow and compete in the
global market. Being accredited opens up more opportunities for their products
and solutions to be showcased and commercialised. For buyers from the
Government and large enterprises, the accreditation process provides an
independent third-party evaluation of the companies’ claimed product core
functionalities and ability to deliver. In the long run, the programme aims to develop an innovative ICM (Infocomm Media) ecosystem to drive economic growth, inspire the
younger generation, and build more innovative products and technology companies
that can scale globally.

DC Frontiers, a
FinTech company specialising in corporate intelligence technology was awarded
the ‘Most Innovative Business Idea’ for their product, Handshakes, at the
inaugural India-ASEAN Commemorative
in New Delhi in January this year. The Most Innovative Business Idea
award is a prestigious accolade presented by the Indian government at the
India-ASEAN Youth Awards, which was held alongside the main summit.

The Handshakes platform visually and interactively
maps out relationships and events between companies and persons in the
corporate ecosystem. The platform can tap into data from official registries,
giving up-to-date coverage of 100 million business entities in Asia. This can
help financial services firms, regulators, corporates and researchers gain business
insight and intelligence.

The latest innovation in the Handshakes platform is the SEER
engine, a proprietary artificial intelligence system that specialises in
accurately extracting corporate information, events and relationships from
unstructured text. SEER’s natural language processing ability has been honed
through deep learning. The SEER engine would help extend the scope of the
Handshakes platform into the realm of unstructured data sources such as the
news, document archives and emails.

Mr Daryl Neo, CEO and Co-Founder of DC Frontiers said,
"We are extremely grateful to the Indian government for recognising
Handshakes as the Most Innovative business idea in ASEAN. Handshakes exists to
help our customers do business safely. Even though much of our work is unseen
by the public, it is profoundly felt. This year, we’re expanding Handshakes’
coverage to more parts of Asia. We believe in collaborating for speed and are
looking for partners across the globe with whom we can produce innovative and
profitable products."

Mr Edwin Low, Director of Accreditation@SG Digital commented,
"We are extremely pleased that DC Frontiers' solution has been conferred
such a prestigious award by the Indian government. We will continue to work
with DC Frontiers to increase their traction through new opportunities in both
the government and enterprise sectors".

Another Singapore headquartered company, Affle, which has built ‘Mobile Audience
Intelligence and Analytics Platforms’ received an award for its SG:D Accredited
ad fraud detection platform, mTraction FaaS or mFaaS. It was recognised as the
industry wide best Big Data Technology Product of the Year at the IAMAI India
Digital Awards. The Internet and Mobile Association of India or IAMAI is the leading non-government advertising industry body
in India. Its mandate is to expand and enhance online and mobile value-added
services sectors.

mFaaS enables mobile advertisers and networks to detect and
prevent mobile ad fraud not only at a post-mortem level, but during runtime. It
processes massive volumes of click and conversion data using multiple
algorithms to detect patterns of indicative or definitive fraud, and is currently
used globally to detect and reduce ad fraud for campaigns of many top
marketers. It is also helping advertising agencies, advertising networks &
media publishers to optimise ROI (return on investment) for their customers by
helping weed out significant amount of fraudulent traffic which is negatively
impacting all in the digital advertising ecosystem.

The platform provides a visual analytics suite that displays
data in an easy to action format, allowing Advertisers to block or blacklist
traffic sources based on the analysis of 15+ reason codes that identify wide
ranging variety of frauds including Click or downstream event hijacking, Click
spamming, BOT activities, IP Fraud, Device fraud and many more.

mFaaS is currently integrate-able using SDK (software
development kit) or APIs (Application programming interface) and can also be
integrated with leading third-party attribution platforms, without the need for
any additional code by the app owners.

Last year, Affle also won a grant as one of the 18 awarded solutions under the Singapore Tourism Board’s (STB) Tourism Innovation Challenge for Hotels, for its mTraction platform, which is a composite suite of various services like App Reusable Components, Event Attribution, In-app analytics, Customer Data Platform for CRM and Mobile Ad Fraud Detection.

Affle has filed more than 7 patents for the underlying
technology and is currently working to make the platform available to top
marketers across geographies.

“We are delighted that Affle’s mFaaS platform has been
recognised by India’s IAMAI. With the prevalence of mobile devices globally and
the growth of mobile ads, Affle’s platform is a much needed solution to deal
with the issue of mobile ad frauds. Accreditation@SG Digital will continue to
work with Affle to build their traction in both Government and enterprise
sector to further accelerate their growth,” said Mr Edwin Low, Director of
Accreditation@SG Digital.

In May last year, IMDA signed
individual Memorandum of Intents (MOIs) with three leading local banks, UOB,
DBS and OCBC, to provide accredited companies with increased access to
innovative projects in the banking sector. IMDA also entered
into a partnership with the Singapore Exchange (SGX) to lower the barriers for
IMDA-accredited companies to access capital markets.

At the launch
of the Industry Transformation Map (ITM) for Singapore’s Infocomm Media sector in November 2017,
IMDA announced
the expansion of scope of the Accreditation@SG Digital programme. The pool of accredited
companies would be expanded beyond start-ups and young SMEs to include later
stage SMEs and deep technology foreign companies. IMDA is working with the
Economic Development Board (EDB) to anchor best in class foreign high-tech
companies to complement Singapore’s local enterprises and ecosystem. By
congregating a critical mass of high growth tech product companies in
Singapore, IMDA expect more global investors and high tech talent to be
attracted to Singapore’s ecosystem, creating synergies and positive spinoff.

By November 2017, over S$80 million worth of government project opportunities had
been created for accredited companies and more than 120 projects had been
awarded. In addition, more than S$68 million of new growth capital had
been invested in the companies during and after accreditation.

As of January 2018, 21 companies had been accredited, in
areas such as cybersecurity, data analytics and artificial intelligence, enterprise
development platforms, Internet of Things (IoT) and media tech.