[INSIGHTS FROM IPI'S LEADERSHIP TEAM]

By Michael Goh, CEO, IPI Singapore

 

SMEs form the backbone of Singapore’s economy, accounting for nearly all enterprises and a large share of employment. Many leaders know they must digitalise, innovate, and look beyond our shores, yet for most, the journey feels daunting. They ask themselves, “Where do I begin, and how do I avoid the risks?”

As I step into the role of CEO at IPI Singapore (from 1 Sep 2025), after 14 years of building the organisation from the ground up, my focus is on making innovation accessible. I call this bite-sized innovation. Instead of grand, resource-heavy projects that overwhelm, we help SMEs break down transformation into smaller, achievable steps. Each win builds momentum, motivates teams, and creates a foundation for sustained growth. This approach matters because it lowers the barriers to innovation, gives companies the confidence to experiment, and ensures that progress is tangible and sustainable. In doing so, we not only help businesses grow but also strengthen Singapore’s broader innovation ecosystem.

The reality for SMEs today

There are more than 250,000 SMEs in Singapore. Many are capable and thriving, but there is a large segment - often in the $1 million to $50 million revenue range - that feels stretched. These are business owners who know they need to innovate but are consumed by day-to-day operations, balancing cash flow, and managing teams. They often don’t have someone to lean on when making big strategic calls.

This is where IPI Singapore comes in. Our role is to walk with SMEs on this journey, not just point them in a direction. Through our pool of Innovation Advisors - industry veterans and former C-suite executives- we offer practical guidance. We start by asking: what does the SME want to achieve, where are they today, and what is the gap? From there, we map out a tailored plan and cut it into bite-sized projects that deliver quick wins.

Practical innovation, not hype

When we curate technologies for SMEs, we wear a simple lens: does this create a real business opportunity? Innovation is relative. What is cutting-edge to one SME may not be for another. The key is relevance.

One example of how our tech matching services create impact is with a solar systems integrator in Singapore that wanted to improve the efficiency of its panels. They did not need a laboratory breakthrough - they needed a high-readiness technology that could be integrated into a solution. Through TechInnovation (IPI Singapore’s flagship event each October), we connected them with a Hong Kong startup that had developed a coating technology. Trials began quickly, efficiency improved, and business opportunities followed.

In another case, a multinational approached us with an AI tool for anomaly detection. They wanted to find innovation-oriented SMEs that could put it to use. We matched them with a Singapore company serving data centres—a sector where cutting energy costs is critical. Together, they tested a robotic inspection solution, helping the SME deploy advanced technology faster, and giving the MNC a practical partner to apply its innovation.

These stories show that when innovation is broken into concrete steps, SMEs can see results without being paralysed by the scale of change.

Connecting beyond Singapore

Singapore is a small market. Any company that wants to sustain growth must think internationally from day one. That is why IPI Singapore takes an open innovation approach. We connect local enterprises to market-ready technologies and partners overseas, rather than reinventing the wheel.

Partnerships are always two-way. For example, we work with South Korea’s KILSA to bring their startups here to co-create with Singapore companies. ¹Japanese corporations, including Panasonic and Ricoh, have also made their patented technologies available to our SMEs, giving them access to technologies they would otherwise never have seen. European partners are tapping Singapore enterprises as springboards into ASEAN. Each collaboration creates opportunities that go both ways.

Our role is to prepare both sides: helping international technology owners understand what local enterprises need, and ensuring Singapore SMEs are ready to meet them. It is about trust and credibility. Over 13 editions, TechInnovation has built that reputation as a neutral, outcome-driven platform where real matches happen.

Cross-Sector Innovation

At IPI Singapore, we serve a wide range of industries. This cross-sector perspective allows us to guide companies with sharper insights and more holistic advice.

A good example is EdTech. It’s a space we are deliberately venturing into because of the opportunities emerging there. Startups are leveraging AI to support children with special learning needs, demonstrating how technology can drive inclusive growth. But the real value lies not only in EdTech itself - it’s in understanding how lessons from adjacent sectors can converge here, and how EdTech solutions, in turn, can influence other industries.

A new chapter for IPI Singapore

As IPI Singapore enters its next chapter, my vision is clear: to be the trusted innovation partner for Singapore SMEs, helping them scale confidently beyond our shores. We will double down on bite-sized innovation, expand our global network, and continue to curate collaborations that deliver real-world results.

My message to SMEs is simple: Stepping forward into the unknown can be daunting. Let’s work together to find the right partner to take your growth further and discover opportunities that may surprise you.

¹In reference to: Japanese Corporates Technology Innovation Launchpad (JCTI)