Singapore, March 28th, 2017 – Xinova and Singapore based Budding Innovations announced today they would expand their work to deliver breakthrough materials and packaging based innovations. The expansion strengthens both companies growth in Singapore, for the benefit of global corporate clients.
Xinova is funding Budding Innovations for the continued build-out of its prototyping capabilities, and to more rapidly turn early stage ideas into proof-of-principle and market relevant prototypes. This capability will drive innovation efficiency by both establishing feasibility at a very early stage and de-risking technology adoption for multinational clients. This process delivers prototypes that can be developed into scalable and commercially ready solutions much faster.
“Budding Innovations is excited to deepen its partnership with Xinova,” said Dr. Bert Grobben, Founder and CEO of Budding Innovations. “Application and contextual prototyping capabilities are critical for the selection of high potential early stage technologies, and to focus downstream resources more efficiently. Doing so rapidly, iteratively, and in the context of an identified client problem statement is key to driving innovation productivity.”
“Xinova is thrilled to expand its partnership with Budding Innovation and we look forward to continued growth for both businesses in Singapore and around the world” said Dr. Maggie Ng, VP and Head of the Technology Development Center at Xinova. “Budding Innovations has proven itself to be a great springboard into the Singapore innovation community. This partnership has generated positive outcomes across the board and both organizations now have additional headcount to further develop rapid prototyping capabilities. This partnership has been brought about thanks to the support of the Singapore Economic Development Board.”
An initial focus of the partnership will be on technologies and applications relevant to Fast-Moving Consumer Goods (FMCG), as this sector has a significant need and interest in fast-paced innovation and real world prototyping. The team recently proved the benefits of the collaboration by successfully developing and licensing a new product concept, with several more innovations in active development. At a later stage, both companies will evaluate widening their rapid prototyping capabilities for a broader set of deep technology areas.
Budding Innovations Pte. Ltd. is a Singapore headquartered firm that focuses on Technology Commercialization by closing the maturity gap between new innovations and the needs of the market and its customers. The firm specializes in working with early to more matured stage technology owners, and translates the technology’s potential into a full go-to-market strategy, and the hands-on execution thereof. BI effectively takes technology to market and plays an active role in the end-to-end commercialization, through its bespoke strategic capability partner ecosystem, and wide market opportunity access. BI drives commercialization through eventually transferring appropriately matured programs to a corporate client, into a (self-)managed start-up, or driving a technology portfolio approach on behalf of our clients. Technology verticals centre around Advanced materials, CleanTech, Life Sciences and MedTech. BI also engages on Corporate Entrepreneurship programs, and offers entrepreneurial internship programs to young entrepreneurs, grows their skill sets and contributes towards building a vibrant start-up scene in Singapore.
Xinova partners with customers and inventors to think beyond the confines of their organization and solve big problems. With clients worldwide ranging from Fortune 100 companies to SME’s , Xinova has more than 50 experts, including PhDs, product and commercialization experts, business analysts, and intellectual property experts. At its core, Xinova manages a curated Innovation Network – a community of over 10,000 multidisciplinary experts from more than 30 countries and more than 100 companies, institutions, and universities around the world. The Xinova portfolio of innovations and incubated spinouts covers a wide range of technology sectors, including food and beverage, science, agriculture, manufacturing, electronics, and biotech. Xinova’s Technology Development Centre, based in Singapore is supported by the country’s Economic Development Board.
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