Deeply honoured to address and most humbled to receive a standing ovation from the Executive #MBA students at the 600 years old Divinity School, University of Oxford. The Divinity School is the oldest purpose-built school for discussion on Theology decorated with spectacular architecture and breathtaking design.
Chairing the Policy Discussion Workshop: "Can Regulatory #Sandbox be used in an Innovation-led #Economy?"
1. Pioneering Drone Taxis
A start-up aspired to pioneer flying drones to ferry passengers but was deterred by local regulations on possible terrorism and hazard. Consequently to testbed in another continent at Nevada. Regulations at times run ahead of innovation and deter testbedding initiatives.
2. Sandboxes and Pioneers
Sandboxes were used at fintech industry which Central Banks monitor new startups, products and services without impeding innovative business model. Monetary Authority of Singapore (MAS) has established Fintech Sandboxes in 2014 which subsequently catapulted Singapore as one of the Fintech pioneering cities since 2016 versus London, New York.
3. Regulatory Vs Innovation Issues
"Can regulatory sandboxes be cascaded to more industries like sustainability, infocomm, environmental and medtech industries?"
Global Catalyst CEO had the privilege to Chair the session https://lnkd.in/g5rf4ExR at Institute of Public Policy Studies
Amongst the spectrum of member states of ASEAN and China, there has been various vaccines diplomacy, policies, incentives and implementation rates.
Progressing further, guidelines was released in Singapore on differentiated treatments of Employees based on vaccination status by Singapore National Employer Federation. https://www.facebook.com/capital958/?__tn__=k-R
Is this a necessary measures as employees have freedom to vaccinate and employers have flexibility to deploy staff based on vaccination.
While there is a need to balance public safety, but some employee could not vaccinate owing to medical challenges.
Will differentiated staff treatment by vaccination leads to:
- prejudiced staff treatment
- removal of staff from frontline interfacing
- unequal employment opportunities?
What are your thoughts?
Taking stock on what lies ahead for 2021-2025, discussion with Dr Faizal, Israeli Dr Ori, Prof Neo Kok Beng, Prof Toh Mun Heng, industry practitioner Alan Chua, Si Ngah, Eugene Koh ( Association of Small & Medium Enterprises - ASME ) deep diving into:
1. The difference in Israeli and Singapore innovation culture
2. Our transition in innovation from previous Creative Technologies syndrome - successful overseas before Singapore's recognition to the accelerated outcome of laboratory-grown impossible meat
3. Have regulations evolved fast enough to accommodate post-Covid innovation and exigency?
4. Case studies of Artificial Wearable Kidney (FDA Vs HSA) Drones Taxi (CAAS regulations) which had to be testbedded in US prior Singapore's approval. Whereas MAS push out fintech in accelerated manner within liberalized sandbox.
5. What makes the difference in treatment between tRransport (disallowing drones taxi testbed) versus finance (fintech adoption within sandbox)?
6. Can a statutory board serves 2 objectives of regulatory and promotional functions (e.g. SFA, MPA, MAS). Which takes priority and precedence?
Any thought and suggestion that you might have on Singapore's state of innovation?
Post-Covid period, the ability to evolve innovation and adjust regulations in parallel speed is essential to survive in this new reconstructed Economy.
Analysing Singapore current state of digitisation issues at NUS Lee Kuan Yew ScRecollecting the 1965 steely courage and unwaivering determination in the face of a reluctant Singapore's independence and unknown future.hool of Public Policies. Singapore remains the most connected country in the world, ranked 1st and 2nd for goods and financial connectivity, but 6th for data and 12th for people. Whilst businesses still found wanting for improvement in Digitalisation with SMEs alluding Covid for delay (ASME report, 2020).
Commenting at News analysis on how the SIngapore Hong Kong travel bubble is important to Investment Banking and Financial hub of both economies.
Fortitude - an unprecedented 4th Singapore budget amounting to $100b to battle an equivalently unparalleled crisis Covid 19, to save and propel economy, businesses and citizens.
The $33b Fortitude budget focuses on:
- Easing Cost, Cashflow, Credit and
- Digital Transformation.
Differentiating Singapore from the rest of the world has been the breath and depth of coverage. The budget not only relieves, extend cashflow lifeline for companies, but also aim at accelerating technology adoption.
Post Covid situation will see a new world order, new business norm, more telecommute, less commercial space demand, more virtual meetings, more online shopping and learnings. Those who sustain this crisis will be competitive.
This budgets features a broader and more granular coverage
- extension of rental waiver to 5 months (hawker)
- rebates to 2 months (commercial) and 1 month (industrial)
- 25-75% of JSS job supplements
- more granular coverage of sectors (Aerospace, MRO, marine, O&G, tourism etc)
- lending to fintech startups
- sponsoring interns to create jobs
4. Digital transformation
$5k E-payment situations for smallhold retailers and Hawkers.
Fortitide, an economic fort, to defend against Covid crisis, salvage businesses, jobs and people.
Representing Singapore at World Franchise Council and Asia Pacific Franchise Council at Abu Dhabi pitching to harmonise an international standard of Franchise Conference Framework as:
- quality mark,
- diagnostic kits
- capability building tools
to help worldwide SMEs to internationalise. The Franchise competence framework can also be used as a mediation framework for franchise disputes.
Also signed a MOU between Abu Dhabi Chamber Of Commerce, UAE-Singapore Business Council, witness by Undersecretary of Ministry of Economics HE Rashid al Qaibooshi and Ambassador HE Samuel Tan, to tie both strategic gateways to Asia and Middle East for more trade, investments and business exchanges.
Had conceived and developed the regional first Franchise Competency Framework. The objective of the Franchise Competency Framework is to grow enterprises and revenue through franchises. There are many advantages to growing a business through franchise. One of them being capital which is often a common barrier to expansion faced by businesses.
Franchise typically contributes some 6-15% of a developed economy GDP (e.g. US, France, Spain etc). Many companies have internationalize, scale and multiply leveraging on Franchise as a proven and systemized approach. It enlists the expertise of a local partner, shared risk, and reduced capital investment in entering new market. Franchising and Licensing Association (FLAS) will aspire to internationalize 100 Singapore brands in 3 years. Concurrently, Victor is developing at FLAS an inaugural national-level Franchise Competence Framework to help diagnose, build capabilities and internationalize companies.
Privileged to represent Singapore to participate at the World Franchise Council with some 32 countries of participants to explore and discuss issues on a franchising regulations, code of ethics and proposed a harmonized franchising competence framework worldwide.
Delivering a lecture on The Future of Technologies and Business Models to about 100+ audienceship of 55% senior management, with a privilged feedback of 60% excellent 32% very good. Many of the businesses found their needs to revitalise their business models if not technologies platform.
Delivering a strategic planning workshop with Malaysian top 5 real-estate developer. Exploring the competitive landscape of Proptech, RealEstate Tech, Blockchain, Virtual Reality, Built-to-Order apartment. Exploring the challenges of regulations, millennial stakeholders, changing demographics and disruptive technologies. It is not all about embracing technology. It is also about understanding your organization and your role in the ecosystem & working within the confines of regulation, capacity & capability. It's about creating the best fit for the foreseeable future!
To understand the impact of IR 4.0 in every organization, one must also look at your current organizational culture and how that resonates with change. In collaboration with Denison Consulting, have hosted participants across FMCG, Financial, Education,Franchise. Engineering Services with 360degree view of the impact of digitalization through an organizational culture survey.
Digitalisation has affected almost every industry across the globe, from AI to Robotics, IoT, etc. we need to navigate and seek provocative new insights by getting into the real world, actively observing, networking, and experimenting to generate valuable new ideas. This breakfast brainstorm session allows senior leaders in the region to share and take away valuable insights from each other
With women leaders in the industry, ranging from IBM CIO, FMCG CMO, President of Women Society emploring solutions to increase number of female leadership in the boardroom
Moderating the panel on Critical Success Factors of start-up entrepreneurs.
Attending international CSR Summit in Thailand, discussing on capabilities and sustainability issues within business communities and how a triple-helix model of Government, Private and Universities can seek solutions
Part of panel with MOS Ministry of Trade and Industry/ Ministry of Manpower Teo Ser Luck, SPRING Singapore, IDA and ASME highlighting that technology and innovation is key to being a significant differentiator for Singapore enterprises.
At the panel moderating a discussion with Senior Minister of State Sim Ann, SPRING Singapore, MOF, IDA on how Singapore entrepreneurs can interntionalise and leverage on consortium formation to access new international markets.