On 3 February, global information and measurement company, Nielsen, announced a partnership between Nielsen and EDB to launch the Asia Innovation Centre in Singapore, in a bid to drive innovation and new technologies to address the unique and evolving information needs of organisations in Asia.
Nielsen has committed to an initial investment of S$14 million over five years in the establishment of the Asia Innovation Centre. The centre will look to hire 30 employees with expertise in areas of research, insights and data science and create collaborations with universities in Asia, as well as Singapore-based business associations and start-ups.
Nielsen CFO Samipendra Chaudhury commented that “this setup will allow us to leverage on Singapore's start-up ecosystem - with its abundance of innovative and new technologies - to find solutions for the market and (their) clients". Projects that have been identified for Nielsen and its collaborators include a card measurement platform tailored for the financial services sector, an e-commerce retail sales measurement platform, and retail distribution modelling service which leverages geo-satellite technology.
"Southeast Asia is a key growth engine in the coming years for many of our clients here in Asia and around the world, and with rapidly evolving digital behaviour across the region, there is growing demand for insights into the lifestyles, habits and purchasing behaviours of Asian consumers," said Cheong Tai Leung, president of Nielsen's Southeast Asia, North Asia and Pacific operations. He added: "It's no coincidence that we have chosen Singapore as the location for the Nielsen Innovation Centre ... it is the globally recognised hub of Southeast Asia with highly skilled talent, world-class infrastructure and a strong underlying commitment to innovation."
“The Asia Innovation Centre reinforces Singapore’s attractiveness as a pan-Asian consumer insights hub, where companies gain access to various methodologies and technologies that deepen their market understanding to drive regional innovation strategies.” Kevin Lai, executive director of Consumer Businesses at EDB added. “Global companies like Nielsen can tap into the region’s sophisticated demand base and Singapore’s infrastructure, to spearhead new technological products, solutions and services, strengthening Singapore’s position as the digital innovation capital of Asia,” Lai said.