Global IT firm Nielsen Tuesday announced that it was collaborating with the Singapore Economic Development Board (EDB) in a joint venture to launch a new Singapore-based innovation hub, the Asia Innovation Centre (AIC). It will be modelled after their US-based Innovation Lab, a collaboration with Stanford Graduate School of Business.
An initial investment of S$14 million, spread out over five years, has been committed by Nielsen, which will go towards hiring approximately 30 employees with expertise in research and data science. The AIC will also partner universities in the Asia-Pacific, as well as collaborate with Singapore-based startups and business associations.
The primary focus of the AIC will lie in research and measurement techniques addressing the evolving information needs of organisations operating in Asian markets. Singapore was chose as the globally recognised hub of South-east Asia, with a confluence of highly-skilled talent, superlative business infrastructure and a strong commitment to innovation on the government’s part.
Some projects already identified for further pursuit include a card measurement platform for the financial services (FINSERV) sector in the Asia-Pacific and an e-commerce retail sales measurement platform to capture and report on the volume and value of online sales transactions.
Also in the world are a retail distribution modelling service that leverages on geo-satellite technology. This information will assist with enhanced product distribution and route-to-market strategies.
“South-east 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 South-east Asia, North Asia and Pacific operations.
Image: Flickr/Dan Mason