KPMG has launched a corporate accelerator- KPMG Digital Village x TAG.PASS, to help corporates adopt innovative solutions.
The accelerator will be run by KPMG Digital Village and taps into the TAG.PASS programme, which is offered by the $200-million fund manager Infocomm Investments Pte Ltd (IIPL).
The latest partnership with KPMG is expected to facilitate access to an industry-wide network of start-ups, companies and solutions on their innovation journey.
This comes just five months into the KPMG Digital Village’s inception in response to the needs of its ecosystem of partners, corporates and startups in their approach to digital innovation, and the gaps they encounter along the way.
Lyon Poh, head of Digital + Innovation KPMG in Singapore, said, the new programme will serve as addition to the curation of innovative solutions to meet market needs.
“The KPMG Digital Village x TAG.PASS programme will focus on helping companies realise the fruits of their efforts to embrace innovation through an agile, iterative three-month cycle,” Poh said.
Since its launch in April 2016, the KPMG Digital Village has attracted a host of ecosystem partners who share the same belief that collaboration is the way to go to accelerate the adoption and commercialisation of innovative solutions.
KPMG disclosed the innovation cycle of corporates working with start-ups has shifted from tech scanning or investing in a corporate accelerator to one that looks at a more holistic innovation venture.
KPMG Digital Village head Jan Reinmueller said the KPMG Digital Village x TAG.PASS programme will help to guide companies on their innovation journey based on each corporate’s objectives.
“Whether they are looking to solve aspecific issue within the organisation or developing solutions around a focus area, our team will advise corporates on their approach, either via a corporate venture or co-innovation with start-ups,” Reinmueller said.
According to IPPL head Alex Lin, acceleration is still the best way to help start-ups pin down their product-market-fit, and a programme like the KPMG Digital Village x TAG.PASS helps start-ups achieve that by pairing them with corporates, opening up co-innovation opportunities, and access to customers and markets.
“As we move through different generations of our ecosystems, the institutionalised knowledge of building start-ups found in accelerators is now being decentralised throughout the ecosystem. The shift from commercial to corporate accelerators is a result of that,” Lin said.
He added IIPL is now in transition into the next generation of ecosystem building, and a programme that mutually benefits both corporates and start-ups.
The KPMG in Singapore is part of a global network of professional services firms providing audit, tax and advisory services. The KPMG network operates in 155 countries, with more than 174,000 people working in member firms around the world.
In the ASEAN region, member firms operate across all 10 countries of this regional grouping providing professional services supporting the growth, compliance and performance objectives of clients.
The independent member firms of the KPMG network are affiliated with KPMG International Cooperative, a Swiss entity. Each KPMG firm is a legally distinct and separate entity.