IMDA Is Offering Over $1.2Mil In Prize Money On Their Open Innovation Platform

IMDA’s Open Innovation Platform Seeks Tech Solutions For Business Owners

As businesses overcome new challenges in the pandemic, they’ve had to turn to novel methods of operations that often involve technology.

But to do so, they’d need the help of experts, who may be hard to find. That’s where an Open Innovation Platform (OIP) comes in handy, pooling tech-savvy problem solvers and matching them with companies who need their help.

The Infocomm Media Development Authority (IMDA) has launched just that, promising attractive cash prizes for winning solutions.


Not only will winners get a windfall, but they’ll also stand to receive funding for their future plans and projects.

Here’s how you can start matching up and making a change.

Open Innovation Platform connects businesses with problem solvers

For many business owners, the saying “if it ain’t broke, don’t fix it” may have worked over the years. 

However, with technological advancements coming aplenty, it won’t be long before you are left in the dark by your forward-thinking competitors. 

Be it SMEs, large enterprises, or even government agencies, there are opportunities for businesses and operations to go digital.


And OIP seamlessly allows businesses in need to connect with tech whizzes who could be the answer to their problems. This way, businesses can cut down costs of handling the crowdsourcing themselves.

Organisations such as Huawei, F&N and even Mediacorp have sought the expertise of over 10,000 problem solvers via the platform. 


Problem solvers turn their ideas into prototypes for evaluation

On the other side, problem solvers are the brains behind the brawns. They are the trailblazers who have spearheaded their innovations onto the world.

However, as with anything else, competition is fierce, and it may be hard to get your sales pitch across to a willing audience. 

With OIP, you can easily bring your expertise to business owners with real-life challenges pertaining to topics like media and enterprises. 

An example of a media challenge

An example of an enterprise challenge

Convert your ideas into a prototype designed to fix their problem, and you could stand a chance to be rewarded with the attached prize money. 

With the funding and collaboration, you can then scale your operations further and get a leg up with the newfound customer reference. 

Fake News Guard a success story from OIP

An example of a successful match between a problem solver and problem owner would be between Singapore Press Holdings (SPH) and London-based data engineer Ms Mattia Spinelli.

Back in 2018, SPH had launched a call seeking problem solvers to develop a solution to help the public better discern between fake news and real news.

While problem-solvers around the world developed a total of 12 concepts, Ms Spinelli’s solution, aptly named Fake News Guard, stood out for its robustness, relevance and scalability.

The platform relies on data and machine learning to link news topics with published newspaper articles. She was also awarded $20,000 as promised.

Open Innovation Platform’s 10th call ends on 31 Jul

Start making a real change, one challenge at a time. Submissions for OIP’s 10th call is now open and is running till 31 Jul.

The initiative presents 27 new challenges, each accompanied by prize money of up to $50,000.

For innovative tech problem solvers, you can check out the list of challenges and keep up-to-date on their website.

Everything you need to know to get started is here.

Seeking innovative tech solutions for real challenges

Even in these difficult times, organisations are looking towards the future and seeking creative solutions to make the world a better place.

If you’ve got the ability to make a change, why not start helping some of these businesses out with their problems? You could very well be the catalyst for the next tech trend to sweep the world.

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Featured image by MS News. 

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