"FIRST OF ITS KIND" BSI INNOVATION LAB OPENS IN SINGAPORE

SINGAPORE,Jan. 18,2022 -- A brand-new innovation lab will give organizations around the world the chance to harness the knowledge and expertise of BSI,the business improvement and standards company,to create innovative new technological and digital solutions.

The lab opens its doors today in LaunchPad @ one-north,joining the vibrant ecosystem of more than 800 startups and 50 enablers from an array of industries ranging from biomedical sciences,infocomm,media,to urban solutions,electronics and engineering.It is the first of its kind for BSI,an organization with a celebrated history in helping businesses overcome challenges,implement best practice and improve their resilience. Thefacility will function as a creative environment,with companies given the chance to design,experiment with and co-develop digital innovations to create new solutions for their business.

Harold Pradal,Chief Commercial Officer at BSI,said,"The opening of our innovation lab in Singapore is a statement confirming our intention to rapidly multiply the number of projects we are leading and supporting in the Asia Pacific region.

"We are opening our doors and inviting others to take advantage of our 120 years of expertise and knowledge. Our mission here is to develop partnerships that enable organisations to be more sustainable,digitally trusted and ultimately more resilient – by accelerating the adoption of new technologies that enable concrete improvements for society."

The lab offers a physical collaborative space for clients and partners,providing an opportunity to embrace new concepts and create new ideas. It represents an enticing offer for start-ups and companies seeking to accelerate the development of emerging and disruptive technologies. Equally,for more established organizations,including Small and Medium Enterprises (SMEs),larger organizations and institutions it provides opportunities to collaborate in technological development as well as partnership and investment. For academic institutions and government agencies,BSI's market-leading expertise will deliver opportunities for industry and collaboration,including job opportunities and education and training.

Ms Linda Sein,Senior Vice President,Investment Facilitation,Singapore Economic Development Board (EDB),said: "We congratulate BSI on the opening of their innovation lab in Singapore. BSI's decision to set up the lab here is a testament to Singapore's position as a global business and innovation hub. We believe BSI's innovation lab will contribute to advancing new technological solutions and digital capabilities for companies in Singapore and the region."

Alvin Tan,Assistant Chief Executive Officer,Industry Cluster Group,JTC,"We are pleased that BSI has chosen LaunchPad @ one-north to set up their innovation lab. With close proximity to knowledge-based companies,institutes of higher learning and research institutes from a myriad of industry sectors,we look forward to knowledge-sharing and collaborative partnerships amongst BSI and the players in the LaunchPad ecosystem."

The Infocomm Media Development Authority of Singapore (IMDA) helped BSI kickstart its Innovation Lab with an "Audit 4.0" Innovation Call in November 2021. Through IMDA's Open Innovation Platform,BSI developed three problem statements and were matched with innovative start-ups in the ecosystem. The winning startups LexaTexer – Enterprise AI,Augmenteed and Tail Risk Analytics,won $90,000 of prize monies and will develop their prototypes at the BSI Innovation Lab. This is part of IMDA's efforts to partner innovation labs with an international reach,to help tech companies in Singapore commercialise their prototypes and market these products internationally.

Justin Ang,Assistant Chief Executive for Media,Innovation,Communications & Marketing at IMDA,said,"IMDA's Open Innovation Platform is Singapore's national platform for digital innovation. I am excited about the first of our collaborations with BSI to match them to start-ups with innovative solutions for their 'Audit 4.0' business. We look forward to more collaborations with companies like BSI to create a vibrant ecosystem in Singapore that supports the next wave of tech companies."

To find out more about BSI and these facilities,visitwww.bsigroup.com.

About BSI

BSI is thebusiness improvement and standards companythat enables organizations to turn standards of best practice into habits of excellence,'inspiring trust for a more resilient world'. For over a century BSI has driven best practice in organizations around the world. Working with over 77,500 clients across 195 countries,it is a truly global business with skills and experience across all sectors including built environment,energy,food & retail,government,healthcare,ICT,manufacturing and transport & mobility.

Through its expertise in Standards and Knowledge,Assurance Services,Regulatory Services and Consulting Services,BSI helps clients to improve their performance,grow sustainably,manage risk and ultimately become more resilient.

To learn more,please visit: www.bsigroup.com.