To register a company in Singapore, you will need to go through Accounting and Corporate Regulatory Authority (ACRA), which manages the registration of businesses in Singapore. Setting up a business in Singapore is hassle-free and simple; all applications are submitted online, and companies are usually registered in no longer than fifteen minutes. The registration fee is $65 Singaporean dollars (registration fee of S$50 and name approval fee of S$15). And when you already know how to set up a company in Singapore, you will now search ways for your business to be successful. Nowadays, when almost every data can be found on the internet, companies are keener in seeking information to have a better understanding about their customers and to yield positive feedbacks. All we need is analytics to make this happen. Recently, the Agency for Science, Technology and Research (A*STAR) and the Infocomm Development Authority of Singapore (IDA) has teamed up and opened the Business Analytics Translational Centre (BATC) last September 19, 2012. Business Analytics Translational Centre (BATC) helps businesses drive bottom-line growth. A*STAR is Singapore’s pioneer public sector agency that perpetuates world-class researches, which aim to transfigure Singapore into a prosperous and innovated economy. IDA, on the other hand, is committed in making Singapore a global infocomm hub through nurturing competitive telecom markets.
“In today’s highly connected society and competitive economy, organizations are looking to data to better understand their customers and achieve their goals. Analytics is the key to deriving value from these data collected. We are pleased to work with A*STAR to set up the BATC as a focal point for users and developers of analytics technologies to tap on the analytics’ intellectual property and capabilities available here today. We look forward to BATC’s contribution to strengthen the availability and adoption of analytics in Singapore,” Mr. Ronnie Tay said, the Chief Executive Office of IDA. “BATC’s value proposition is to translate ideas and knowhow created in our SERC research institutes and universities into real-world applications for use by industry. As a platform for private-public partnerships and technology transfer, BATC will also be able to attract companies to grow their business analytics efforts and attract companies interested in this area to Singapore,” said Dr. Raj Thampuran, the Managing Director of A*STAR.
BATC will work with IDA to encourage organizations and government agencies in developing BATC to perform the analytics strategically and to also manage business strategies and plans correctly using BATC’s analytic capabilities. Another function of BATC is to give opportunities to IT professionals, researchers, engineers, and business analysts to extend the industry of business analytics. “BATC is a meaningful contribution from A*STAR and IDA to help both the public and private sectors innovate in their work processes to achieve greater productivity. It is also a useful demonstration of how public-public collaboration can establish impactful value-creating platforms for our economy,” Mr. Lim Chuan Poh, the Chairman of A*STAR, said.
A Memorandum of Understanding will also be signed between BATC and its partners in industry. This will unveil the economic potential of the intellectual properties available in the research institutes. Companies that will use BATC’s facility will include the Ministry of Law to develop analyticity to improve the ministry’s management, thus enabling it to impose effective policies and operations. If you want to register your company in Singapore and wonder how to set up a company there, you won’t have to worry about analyzing data because BATC will now do that for your business venture. BATC will surely improve your business through data analytics, even if you are only a starter.