CommerceNet Singapore
Encyclopedia
CommerceNet Singapore is a not-for-profit organisation
. It is part of the Palo Alto, California based global CommerceNet
consortium of business partners that organises resources from the industry, plans and executes key strategies. On its website, CommerceNet Singapore expressedly that they seek to sustain market initiatives that promote security, innovations and develop human, intellectual, financial and cultural capitals within the self-sustaining enterprise ecosystems.
In recent years, CommerceNet Singapore has also made a name for itself in assisting and turning around failing technopreneurs and entrepreneurs; reviving start ups and advising corporate entities in financial difficulties often prior to their bankruptcies. It has become one of rare organisation acting as a place of last resort for those seeking assistance in Singapore.
, the consortium is known to operate beyond its territory. As most members of the consortium are MNCs operating out of Singapore, CommerceNet Singapore follows its members to new markets regionally. This anomaly occurred as Singapore is known to host the 'operation headquarters' of many MNCs.
CommerceNet Singapore has established a reputation as a neutral technology facilitator and catalyst. It helps create environments that encourage the flow of new ideas
and concepts. Initial activities include creating a unified eCommerce and eBusiness movement. It is now the leading independent non-profit technology organisation in ASEAN. Member-driven initiatives today include diverse test-beds that advance eBusiness, industry-wide strategic initiatives, creation of business value, advanced education, mediation and certification worldwide. Among some of its better known certification is the TrustSg initiatives. It is one of the few organization still actively promoting online commerce in Singapore and ASEAN.
In a strong departure from its earlier years, from 2006, CommerceNet Singapore had refocused to take on and implement a portfolio mix of long-term and short-term initiatives. Among the initiatives requested by its members are those of high-risk, untried and theoretical ideas that fulfil the promise of the general commercialisation of technologies, especially pertaining to the Internet, and project finance.
The structure of CommerceNet Singapore is designed to be neutral, allowing it tap market intelligence for more effective decision-making. New complex programmes are usually designed, redefined during incubation process or when implemented by CommerceNet Singapore. The projects are usually for industry-wide application, with focus often resulting to lowering of transaction costs and allowing the creation of new categories of products and services.
Fundings for the consortium come largely from sponsorships, membership dues, government grants, pilot projects grants as well as project management fees.
The protem committee of CommerceNet Singapore signed the Global Partner MOU
with CommerceNet. That brought Singapore member companies into the fold of the 500-strong CommerceNet members worldwide. The consortium also sits on Global Electronic Commerce Board (GECB). Following the MOU, CommerceNet Singapore was formed and incorporated in February 1998 as a not-for-profit public company limited by guarantee
. Among the key initiators are entrepreneur Mr. Charlie Tan assisted by Dr. Toh See Kiat, a prominent former Member of Parliament in Singapore
.
The first inaugural board meeting was held in March 1998. Membership grew rapidly, and by April 1998, the consortium achieved 20 funding members. The consortium sent its representatives to GECB meeting in Amsterdam
in April 1998. The first corporate members' meeting was held in May 1998, setting the tone and pace of the consortium in Singapore. CommerceNet Singapore become the first Singapore organisation to launch XML
and Metadata
seminar, held in November 1998. The high-profile international seminar attracted a keen following with more and more industry players joining the consortium.
The consortium set its sights beyond its members and launched a Common Accreditation Scheme to Enhance Trust known as "CaseTrust" in collaboration with Retail Promotion Centre and Consumer Association of Singapore in April 1999. It was a founding partner in Global Trustmark Alliance with BBBOnLine.
The consortium was actively promoting intellectual property protection, sitting on IP Taskforce and had worked with Business Software Alliance (BSA) to achieve its goal.
The common investment quantum varies from bite-size US$100,000 to syndicated US$10,000,000 for technological projects that has an industry-wide impact. Smaller amounts are usually given out as one-off grants, mostly to Singapore- and ASEAN-based companies. More than 515 companies in Singapore alone had received grants from CommerceNet Singapore from 2005 to end-2007, with the bulk approved for e-commerce and trustmark certification projects.
, SEDB
, Singapore IDA
and others including private sector industrial R&D Labs as well as universities, colleges and institutes of higher learning. CommerceNet Singapore also played an active role in Asia Trustmark Alliance (ATA) and work closely within ATA framework with bodies like GBDe.
Non-profit organization
Nonprofit organization is neither a legal nor technical definition but generally refers to an organization that uses surplus revenues to achieve its goals, rather than distributing them as profit or dividends...
. It is part of the Palo Alto, California based global CommerceNet
CommerceNet
CommerceNet is a 5016 organization established in 1994 to promote electronic commerce on the Internet. The organisation initially focused on industry-wide research and programs that have advanced the commercial use of the Internet.-History:...
consortium of business partners that organises resources from the industry, plans and executes key strategies. On its website, CommerceNet Singapore expressedly that they seek to sustain market initiatives that promote security, innovations and develop human, intellectual, financial and cultural capitals within the self-sustaining enterprise ecosystems.
In recent years, CommerceNet Singapore has also made a name for itself in assisting and turning around failing technopreneurs and entrepreneurs; reviving start ups and advising corporate entities in financial difficulties often prior to their bankruptcies. It has become one of rare organisation acting as a place of last resort for those seeking assistance in Singapore.
Goals
The consortium has been involved actively in initiatives that pioneer and advance new and usually untested technology. The consortium's main aim is to keep up a strategic role as a pilot project initiator. They usually influence and encourage innovation and driving progress in new areas of operation through grants, market access and other technical assistance. Although the name implies the geographic region of SingaporeSingapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
, the consortium is known to operate beyond its territory. As most members of the consortium are MNCs operating out of Singapore, CommerceNet Singapore follows its members to new markets regionally. This anomaly occurred as Singapore is known to host the 'operation headquarters' of many MNCs.
CommerceNet Singapore has established a reputation as a neutral technology facilitator and catalyst. It helps create environments that encourage the flow of new ideas
Idea
In the most narrow sense, an idea is just whatever is before the mind when one thinks. Very often, ideas are construed as representational images; i.e. images of some object. In other contexts, ideas are taken to be concepts, although abstract concepts do not necessarily appear as images...
and concepts. Initial activities include creating a unified eCommerce and eBusiness movement. It is now the leading independent non-profit technology organisation in ASEAN. Member-driven initiatives today include diverse test-beds that advance eBusiness, industry-wide strategic initiatives, creation of business value, advanced education, mediation and certification worldwide. Among some of its better known certification is the TrustSg initiatives. It is one of the few organization still actively promoting online commerce in Singapore and ASEAN.
In a strong departure from its earlier years, from 2006, CommerceNet Singapore had refocused to take on and implement a portfolio mix of long-term and short-term initiatives. Among the initiatives requested by its members are those of high-risk, untried and theoretical ideas that fulfil the promise of the general commercialisation of technologies, especially pertaining to the Internet, and project finance.
The structure of CommerceNet Singapore is designed to be neutral, allowing it tap market intelligence for more effective decision-making. New complex programmes are usually designed, redefined during incubation process or when implemented by CommerceNet Singapore. The projects are usually for industry-wide application, with focus often resulting to lowering of transaction costs and allowing the creation of new categories of products and services.
Fundings for the consortium come largely from sponsorships, membership dues, government grants, pilot projects grants as well as project management fees.
History
The CommerceNet consortium history in Singapore is well documented. Its early days saw the consortium engaging many of the industry players in its daily activities. This has brought in large amount of financing to the consortium allowing it to grow rapidly.The protem committee of CommerceNet Singapore signed the Global Partner MOU
Memorandum of understanding
A memorandum of understanding is a document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in...
with CommerceNet. That brought Singapore member companies into the fold of the 500-strong CommerceNet members worldwide. The consortium also sits on Global Electronic Commerce Board (GECB). Following the MOU, CommerceNet Singapore was formed and incorporated in February 1998 as a not-for-profit public company limited by guarantee
Company limited by guarantee
In British and Irish company law, a private company limited by guarantee is an alternative type of corporation used primarily for non-profit organisations that require legal personality. A guarantee company does not usually have a share capital or shareholders, but instead has members who act as...
. Among the key initiators are entrepreneur Mr. Charlie Tan assisted by Dr. Toh See Kiat, a prominent former Member of Parliament in Singapore
Members of the Singapore Parliament
The following is a historical list of members for the current and past ten Parliaments of Singapore:-See also:*1st Parliament of Singapore*2nd Parliament of Singapore*3rd Parliament of Singapore*4th Parliament of Singapore*5th Parliament of Singapore...
.
The first inaugural board meeting was held in March 1998. Membership grew rapidly, and by April 1998, the consortium achieved 20 funding members. The consortium sent its representatives to GECB meeting in Amsterdam
Amsterdam
Amsterdam is the largest city and the capital of the Netherlands. The current position of Amsterdam as capital city of the Kingdom of the Netherlands is governed by the constitution of August 24, 1815 and its successors. Amsterdam has a population of 783,364 within city limits, an urban population...
in April 1998. The first corporate members' meeting was held in May 1998, setting the tone and pace of the consortium in Singapore. CommerceNet Singapore become the first Singapore organisation to launch XML
XML
Extensible Markup Language is a set of rules for encoding documents in machine-readable form. It is defined in the XML 1.0 Specification produced by the W3C, and several other related specifications, all gratis open standards....
and Metadata
Metadata
The term metadata is an ambiguous term which is used for two fundamentally different concepts . Although the expression "data about data" is often used, it does not apply to both in the same way. Structural metadata, the design and specification of data structures, cannot be about data, because at...
seminar, held in November 1998. The high-profile international seminar attracted a keen following with more and more industry players joining the consortium.
The consortium set its sights beyond its members and launched a Common Accreditation Scheme to Enhance Trust known as "CaseTrust" in collaboration with Retail Promotion Centre and Consumer Association of Singapore in April 1999. It was a founding partner in Global Trustmark Alliance with BBBOnLine.
The consortium was actively promoting intellectual property protection, sitting on IP Taskforce and had worked with Business Software Alliance (BSA) to achieve its goal.
Projects
- Curriculum Development
- Specialist Diploma Priogrammes
- ePublic Eye
- CaseTrust
- ConsumerTrust
- BusinessTrust
- PrivacyTrust
- TrustSg
- BSA Business Software Alliance Initiatives
- Market Intelligence Reports
- iTeknoCity
- ITCN Asia
- E-Global Conference
- E-Global Awards
- Singapore National Infocomm Awards
- PRT Assistance Programme
- Digital Printing Promotion
- Dadabhoy University
- Online Gaming Initiatives
Investments
One specialty of CommerceNet Singapore is its ability to arrange funding for very early-stage and very high-risk projects. It has built a very close working relationship with CNSG Consulting Group, which consists mostly of ex-CommerceNet Singapore's consultative partners, or CPs.The common investment quantum varies from bite-size US$100,000 to syndicated US$10,000,000 for technological projects that has an industry-wide impact. Smaller amounts are usually given out as one-off grants, mostly to Singapore- and ASEAN-based companies. More than 515 companies in Singapore alone had received grants from CommerceNet Singapore from 2005 to end-2007, with the bulk approved for e-commerce and trustmark certification projects.
Partners
CommerceNet Singapore collaborates actively with international consortia and agencies like KIEC, KOTBA, KOTRA, JIPDEC, ECOM, IE SingaporeInternational Enterprise Singapore
International Enterprise Singapore , or IE Singapore, is a statutory board under the Ministry of Trade and Industry of the Singapore Government that facilitates the overseas growth of Singapore-based companies and promotes international trade.-Purpose:...
, SEDB
Economic Development Board
-Overview:The Economic Development Board is a statutory board of the Government of Singapore that plans and executes strategies to sustain Singapore as a leading global hub for business and investment....
, Singapore IDA
Infocomm Development Authority of Singapore
The Infocomm Development Authority of Singapore is a statutory board of the Singapore Government, under the Ministry of Information, Communications and the Arts .-History:...
and others including private sector industrial R&D Labs as well as universities, colleges and institutes of higher learning. CommerceNet Singapore also played an active role in Asia Trustmark Alliance (ATA) and work closely within ATA framework with bodies like GBDe.