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Pursuit of Innovation
The pursuit of innovation in ST Electronics stems from its vision to be a global business, enabled by world-class solution offerings and with innovation as its competitive strength. The company believes that innovation come from all sources including its staff and that it occurs at every step in the business processes. Thus ST Electronics has placed emphasis in ensuring ample avenues to acquire ideas from all staff.
ST Electronics continues to rely on means such as suggestion schemes, Kaizen, EVA projects and innovation & quality circles to harvest innovative ideas — large and small. To complement them, ST Electronics has developed formal schemes to fund, encourage and reward ideas generation, exploration and the development into marketable offerings. These schemes include Exploration / Incubator Fund (EIF), Business Innovation Competition and Patent Awards. Each scheme is structured principally to minimise the screening, review, approval and implementation cycles.
Partnership in Innovations
An important aspect of innovation is the network of collaboration partners that ST Electronics constantly fosters. ST Electronics and these partners leverage on the other's strength, capabilities, ideas, insights, resources, technology and market access, resulting in mutual benefits.
ST Electronics has been a Singapore Innovation Class (I-Class) company since June 2003. The I-Class status, awarded by SPRING Singapore, recognises organisations that have achieved innovation excellence.
The ST Engineering group, of which ST Electronics is a member, attained the Singapore Innovation Class (I-Award) status in November 2003. The I-Award is the highest accolade conferred upon organisations with outstanding innovation capability as models of excellence for others to emulate.