Padang & Co

What Padang & Co does

Padang & Co is a Singapore-headquartered open innovation services company that designs and delivers bespoke programmes connecting corporations and government agencies with startups and innovators across Southeast Asia and Australia. Founded in 2013 (with operating roots in the 2012 UP Singapore hackathon), the firm offers five configurable service lines — Innovation Challenges, Innovation Landscapes, Acceleration Programmes, Hackathons, and Go-to-Market Programmes — that map to a four-stage innovation lifecycle (Explore, Engage, Experiment, Execute) and are deployed across three verticals (Food & Agriculture, Cities & Industries, Health) with the Green Economy as a horizontal theme. Core proprietary assets include the annual Southeast Asia Green Economy Landscape (mapping 1,089 startups and SMEs across 6 countries and 7 sectors), the refInsights refrigerant-management platform developed with Mansfield Advisory and Veridian, and The Delta digital ecosystem platform.

The business operates on a project-based, quote-driven professional services model. Revenue is generated primarily by designing and running innovation challenges, acceleration cohorts and hackathons for enterprise and government sponsors, supplemented by grant funding (e.g., refInsights under the Singapore-Australia Go-Green Co-Innovation Programme), and research-report-driven lead generation. Customer concentration is anchored on Singapore statutory boards (Enterprise Singapore, BCA, JTC, PUB, LTA, MINDEF, MOH, SkillsFuture) and large multinationals (OCBC, Prudential, IAG, Cargill, Rabobank, Rolls-Royce, Grab, TotalEnergies, ADM, Bayer); international trade bodies (Investment NSW, Global Victoria, Energy Systems Catapult) act as channel partners for cohort-based market-entry programmes. Distribution is exclusively direct enterprise sales, with no self-service offering or app-store presence.

The firm is privately held with no disclosed institutional funding, a named leadership team led by co-founders Adam A. Lyle (Executive Chairman) and Derrick Chiang (CEO), and a total headcount in the 11-50 band. Service delivery is supported by an extensive partner network spanning hyperscalers (AWS, Microsoft), research institutes (A*STAR, CSIRO, NUS), accelerators (Greenhouse, BeyondX) and multilateral lenders (IFC, ADB Ventures, MUFG), giving the model a high operating leverage on a deliberately small core team.

Name

Padang & Co

Legal name

Padang & Co

Website

https://padang.co

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Padang & Co is a Singapore-headquartered open innovation firm that designs and delivers programmes — challenges, acceleration cohorts, hackathons, go-to-market missions and innovation landscapes — connecting corporations, government agencies and trade bodies with startups across Southeast Asia and Australia, anchored in the Green Economy.

Ownership category

akta.pro rank

Product category

Corporate Open Innovation Services

NAICS

Scientific Research and Development Services (5417), Environmental Consulting Services (54162), Professional, Scientific, and Technical Services (541)

SIC

Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Circular Economy & Resource Efficiency (BPADALAM)

Keywords

• Open innovation services
• Innovation challenges
• Acceleration programmes
• Corporate innovation consulting
• Hackathon design

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Innovation Programme Services: Padang & Co generates revenue by designing and delivering bespoke innovation programmes for corporate and government clients. Services include innovation challenges, acceleration programmes, hackathons, go-to-market programmes, and innovation landscapes. Revenue is project-based, typically scoped per engagement with corporate partners or sponsoring government agencies.
2. Research Reports and Landscape Studies: Annual publications such as the Southeast Asia Green Economy Landscape are made available through download (requiring contact information submission), serving as lead generation for services while potentially generating licensing or partnership revenue for research findings.
3. refInsights Grant Funding: refInsights is a grant awardee under the Go-Green Co Innovation Programme, a key initiative under the Singapore-Australia Green Economy Agreement. This represents grant funding for developing the refrigerant management platform.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels8 records

Core offering

Padang & Co designs and delivers bespoke open innovation programmes for corporations and government agencies across Southeast Asia and Australia. Its core offerings include Innovation Challenges, Acceleration Programmes, Hackathons, Go-to-Market Programmes, and Innovation Landscapes, all built on a proprietary Explore-Engage-Experiment-Execute methodology and focused on the Green Economy verticals of Food & Agriculture, Cities & Industries, and Health. The company also publishes the annual Southeast Asia Green Economy Landscape research report.

Product overview

Padang & Co is a Singapore-headquartered Open Innovation company founded in 2013 that designs and delivers five core services: Innovation Challenges, Innovation Landscapes, Acceleration Programmes, Hackathons, and Go-to-Market Programmes. These services are offered as 'Innovation-as-a-Service' and can be mixed and matched to suit client needs. The company focuses on three interconnected verticals -- Food & Agriculture, Cities & Industries, and Health -- with sustainability as the horizontal thread. The company also produces the annual Southeast Asia Green Economy Landscape report mapping startups and SMEs across the region. Operations span Southeast Asia and Australia, with the company headquartered at BeyondX building in Singapore.

Differentiator

Problem solved

Functional benefit

Brands

• UP Singapore: A community movement and series of civic hackathon events organised by Padang & Co since 2012, bringing together public, private, and people sectors to tackle urban challenges and build a more liveable, sustainable Singapore.
• refInsights

Products and services

• Innovation Challenges Open innovation programme designed to source best-fit startups globally to address specific business problems, structured around a clear outcome — most often a pilot with a selected startup. Offered to corporations and government agencies seeking external innovation sourcing.
• Acceleration Programmes Structured process in which a corporate and selected startups co-create, test, and validate solutions to defined business problems or opportunities, with the goal of reaching a pilot. Corporate partners invest in the process from defining the opportunity through to executing the pilot.
• Hackathons High-energy, time-boxed events where participants develop ideas in response to a problem or opportunity statement, stress-test their thinking, and present prototypes to a judging panel. Offered as internal or open community formats for corporations, government agencies, and ecosystem partners.
• Go-to-Market Programmes Structured market entry programme designed to help cohorts of startups and SMEs land in Southeast Asia and find their first partners or customers, with curated introductions, structured meetings, and ongoing support for pilots and partnerships. Typically sponsored by international trade bodies and innovation organisations.
• Innovation Landscapes Bespoke research engagement that maps emerging technologies, startups, trends, and ecosystem players relevant to a specific sector, technology domain, or geography, delivered within two to four months. Used by corporations and government agencies for strategic decision-making.
• Southeast Asia Green Economy Landscape 2025 Annual research report published by Padang & Co mapping 1,089 startups and SMEs across seven key sectors (Nature, Agriculture & Food, Energy Transition, Climate Markets & Enablers, Built Environment, Transportation & Logistics, Circular Economy & Waste, and Industrial Decarbonisation) in six Southeast Asian countries, identifying over 200 innovation opportunities. The 2025 edition covers Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.
• UP Singapore Community movement and series of civic hackathon events organised by Padang & Co since 2012, bringing together public, private, and people sectors to tackle socio-economic and environmental challenges facing cities. Served as the founding initiative for the company's Open Innovation approach.
• The Delta Digital platform operated by Padang & Co as part of their innovation ecosystem initiatives, providing an online presence for community engagement and innovation programme support.
• refInsights Platform Integrated service and technology platform developed with Mansfield Advisory and Veridian Refrigerant Management to actively reduce refrigerant leakages and fugitive emissions. Enables tracking, recovery, and reuse of used refrigerants and drives industry participation in end-to-end refrigerant lifecycle management.

Quantifiable outcome

• 200+ programmes delivered since 2012 connecting corporations and government with startups
• +4 more outcomes

Named customers20 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

48 partnerships are on record, tiered core, major and minor.

• GreenhousecoreStrategic or Co-development PartnerGreenhouse is a leading climate innovation ecosystem headquartered in Sydney, connecting industry, government, investors, and startups to accelerate climate solutions. It is Padang & Co's home in Australia, providing co-working space and ecosystem access. Through Greenhouse, Padang & Co participates in programmes, initiatives, and global climate innovation challenges focused on decarbonising hard-to-abate sectors.
• BeyondXcoreStrategic or Co-development PartnerBeyondX is a startup incubator dedicated to empowering the next generation of built environment entrepreneurs. It provides startups with resources, mentorship, and strategic backing. The BeyondX building is home to Padang & Co's Singapore headquarters.
• SingHealth Duke-NUS Global Health InstitutemajorStrategic or Co-development PartnerPartnership for the Regional Health Innovation Hackathon, bringing together 14 teams from healthcare organisations across Asia to tackle the impact of climate change on healthcare.
• A*STAR (Agency for Science, Technology and Research)majorStrategic or Co-development PartnerPartnership for A*STAR Makeathon incubation programme for researchers to accelerate ideas into prototypes, tackling challenges in waste, plastics, energy, and personalised health. Also collaborated on CSIRO Precision Health workshop.
• Healthcare Institutions (HMI, NHG, NUHS, SingHealth, St Luke's)majorStrategic or Co-development PartnerCollaborative partnership with Singapore's three healthcare clusters (HMI, NHG, NUHS, SingHealth, St Luke's) and institutions for the Healthcare Open Innovation Challenge, improving processes and patient engagement.
• Grow AsiamajorStrategic or Co-development PartnerStrategic partnership with Grow Asia presenting the Digital Learning Series, bringing together corporate leaders, AgriTech startups, and ecosystem enablers to discuss emerging technologies and uncover opportunities for digital solutions for smallholder farmers. Also collaborated on Directory Showcase.
• RabobankmajorStrategic or Co-development PartnerPartnership on SustainableAg Asia Challenge with Rabobank and Rabo Foundation, matching corporate partners (ADM, Bayer, DSM, Olam, Temasek) with startups for agrifood supply chain sustainability. Also Food Loss Challenge Asia.
• CargillmajorStrategic or Co-development PartnerPartnership through SustainableAg Asia Challenge and Decent Rural Living Initiative (with PepsiCo) for agricultural worker PPE solutions in Asia.
• Building and Construction Authority (BCA)majorStrategic or Co-development PartnerPartnership on Built Environment Accelerate to Market Programme with Enterprise Singapore and JTC, providing a platform for innovators to connect with built environment players and solve industry challenges.
• Enterprise SingaporecoreStrategic or Co-development PartnerStrategic partnership with Singapore's government agency for trade and innovation. Enterprise Singapore sponsors multiple innovation programmes including the Sustainability Open Innovation Challenge, Southeast Asia Open Innovation Challenge, Defence Innovation Challenge, and Healthcare Open Innovation Challenge.
• PrudentialmajorStrategic or Co-development PartnerPartnership on Prudential AI Lab Accelerator, a platform for startups to build solutions scalable across the organisation in partnership with Prudential's AI Lab.
• International Finance Corporation (IFC)majorStrategic or Co-development PartnerPartnership on IFC AgTech Vietnam programme for global startups/scale-ups to partner with Vietnamese agribusinesses to localise and test solutions for rice, coffee, or pepper farmers.
• Public Utilities Board (PUB)majorStrategic or Co-development PartnerPartnership for Predicting Future Choices Challenge and PUB Global Innovation Challenges, sourcing solutions in water and adjacent industries for sensors, monitoring, automation, and process control technologies.
• OCBC BankmajorStrategic or Co-development PartnerPartnership on OCBC Sustainability Innovation Challenge with TotalEnergies, matching solutions in EV batteries and charging, distributed energy systems, and green manufacturing materials.
• Mansfield AdvisoryminorStrategic or Co-development PartnerConsortium partner with Veridian Refrigerant Management for the refInsights project, a grant awardee under the Go-Green Co Innovation Programme, developing a refrigerant management platform.
• Veridian Refrigerant ManagementminorStrategic or Co-development PartnerConsortium partner with Mansfield Advisory for the refInsights project to develop refrigerant tracking, recovery, and reuse platform.
• Investment NSWmajorGTM or Marketing PartnerPartnership to connect Australian startup cohort in energy and circular economy with potential partners and customers in Malaysia and Singapore through the Go Global Cleantech Mission.
• Energy Systems Catapult (UK)majorGTM or Marketing PartnerPartnership for Innovating for Net Zero Buildings programme, connecting UK startup cohort to potential partners and customers in Singapore, with ongoing support for pilots and commercial partnerships.
• Global Victoria (Australia)majorGTM or Marketing PartnerPartnership for Sustainability Mission to Singapore, connecting Australian startup cohort in energy, circular economy, and materials with potential partners and customers.
• Jollibee Group FoundationminorStrategic or Co-development PartnerPartner in the Grow Asia Directory Showcase for startup marketplace addressing data collection and insight delivery for smallholders.
• DSMminorStrategic or Co-development PartnerPartner in Fishackathon global programme and SustainableAg Asia Challenge, addressing aquatic sustainability challenges and agrifood supply chain sustainability.
• YARAminorStrategic or Co-development PartnerPartner in Digital ASEAN Program with MUFG and Grow Asia, the first pan-Asian agritech acceleration programme for smallholder farmers.
• ADMminorStrategic or Co-development PartnerCorporate partner in SustainableAg Asia Challenge and Food Loss Challenge Asia, addressing sustainability and integrity in agrifood supply chains.
• BayerminorStrategic or Co-development PartnerCorporate partner in SustainableAg Asia Challenge and Grow Asia Directory Showcase.
• OlamminorStrategic or Co-development PartnerCorporate partner in SustainableAg Asia Challenge and Food Loss Challenge Asia.
• TemasekminorStrategic or Co-development PartnerCorporate partner in SustainableAg Asia Challenge and Food Loss Challenge Asia.
• UPLminorStrategic or Co-development PartnerCorporate partner in Food Loss Challenge Asia for reducing food loss from farm to market.
• CP FoodsminorStrategic or Co-development PartnerCorporate partner in Food Loss Challenge Asia.
• JTCmajorStrategic or Co-development PartnerSingapore government agency partner in Built Environment Accelerate to Market Programme with BCA and Enterprise Singapore.
• IAGmajorStrategic or Co-development PartnerPartnership on IAG Firemark Accelerate with two tracks: IAG portfolio companies for SEA market access; and cybersecurity companies for validation and business networks.
• Land Transport AuthoritymajorStrategic or Co-development PartnerSingapore government agency partner in Singapore Mobility Challenges with ComfortDelGro and SMRT.
• ComfortDelGrominorStrategic or Co-development PartnerCorporate partner in Singapore Mobility Challenges with LTA and SMRT for commuter experience and behaviours, maintenance and operations.
• SMRTminorStrategic or Co-development PartnerCorporate partner in Singapore Mobility Challenges with LTA and ComfortDelGro.
• EDB (Economic Development Board)minorStrategic or Co-development PartnerSupporting partner for Southeast Asia Open Innovation Challenge.
• IMDA (Info-communications Media Development Authority)minorStrategic or Co-development PartnerSupporting partner for Southeast Asia Open Innovation Challenge.
• TotalEnergiesminorStrategic or Co-development PartnerCo-sponsor with OCBC Bank of Sustainability Innovation Challenge.
• BoundlessminorStrategic or Co-development PartnerPartner in Renewable Heat Adoption Challenge, supporting transition to low-carbon industrial heat in Australia.
• Banpu Innovation & VenturesminorStrategic or Co-development PartnerPartnership on BIV Scouting Programme for e-mobility and energy tech in Southeast Asia, India, and China, leading to pilots and potential investment.
• Korea IT Cooperation CenterminorStrategic or Co-development PartnerPartnership on ICT Growth in Singapore programme for Korean potential unicorns to land in Singapore and Southeast Asia.
• Ministry of Health SingaporemajorStrategic or Co-development PartnerPartner in Healthcare Open Innovation Challenge with Enterprise Singapore and National Health Innovation Centre.
• National Health Innovation CentremajorStrategic or Co-development PartnerPartner in Healthcare Open Innovation Challenge with Ministry of Health and Enterprise Singapore.
• CSIROmajorStrategic or Co-development PartnerPartnership on Precision Health workshop with A*STAR for data-driven food innovation collaboration between Australian and Singaporean researchers.
• AIAminorStrategic or Co-development PartnerHealth sector partner supporting innovation in health and wellbeing.
• Health Promotion BoardminorStrategic or Co-development PartnerSingapore government agency partner in health innovation initiatives.
• PepsiCominorStrategic or Co-development PartnerCorporate partner in Decent Rural Living Initiative (DRLI) with Cargill for better PPE solutions for agricultural workers in Asia.
• NUS (National University of Singapore)majorStrategic or Co-development PartnerPartner in CATALYST-AA Innovation Programme with JUMPstart, incubation programme for clinicians and technologists to develop health ideas into prototypes.
• JUMPstartmajorStrategic or Co-development PartnerPartner in CATALYST-AA Innovation Programme with NUS for health innovation incubation.
• SkillsFuture SingaporeminorStrategic or Co-development PartnerPartner in SkillsFuture Idea Sprint community hackathon for upskilling, lifelong learning, and workforce development.

Scale indicators10 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• L Marks: L Marks is a London-headquartered open innovation consultancy that designs and runs corporate innovation programmes (challenges, accelerators, hackathons) for enterprises. Closely matches Padang & Co's core service model of structuring startup-corporate collaborations on behalf of large clients.
• NineSigma: US-based global open innovation services firm connecting large organisations to technology providers through challenges and scouting. Comparable in that it competes for the same corporate open innovation budgets and runs structured sourcing programmes similar to Padang & Co's Innovation Challenges.
• Yet2: Global open innovation services company providing technology scouting and corporate-startup connections. Both companies deliver bespoke innovation programmes for Fortune 500/equivalent clients and operate in the open innovation services niche.
• Innosabi: Germany-based open innovation software and services provider running idea management, crowdsourcing, and innovation challenge programmes for enterprises. Similar hybrid of programme delivery and platform tooling to what Padang & Co aspires to with refInsights and Landscape reports.
• Startupbootcamp: Global accelerator operator running corporate-backed and industry-focused acceleration programmes. Overlaps with Padang & Co's Acceleration Programmes and Go-to-Market offerings for startup cohorts.

Broad incumbents

• Nesta: UK-based innovation foundation running missions, challenges, and innovation programmes across sectors including climate and health. While more grant-funded and broader than Padang & Co, it competes for similar "innovation-as-a-service" mandates from governments and large institutions.
• Capgemini Invent (Applied Innovation): Global consulting arm running corporate innovation and venture clienting services for large enterprises. Competes for the same enterprise open innovation budget pool, though as part of a much broader transformation offering.

Regional players

• AlphaBeta (now part of PwC): Singapore-based strategy consultancy focused on economic and climate opportunity in Asia-Pacific. Direct geographic overlap with Padang & Co and similar focus on mapping green economy opportunities for corporate and government clients in SEA.

Emerging players

• Springwise: Global innovation intelligence platform that scouts and curates emerging innovations for corporate clients. Comparable in the innovation sourcing and landscape mapping capabilities that Padang & Co offers through its Innovation Landscape service.

Others

• ITONICS: Innovation management software vendor providing innovation landscape and portfolio tooling. Adjacent rather than direct: a tooling provider that enables similar innovation intelligence use cases but does not deliver programmes like Padang & Co.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCkSrGwUisdLSqOP8Pp7R5xg
• Facebookfacebook.com/padangco
• LinkedInlinkedin.com/company/padangco
• Xx.com/padang_co

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Padang & Co