Singapore Economic Development Board (EDB) launched the Index Partners Network at the Industrial Transformation Asia-Pacific 2018 on Tuesday, to help manufacturers accelerate the execution of their Industry 4.0 initiatives.

According to a press release from EDB, the network complements the Smart Industry Readiness Index by building an ecosystem of partners, in the areas of technology, talent development and training, as well as financing that manufacturers can tap on to bridge the gap between the planning and execution phases of their transformation journey.

EDB said it will join hands with international organizations to help regional governments and companies adopt the Index.

"Beyond being a tool that helps manufacturers evaluate their readiness for transformation, the Index provides a common language and framework for the various Industry 4.0 stakeholders to base their solutions and offerings on," said Lim Kok Kiang, EDB's assistant managing director.

"The network takes us one step further by building a community of partners with diverse capabilities and expertise to help manufacturers execute their transformation plans using the Index," Lim added.

The Industrial Transformation Asia-Pacific 2018, organized by SingEx Exhibitions with Deutsche Messe as international partner, kicked off on Tuesday.

The three-day event is specially curated for the region as it ushers in the fourth Industrial Revolution and is expected to become Asia-Pacific's leading trade event for Industry 4.0, according to the organizer.