Killing Innovation Labs: Is That the Right Call? Panel Discussion + Networking
A candid conversation on why corporates are streamlining innovation roles — and what comes next.
Panellists
Moderator: Brian Toh, MD, Partnership Group, Vertex Holdings
Choo Mun Fai, Vice President, Digital Innovation, Singapore Airlines
Petromil Petkov, Head of Innovation Hub Singapore, Volkswagen Group
Audrey Ong, Director, Transformation & Innovation, Keppel
Across multiple sectors, we are observing a quiet restructuring of corporate innovation functions, with many organisations downsizing, repurposing, or dissolving dedicated innovation teams. Once seen as essential to futureproofing, these teams are now under increasing scrutiny for impact, alignment, and ROI.
This session aims to explore:
What is driving this trend? Is it a strategic shift, a missed opportunity for long-term competitiveness or a deeper structural challenge?
What alternative models of innovation are emerging?
What new opportunities could this shift unlock for Singapore’s innovation ecosystem?
How should startups, venture builders, and innovation enablers respond?
We believe this is a timely and thought-provoking topic that speaks directly to both corporate innovation leads and the broader ecosystem — including startups, VCs, and policy partners. It also offers a platform to reframe innovation beyond fixed teams, and towards more agile, outcome-driven approaches.
Beyond the panel, this is your chance to connect with the people shaping the future of corporate innovation. If you’re driving change or championing new technologies in your organisation, this is where you’ll find fresh ideas, and fresh allies. Come for the insights, stay for the conversations, and leave with a stronger network of peers who get what you’re trying to do.
This event is intended for corporate professionals in innovation, technology, or transformation roles. To ensure a focused discussion, registration is subject to approval by the host.
Doors open at 3.00pm for registration. Guests are to be seated by 3.30pm.
Speaker Bios
Choo Mun Fai serves as Vice President of Digital Innovation at Singapore Airlines, leading the Digital Innovation Lab (KrisLab) and pioneering innovative digital solutions that reshape air travel.
He co-founded and served as Co-Director of the SIA-NUS Digital Aviation Corporate Laboratory — initiating the concept with NUS and A*STAR in 2017, guiding its development and securing funding in 2020, and continuing as Co-Chair of its Management Committee and an Executive Committee Member.
Before his innovation leadership, Mun Fai held key positions in SIA’s IT Division, overseeing IT Planning, Architecture and Governance, Technology Research, IT Human Resource, Finance and Procurement. His professional journey spans both private and public sectors prior to joining SIA.
Mun Fai holds both a Master of Business Administration and Bachelor of Science from the National University of Singapore.
He is a visionary leader who collaborates across airlines, tech firms, startups and scaleups, research institutions, and innovation ecosystems to drive transformative change in aviation.
Petromil Petkov is the founder and head of the Volkswagen Group Innovation Hub in Singapore, where he leads the Group’s innovation strategy and partnerships across Southeast Asia. His work enables brands like Volkswagen, Audi, Porsche, and Bentley to collaborate with the regional startup and tech ecosystem.
Previously based in China for seven years, Petromil spearheaded numerous deep tech collaborations for Volkswagen Group and launched Audi’s deep tech incubator in Beijing. He also served as entrepreneur-in-residence at Tsinghua University x-lab and as a design thinking coach at China University of Communications.
Before joining the automotive industry, he held product development roles across four continents with organisations including the United Nations, Motorola, Infosys, and launched a fintech startup.
Audrey Ong is enterprise innovator and AI transformation leader with deep experience driving enterprise change, futures thinking, and technology adoption across traditional and digital industries. At Keppel Ltd, she leads innovation initiatives that support the organization’s evolution into a global asset manager and operator, spearheading the exploration and application of AI and next-generation technologies across diverse business lines. She is known for her ability to bridge vision and execution, from shaping long-term strategy and foresight, to rolling up her sleeves and delivering programs on the ground.
Beyond her corporate role, Audrey contributes actively to the governance of national and community organisations. She serves as Vice President of the Board at Singapore Gymnastics, a National Sports Association that is also an IPC registered non-profit, as well as in the ExCo of the Smart Nation Chapter at SGTech, where she shapes financing and innovation opportunities for SMEs. She also previously served on the IT committee at Beyond Social Services.
In addition to the above, Audrey had previously spent many years commercializing her hobbies and pet projects via various lifestyle startups. This includes online keto bakery @nuttybutterbakes and fashion e-tailer @Kisslocke. Through this, she has experienced the triumphs and heartaches that come with starting and running a venture from ground up and therefore offers an entrepreneurial outlook on problem solving and decision making.
With a background spanning both corporate transformation and entrepreneurial ventures, Audrey brings a practitioner’s perspective on scaling innovation, aligning stakeholders, and building.