It is part of the Palo Alto, California based global CommerceNet[1][2] consortium of business partners that organises resources from the industry, plans and executes key strategies.
CommerceNet Singapore seeks to sustain market initiatives that promote security, innovations and develop human, intellectual, financial and cultural capitals within the self-sustaining enterprise ecosystems.
[3] CommerceNet Singapore has also assisted and turned around failing technopreneurs and entrepreneurs; reviving start ups and advising corporate entities in financial difficulties often prior to their bankruptcies.
They usually influence and encourage innovation[4] and driving progress in new areas of operation through grants, market access and other technical assistance.
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 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.
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.
[12] The consortium was promoting intellectual property protection, sitting on IP Taskforce[13] and had worked with Business Software Alliance (BSA)[14] to achieve its goal.