About Enterprise singapore
Enterprise Singapore: Championing Enterprise Development
Enterprise Singapore is a government agency that is dedicated to promoting enterprise development in the country. The agency works with committed companies to build capabilities, innovate and internationalize. It also supports the growth of Singapore as a hub for global trading and startups.
The agency was formed in 2018 through the merger of International Enterprise (IE) Singapore and SPRING Singapore. The merger brought together two agencies with complementary strengths, creating a more integrated approach to enterprise development.
Enterprise Singapore's mission is to help businesses grow, innovate and transform. It does this by providing support in three key areas: capability development, innovation and internationalization.
Capability Development
Enterprise Singapore helps businesses build capabilities through various programs and initiatives. These include:
- Capability Development Grant (CDG): This grant provides funding support for SMEs to upgrade their business capabilities across ten different areas such as productivity improvement, human capital development, financial management etc.
- Productivity Solutions Grant (PSG): This grant supports SMEs in adopting pre-scoped IT solutions or equipment that enhances productivity.
- Scale-up SG Programme: This programme helps high-growth local enterprises scale up by providing them with access to mentors, networks and resources.
Innovation
Innovation is critical for businesses looking to stay competitive in today's fast-changing world. Enterprise Singapore supports innovation through various initiatives such as:
- Startup SG: A suite of programmes that provides funding support for startups at different stages of their growth journey.
- Innovation & Capability Voucher (ICV): A voucher scheme that enables SMEs to tap on consultancy services from approved service providers on areas like branding & marketing strategy etc.
- Open Innovation Platform (OIP): A virtual crowdsourcing platform where companies can post challenges or problem statements seeking innovative solutions from innovators around the world.
Internationalization
Singapore has always been known as a global trading hub due its strategic location at the crossroads of major shipping lanes between Asia Pacific region & Europe/Americas regions. To help local companies expand overseas successfully, Enterprise Singapore offers several programs including:
- Market Readiness Assistance (MRA) Grant: Provides funding support for SMEs who are keen on exploring overseas markets but need assistance with market assessment or identification of suitable partners/distributors etc.
- Global Company Partnership (GCP) Programme: Helps local enterprises partner established MNCs abroad so they can leverage off each other’s strengths while expanding into new markets together
- Overseas Centre Network : With offices located across key cities worldwide , these centres provide valuable insights into market trends , regulatory requirements , business culture etc which can be useful when planning an overseas expansion .
Conclusion
Enterprise Singapore plays an important role in supporting enterprise development in the country . By helping businesses build capabilities , innovate & internationalize effectively it aims not only create jobs but also contribute towards building a vibrant economy . With its wide range of programmes catering specifically towards SMEs needs , it has become an invaluable resource centre for entrepreneurs looking take their business forward .
enterprisesg.gov.sg
