We have simplified our assistance into three main schemes to address specific business needs for different company segments.
We have supported upgrading projects that are aligned to the strategies in various industry transformation maps (ITMs), ranging from wholesale trade to precision engineering.
The Local Enterprise Association Development (LEAD) programme supported 13 Trade Associations & Chambers (TACs) to strengthen their internal capabilities, and to help SMEs in their respective industries upgrade and internationalise.
In 2018, we supported four associations – Singapore Logistics Association, Singapore Transport Association, Container Depot Association of Singapore and SAAA@Singapore – to transform the logistics sector in Singapore and help logistics companies expand overseas.
Having a strong group of partners is critical in ensuring companies get the right help and expertise to address their diverse business needs.
We partnered Singapore Indian Chamber of Commerce & Industry and Little India Shopkeepers & Heritage Association to set up the 13th SME Centre@Little India.
Collectively, our network of 13 SME Centres and their 70 business advisors assisted over 30,000 enterprises through a range of advisory services, workshops, capability upgrading initiatives.
The SME Centres also undertook more than 20 group-based upgrading projects involving more than 350 SMEs.
In addition to supporting companies through our MRA programme, we provided on-the-ground facilitation to more than 570 overseas projects for 380 Singapore enterprises – a 25% increase compared to 2017.
45 TACs led 3,800 SMEs to participate in over 250 overseas trade fairs. We also led and facilitated 230 outbound delegations involving 1,700 Singapore companies on overseas business missions to look for partnerships and market opportunities.
We expanded our international network and strengthened in-market support to help Singapore enterprises internationalise.
We continued to strengthen the startup ecosystem and nurture more high-growth startups.
In helping startups expand overseas and connect to global innovation hubs, we also expanded the Global Innovation Alliance (GIA) network to 5 new cities, namely Berlin, Munich, Paris, Tokyo and Suzhou. This is in addition to the existing 4 in Bangkok, Beijing, Jakarta and Silicon Valley that were set up in 2017.
Read how Igloohome grew from a small startup to having presence in over 80 markets within just 2 years.