SINGAPORE: Budding companies that need help reaching out to overseas markets can soon do so when SPRING Singapore and IE Singapore merge later this year.
Senior Minister of State for Trade and Industry (MTI) Dr Koh Poh Koon said in Parliament on Friday (Mar 2) that MTI will also officially launch the Startup SG (SSG) Network this year.
The SSG Network, a "one-stop" database of information and e-community of startups and ecosystem players, will facilitate networking and "business matching" for these companies, said Dr Koh.
With MTI agencies SPRING and IE Singapore coming together in April to form Enterprise Singapore (ESG), startups can also leverage ESG’s international network of offices and in-market partners to "scale up and expand into new overseas markets".
Said Dr Koh: "ESG will advise startups on capability development and internationalisation, while providing them with integrated support through the schemes that were previously under SPRING and IE Singapore."
In his speech during the Committee of Supply debates, Dr Koh also announced that the MTI will set up the Trade Infrastructure Development Fund (TIDF) later this year. The fund is a grant to help companies develop business-to-business (B2B) e-marketplaces and "innovative trade solutions".
AdvertisementAdvertisementENHANCING INTERNATIONAL EXPOSURE
Another scheme that is aimed at helping companies expand their reach regionally and beyond is the ASEAN Leadership Programme, which is under the SkillsFuture Leadership Development Initiative.
This was highlighted by the MTI's Senior Parliamentary Secretary Low Yen Ling.
To be launched in the second half of 2018 by ESG and the Human Capital Leadership Institute, the ASEAN Leadership Programme aims to offer "opportunities for business leaders to gain overseas market immersion and training", according to Ms Low.
"As our Singapore companies expand across ASEAN and beyond, it is crucial that we have a pipeline of talents ready to lead and support this effort," she said. "The ASEAN Leadership Programme will focus on creating a vibrant pool of business leaders who understand the unique business environments and cultures of Southeast Asian markets."
"These countries offer significant growth opportunities for our companies, especially as ASEAN continues to integrate," added Ms Low.
Noting the "untapped promise" of the region, she added that the leadership programme aims to let participants learn from and network with both private and public sector leaders.
"This not only helps our business leaders better navigate the region and capture emerging trends, it extends their connections and growth into new markets," said Ms Low, who expects the programme to benefit more than 100 Singaporeans over three years.
Let's block ads! (Why?)
More...