Singapore - Small and medium enterprises (SMEs) can expect to get more help to raise their technological know-how and management capabilities.
The Association of Small and Medium Enterprises (Asme) signed a memorandum of understanding with the Singapore Institute of Technology (SIT) on Thursday evening where they agreed to collaborate on ways to raise the SMEs' skills.
Examples of joint projects include industrial attachments for SIT students at SMEs, where the students can better understand the needs of firms here.
The students will also look for ways to upgrade the firms' technology where possible.
Other projects would involve collaboration where the students and firms will identify means to get the prototype of a new product working and ensure it is ready for the market.
This is the first time that ASME has signed an agreement to work with a university here in joint collaborations.
"I am glad that SIT is our first official tertiary partner to support the innovation for productivity improvements and business capabilities of local SMEs," said ASME president Kurt Wee.
"SIT and ASME recognise the capabilities and resources that each Party brings and our shared desire to work together in support of one another," Mr Wee added.
SIT president Professor Tan Thiam Soon said: "SIT is privileged to work closely with ASME to boost productivity and create value innovatively within our local companies."