SINGAPORE – Operators of heartland businesses can soon tap a new 12-month programme that offers discounted rentals and training courses to drive innovation.
Under the Heartland Innovation and Transformation Programme, the Government will construct and make available temporary spaces in mature heartland precincts. Aspiring entrepreneurs can use these spots to test new ideas.
The first pilot will take place in Ang Mo Kio Town Centre and more details will be shared soon.
Heartland enterprises participating in the programme will benefit via mentorship from successful entrepreneurs, networking opportunities, training courses and affordable spaces at temporary locations in Ang Mo Kio Town Centre.
They can also access vacant Housing Board shop spaces through the HDB Enhanced Entrepreneur Scheme, with rental discounts offered.
“We will offer opportunities for heartland shopkeepers and merchants to learn from the best practices of successful entrepreneurs who are familiar with or well-versed in the heartland, merchants’ associations and grassroots communities,” said Minister of State for Trade and Industry Low Yen Ling in Parliament on Tuesday.
The Government will also be expanding the Innovation and Enterprise Fellowship Programme (IFP) to include three public-sector partners – the National Additive Manufacturing Innovation Cluster, Experimental Drug Development Centre and Diagnostics Development Hub.
Launched in 2020, the IFP is a 12- to 18-month training programme administered by SGInnovate and aimed at developing local talent, or fellows.
Second Minister for Trade and Industry Tan See Leng said mid-career professionals, including researchers, scientists and engineers who are selected as fellows will be trained to become “ambidextrous” – or familiar with both the technology and business aspects – in areas such as cyber security, robotics and biomedical sciences.
This programme has achieved results in the past three years, with more than 90 fellows from academia and industry participating in the IFP. Many of them joined deep-tech start-ups and took up technology commercialisation roles upon graduation.
An example is Dr Yvonne Koh, who holds a PhD in microbiology and graduated from the IFP in November 2021. Lightstone Singapore, a venture capital firm that invests in life sciences technologies and companies, offered her a role as an investment professional.
Minister for Trade and Industry Gan Kim Yong said in his speech on his ministry’s spending plan for 2023 that Enterprise Singapore (EnterpriseSG) will be building on its Scale-Up SG programme that helps promising companies develop and implement long-term plans to accelerate their growth.
EnterpriseSG will also be introducing a Scale-Up X programme, with specialised capability-building initiatives in areas such as nurturing leadership, enhancing readiness for investments and initial public offering listings, and sharpening internationalisation strategies and execution plans.
The Government will also support companies in expanding their global footprint and diversifying supply chains.
Mr Gan said: “To facilitate this, companies may receive customised financial support from Enterprise Singapore, such as through co-funding of the establishment of their in-house R&D and innovation centres, and efforts to build supply-chain resilience.”
The Government will also work towards deepening and developing the talent pool.
Existing schemes like the Singapore Global Executive Programme (SGEP) help local high-growth companies enhance their human-capital capabilities and attractiveness as employers.
The SGEP helps companies with global ambitions to design talent development programmes with support from industry experts.
The Government will widen the coverage of the SkillsFuture Enterprise Credit to include Scale-Up SG and the SGEP.
Mr Gan said this will allow eligible employers to use their credits to offset qualifying expenses under these programmes, providing greater backing for their enterprise and workforce transformation efforts.
