S'pore gears up to attract movers and shakers in tech industry

When cyber protection company Acronis wanted to grow the team for its research and development centre here last year, it targeted locals.

But when it could not hire enough people with the required know-how, the Singapore-based firm tapped the Tech@SG programme, which provides for flexible requirements for foreign professionals to get an Employment Pass (EP).

The programme, administered by the Economic Development Board (EDB) and Enterprise Singapore, endorses EP applications to the Manpower Ministry.

Acronis is now eyeing another EDB initiative - the Tech.Pass - while hiring and training more locals. Unlike an EP, foreign professionals with the new work pass are free to choose who they work for.

"We could definitely use Tech.Pass to recruit the best people and expand our engineering team - the new scheme provides certain flexibility to the holder, since it's not tied to one company," Acronis' co-founder and technology president Stanislav Protassov told The Straits Times.

Many tech companies here like Acronis say it has been difficult to secure enough top-tier talent to grow their Singapore workforce and boost capabilities.

The EDB says Tech.Pass, announced on Nov 12, is an attempt to address this manpower issue while simultaneously growing Singapore's tech ecosystem and creating opportunities for locals.

The Tech.Pass is valid for two years and can be renewed once more for another two years. Holders of the pass can serve on the board of directors of a Singapore-based company or be a shareholder or investor in companies here. They can also start and operate a business.

Applications for the Tech.Pass will open in January, with 500 passes available. Candidates must meet at least two of three criteria:

•A last-drawn monthly salary of at least $20,000 in the past year;

•At least five years of cumulative experience in a leading role in a tech firm with a valuation or market capitalisation of at least US$500 million (S$669 million) or at least US$30 million funding and beyond; and

•At least five years of cumulative experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or at least US$100 million in revenue.

Recruitment agency Randstad Singapore's senior director for information technology Daljit Sall said the bar has been set high to ensure Tech.Pass attracts only "serious movers and shakers" in the global tech industry. "This group of individuals should have a proven track record and the expertise to not just fill the talent gap, but also drive the industry forward," he added.

Associate Professor Lawrence Loh from the National University of Singapore (NUS) Business School said tech titans in the field of computer graphics cards - the chief executive officer of Advanced Micro Devices (AMD) Lisa Su and Nvidia's CEO Jensen Huang - would be the type of talent who would secure a Tech.Pass.

Beyond filling up key roles in organisations, the EDB said Tech.Pass holders can also groom local professionals by taking up lecturing roles in institutes of higher learning, serve as a mentor or adviser to companies here, and conduct corporate training.

Speaking at the Singapore Tech Forum on Nov 17, Prime Minister Lee Hsien Loong said that while the country has a supportive environment for technology in terms of infrastructure, the key factor is talent, and Singapore needs more of it.

Mr Chng Kai Fong, managing director of the EDB, said pass holders who pursue entrepreneurship will also generate business spending locally and create jobs and opportunities for locals to learn.

Responding to concerns that Tech.Pass may attract talent from only a few sources, some expect safeguards to be in place.

Dr Protassov said: "I'd expect the first 500 of eligible candidates to come from diverse backgrounds, countries and fields.

"There will also likely be quotas in place to ensure the even distribution of the arriving foreign professionals, as is standard practice."

Prof Loh said those who apply for Tech.Pass should be able to value-add to the organisations they work for in multiple ways.

"These leaders should be able to take on a comprehensive suite of initiatives beyond innovation and investment - capability development of the local pipeline should be a key priority," he explained.