SINGAPORE: Singapore’s Enterprise 2030 strategy will support the growth of high potential companies and strengthen core capabilities of local enterprises in industry transformation, said Second Minister for Trade and Industry Dr Tan See Leng on Friday .
A “new generation of local champions” has emerged in the last few years, with 22 Singaporean startups reaching unicorn status, said Dr Tan, who is also Manpower Minister.Companies like Secretlab, Hegen and Nanofilm have made a name for themselves internationally, he added. The Corporate Venture Launchpad, launched by the Economic Development Board in 2021, will also be expanded to support a wider range of companies, said Dr Tan.
The Government will also extend the enhanced support levels for the Partnerships for Capability Transformation scheme, an initiative launched in 2010. To help SMEs deepen their presence in key markets and pursue opportunities in new ones, MTI will intensify efforts through international partnerships and networks, said Dr Tan.
More than 80,000 firms have benefited from the SMEs Go Digital initiative since it was launched in 2017, he noted. These will help businesses to deepen capabilities in areas such as cybersecurity, digital marketing and data analytics, which will increasingly become essential skillsets, said Dr Tan.