Singapore SME Innovation Support Schemes - PRO INNO Europe

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2.1.1 SPRING Singapore http://www.spring.gov.sg SPRING Singapore is the enterprise development agency responsible for helping Singapore enterprises grow. They assist enterprises though financing, capability and management development, technology and innovation, and with accessing new markets. SPRING is also the national standards and accreditation body. 2.1.2 A*Star http://www.a-star.edu.sg/ The Agency for Science, Technology and Research (A*STAR) is the lead agency for fostering scientific research and talent in Singapore. A*STAR has 7 research institutes in the biomedical sciences area and 7 research institutes in the physical sciences and engineering area and employs over 2,300 researchers. Most of the research centres are located in Biopolis and Fusionopolis campuses which accommodate the biomedical institutes and science and engineering institutes respectively. A*Star’s focus is very much on industrially relevant research and it supports Singapore's key economic clusters by providing intellectual, human and industrial capital to industrial partners. 2.1.3 Exploit Technologies Pte Ltd (ETPL) http://www.exploit-tech.com ETPL is the marketing and commercialisation arm of A*STAR which manages the intellectual property portfolio of A*STAR’s research institutes and centres. It promotes the institutes’ research capabilities and facilitates the transfer of A*STAR’s technologies to industry. Its aim is to ensure that new IP generated by A*Stars researchers is exploited to produce tangible products and services. 2.1.4 Singapore Economic Development Board http://www.sedb.com The Singapore Economic Development Board (EDB) is the government agency concerned with planning and executing strategies to enhance Singapore's position as a global business centre. Its activities include Attracting Foreign Investment, Growing Industry Verticals by helping expand existing industry into new growth areas and enhancing the Business Environment by working with other government agencies to ensure that infrastructure and public services are conducive to a successful business environment. 2.1.5 IE Singapore http://www.iesingapore.gov.sg International Enterprise (IE) Singapore is the government agency driving Singapore's external economy. The agency is concerned with the overseas growth of Singaporebased companies and promotes international trade. IE assists Singapore-based companies in their international expansion through providing what is referred to as their "3C" framework of assistance (Connections, Competency and Capital). They also operate a global network in over 35 locations spanning many emerging markets. They also anchor PAGE 10 www.proinno-europe.eu/partnering-forum
global trading companies in Singapore and position the country as a base to expand into the region in partnership with Singapore-based companies. 3 Spring Singapore SME support schemes (SPRING Singapore, 2010 budget S$90 million, approximately €54 million ) Spring’s main role is in assisting the development and growth of Singapore’s indigenous companies . It therefore runs programmes aimed mostly at entrepreneurs, start-ups and SMEs. For its programmes aimed at SMEs Spring Singapore divides it offerings into Capability Programmes and Financing Programmes. The Capability Programmes are aimed at the development of SME competencies for long term growth. They include such things as business mentorship, management development for CEOs, technical assistance programmes, marketing programmes etc. The programmes aimed specifically at Technology Innovation include the following; • Innovation Voucher Scheme : This is similar to the Innovation Voucher schemes run by many Europe, whereby an SME can apply for a voucher worth S$5000 (€3000 ), which can be redeemed for knowledge related advice and services from knowledge providers. From mid 2012 the innovation voucher scheme is to be extended to cover advice and services in productivity, HR development and financial management, in addition to technical advice and services. • Technology Enterprise Commercialisation Scheme : This scheme, which is running since 2008, aims to facilitate the growth of technologically innovative global enterprises through the provision of early stage funding for R&D aimed at commercialisation of proprietary technology. The scheme has a focus on post graduates in Universities who have a scalable business model, but which is riskier and further away from the market. The scheme uses two stages of funding, a Proof of Concept Phase and a Proof of Value Phase. The proof of concept is aimed at start-ups or researchers from public R&D organisations, to demonstrate the technical/scientific viability of a technology. Costs are funded 100% up to a maximum of S$250,000 (€150,000). In this case, although the grant can initially be to the university, a start-up company must be formed before the end of the project. The Proof of Value Phase is aimed at start-ups to do further R&D on successful POC projects. This phase should lead to a first working prototype and is funded at 85% up to S$500,000 (€300,000) per project. Applicants are required to demonstrate proof of interest from a potential customer or third party investor. In 2010 23 new projects were supported, with a cumulative on-going support for 77 projects. • Technology Innovation Programme : This is a range of funding programmes aimed at supporting the cost of technology innovation in local Singapore companies. It has three main components: o Funding for SMEs or consortia which consist of at least half SMEs, to undertake projects which involve the application of technology to develop or improve products, processes or business models. Typically projects are 50% funded, unless the project is a consortium project which has benefit beyond the consortium members, in which case it can qualify for 70% funding. o Centres of Innovation which are centres established in the polytechnics or research institutes, offering sector specific technology consultancy and PAGE 11 www.proinno-europe.eu/partnering-forum
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