Singapore SME Innovation Support Schemes - PRO INNO Europe

1 Introduction
The Inno Partnering Forum (IPF) is concerned with identifying and learning from best
practice in SME innovation support programmes in Europe and around the world. Specifically
Workpackage 5 within the project was to identify countries and programmes
outside of Europe with the potential to supply examples of good practice. An initial
phase of desk research identified a number of countries and SME innovation support
programmes within those countries which could potentially be considered good practice.
A second phase of the work focused on conducting more detailed research on a
short list of identified programmes including a review or study visit to countries of particular
interest. The third phase of the work involved the analysis and formulation of
possible new measures based on the programmes and practices identified during the
study visits.
Singapore was identified as a country of interest as it is among the top 10 innovation
performers in the world, with a very strong focus on developing a knowledge and innovation
based economy. Over the past 10 years or more it has developed a very strong
innovation support system.
The study visit to Singapore was organised as a follow on visit to the visit to South Korea.
Of particular interest to the IPF in Singapore were the activities of Spring Singapore,
the agency responsible for the development of local industry and in particular
SMEs and A*Star the agency for Science, Technology and Research.
Of particular interest to the IPF is the operation of the EnterpriseOne service which is
managed by Spring Singapore and their schemes for support of entrepreneurship. For
example they run several schemes aimed at encouraging entrepreneurship from an early
age such as the Young Entrepreneurs Scheme for Start-ups and the Young Entrepreneur
Scheme for Schools.
2 Singapore Policy Mix, Objectives and Delivery
Singapore is a Southeast Asian country with a population of 5 million (just a little larger
than Finland), of which 42% are non-natives. It is a leading financial centre with the
fastest growing economy and highest per capita GDP in the world. (GDP growth of
17.9% in 2010) and is in the top 10 of innovating countries. Figure 1 shows an overview
of the development of the Singapore economy over the past 50 years. The economy has
developed from being a labour intensive one in the 1960s to being knowledge and innovation
based economy in the 2000s. Singapore has no natural resources; the economy
has largely being built on the importation of raw materials and the export of finished
goods. It is very much an export based economy with the main exports being in Electronics,
Chemicals and services.
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