Reported by Lianhe Zaobao on October 7, Enterprise Singapore intends to invest up to S$120 million over the next five years to upgrade innovation centres and deliver integrated support for innovation activities of small and medium-sized enterprises (SMEs).
In an announcement released on the same day, Enterprise Singapore stated it will further enhance the capabilities of innovation centres to help SMEs develop new products and commercialise innovative solutions. Located at Singapore’s tertiary institutions, these centres offer SMEs access to specialised facilities and technical expertise for joint development, testing and validation of innovative products.
Enterprise Singapore noted that as SMEs carry out increasingly sophisticated innovation projects, they need professional expertise scattered across different segments of the innovation ecosystem. The funding will strengthen four core capabilities of the innovation centres. First, technology scouting: identifying mature technologies from home and abroad that suit SME needs to cut redundant research and development. Second, technology adoption: validating and promoting proven solutions to accelerate adoption across individual firms and industries. Third, ecosystem connectivity: linking SMEs with partners in manufacturing, regulatory compliance and market access to facilitate commercialisation of solutions. Fourth, outreach and industry engagement: boosting collaboration with SMEs, SME centres, chambers of commerce and other ecosystem partners, helping SMEs track technology trends and access relevant support resources within the ecosystem.