Strategic Plan

Key Strategies

We want to enable companies to stay ahead of the curve and navigate the evolving business environment.

An enterprise-centric approach

Enterprise Singapore will continue to take a holistic, enterprise-centric approach to support willing and committed companies through transformation and growth.

We will be the single point of contact working with enterprises to build capabilities, expand their markets and get connected with suitable partners and government agencies both locally and globally.

Priorities

  • Raising productivity
    Companies need to change the way they manage their business operations as we move towards a more labour-constrained environment.

    Our focus will be on helping more SMEs adopt digitalisation, technology and automation to uplift productivity from the get-go. Our Productivity Solutions Grant (PSG) and the Start Digital programme with IMDA are some initiatives to help local companies get started.
  • Strengthening innovation

    Companies need to leverage innovation as a key differentiator and use it to sharpen their competitive advantage.

    We want to enable companies to develop new technologies or adopt technology solutions to create their own intellectual property by:

    • Speeding up commercialisation of new technologies
    • Encouraging market-led innovation, where solutions are developed based on opportunities and problem statements faced by industry players and across markets
    • Catalysing more open innovation platforms
      • Identifying “bilingual” innovation experts – individuals well-versed in business and tech – to work with companies.
  • Accelerating internationalisation
    Companies need to venture beyond our shores to truly grow.

    We want to help more companies take that first step overseas, and do so earlier in their life stages.

    Entering new, unfamiliar territories can be challenging and comes with a certain level of risk. We will continue to help enterprises build the necessary capabilities and provide them with in-market entry assistance such as through our Global Innovation Alliance (GIA).

Strategies

  • Build enterprise capabilities

    We understand that companies’ needs vary across industries, sizes and stages of growth. Here is how we plan to support companies using a holistic enterprise-centric approach.

    Self-help tools and easy-to-adopt solutions
    • Companies taking small or first steps in their upgrading journey can turn to business advisors at any of our SME Centres for advice, participate in their group-based upgrading projects, and adopt the pre-scoped solutions supported under the PSG.
    • Micro and small enterprises can also tap the Start Digital initiative to adopt digital tools and solutions.

    Targeted and customised assistance
    • We will provide dedicated and tailored support to companies with substantial and longer-term plans for capability upgrading, business transformation and market expansion.
    • Our Scale-Up SG programme seeks to accelerate the growth of enterprises who have demonstrated a good track record and commitment to business transformation, and possess high growth potential.
  • Develop human capital

    Having the right talent is critical for companies.

    Companies should look at talent attraction, leadership development and training, and upskilling of employees as they grow.

    We will help enterprises build their talent pipeline through internship and management associate programmes and strengthen their leadership ranks. One such initiative is the Global Ready Talent programme, which helps businesses build their talent pipeline early, especially to support their overseas growth.

    We will also continue to work with Workforce Singapore, SkillsFuture Singapore and trade associations and chambers (TACs) to support SMEs in upgrading and reskilling their workforce for new or redesigned jobs.

  • Strengthen enterprise ecosystem

    Companies require a strong supporting ecosystem and conducive business regulatory environment to thrive.

    We will strengthen the enterprise ecosystem across different dimensions to enable transformation, partnership and innovation.

    • Industry
      • Continue to support various lead agencies and TACs in their industry transformation maps (ITMs) and industry-based upgrading efforts, such as the FoodInnovate initiative, a multi-agency effort to drive innovation under the Food Manufacturing ITM

    • Corporate
      • Step up efforts to drive more cross-industry collaboration
      • Create more partnerships between multinational companies/large local enterprises and SMEs/startups in co-innovation, capabilities upgrading and developing new business opportunities
      • Encourage more companies to hunt in a pack to capture overseas opportunities
      • Leverage public sector demand to spur innovations in SMEs

    • Innovation
      Continue to expand network of Centres of Innovation (COIs), innovation intermediaries and venture partners.
      • Pro-Business Environment
        • Improve the regulatory and compliance landscape
        • Better support enterprises’ financing needs
  • Establish strong networks and partnerships

    We recognise the importance of networks and partnerships for enterprise development. Public and private partners bring deep expertise, resources and networks that help us reach out to more SMEs and connect them with more opportunities globally than if we were to do it by ourselves.

    We want to:

    • Form more strategic and longer-term partnerships with TACs
      • TACs are important partners in enterprise outreach and engagement, upgrading and internationalisation. We want to help TACs enhance their capabilities, and form more strategic partnerships with those who are prepared to take on a bigger role to help SMEs.

    • Expand overseas networks
      • Continue to expand our network of service providers and work with key associations to offer in-market support for companies taking their first step overseas.
      • Extend the GIA network to more leading innovation hubs globally.

Strategic Plan