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Initiatives Launched By IDA For SMEs

Innovation is essential in maintaining the healthy business environment of Singapore. The Infocomm Development Authority (IDA) has been a major contributing factor in the economic development of Singapore’s small and medium enterprises (SME) sector. Seeking to help Singapore achieve its goal of becoming a developed and prospering nation that provides its citizens with quality life, IDA works to improve Singapore’s Information Technology and Communications infrastructure in a way that benefits both citizens and enterprises in the city-state.

IDA collaborated with the Infocomm Local Enterprises (ILEs) to leverage on the expert knowledge and know-how of multinational corporations (MNC’s) in furthering the economic development.

Among the initiatives implemented by IDA are:

iPACT. A three-year programme, Partnership for Capability Transformation is aimed at the communications and technology sector which is committed to achieve a strong position in the industry that helps to develop long term collaborative links and liaison with Lead Partners. Lead Partners is a group of large successful enterprises and IT MNCs that increase deployment and employment opportunities in SMEs.

ICT for Productivity and Growth Programme. The IPG programme focuses on adopting high-end ICT solutions for the development of the SME sector. It stresses to improve information technology and communications to achieve sustainable growth.

Productisation – Technology and Innovation Programme (TIP). Innovation is necessary in becoming a market leader and more so, in meeting the challenges of a competitive industry. The TIP assists companies in developing innovative products and services. Further, it promotes companies to grow through 70% assistance in manpower, software, equipment and professional fees.

SME Infocomm Resource Centres. These resource centres provide consultancy and advisory services to entrepreneurs and companies seeking support in transforming the way of doing business. Currently, there are two SME centres in Singapore—one is for retail studies and the other for the promotion of commerce and industry.

MTCS Certification Grant Scheme. The scheme seeks to aid cloud service providers who are interested in certification by funding support under the certification grant scheme according to the standards of Multi- tier Cloud security.

These initiatives launched by the IDA provide innumerable benefits to new entrepreneurs and motivates to incorporate a company in Singapore. New entrepreneurs and talented individuals who are looking for great opportunities should get a chance to prove their capabilities and advance their careers. IDA is the leading organisation in helping companies leverage on knowledge, innovation and technology.

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