Local small – and medium-sized enterprises (SMEs) with research and development (R&D) projects abroad can soon tap on additional support.
Come April 1 next year, these companies can get aid to cover up to 70% of their costs from living abroad, air travel and seconding research and engineering talents.
The move comes as an enhancement of the Technology for Enterprise Capability (T-Up) scheme, and looks to support local companies in their overseas in-market projects, technology developments and last-mile product customisations.
“This will support our SMEs in their overseas R&D projects,” said trade and industry Minister Gan Kim Yong, as he announced the enhanced programme on Nov 11.
Launched by the Agency for Science, Technology and Research (A*STAR), the scheme currently seconds its research scientists and engineers to local companies to help them build their in-house R&D capabilities and enhance their competitiveness.
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Since its introduction in 2003, over 950 research scientists and engineers have been seconded to more than 850 firms.
“As Singapore’s economy continues to open up, A*STAR is intent on helping SMEs strengthen their innovation capacity and to making R&D even more accessible to our local enterprises through enhancements to our T-Up secondment scheme,” says Tan Tze Wee, assistant chief executive for enterprise at A*STAR.
He adds that the organisation is looking to help companies improve their business process, innovate and seize new business opportunities.
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Meanwhile, Gan went on to encourage firms to tap on initiatives set up to help firms plan their tech needs and advance business interests
For instance, over 80 companies have worked with A*STAR’s Advanced Remanufacturing and Technology Centre to develop new technologies and create new solutions in the advanced manufacturing sector.
Gan also encouraged firms to consider public – private partnerships to better identify industry needs and contribute to the development of solutions that can achieve economies of scale.
“Let us work together to leverage research and technology opportunities to enhance our local companies' products and offerings,” he stressed.
Cover image: iStock
