EnterpriseSG to invest S$120 million over 5 years to support SME innovation
The Centres of Innovation network will be consolidated, affecting staff
Enterprise Singapore has announced a S$120 million investment over five years to bolster its Centres of Innovation (COIs) and support small and medium-sized enterprises (SMEs) in developing and launching new products and solutions. The COI network will be streamlined from 27 centers to 10, with the loss of staff affecting those in the various entities.
Enterprise Singapore will provide support during the transition, prioritizing redeployment over job loss. The investment will focus on enhancing technology discovery, adoption, ecosystem connectivity, and outreach and industry engagement. Enterprise Singapore chair Lee Chuan Teck emphasized the importance of making it easier for SMEs to access innovation support in a more complex environment.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
