Singapore SMEs to get more help digitalising
To support industry transformation, Singapore plans to build deep enterprise capabilities, deep worker capabilities and encourage strong partnerships, within the country and across the world. In his Budget 2019 speech, Singapore Finance Minister Heng Swee Keat shared new ways that Singapore would help the more than 200,000 enterprises in the country thrive, beginning with helping startups scale. Deep enterprise capabilities Startups received a boost two years back with Startup SG to provide holistic support for startups and entrepreneurs, from co-investments and proof-of-concept grants, to mentorship and physical space. "Our startup ecosystem is flourishing," Heng said. "There are now over 220 venture capital deals per year in Singapore, worth close to US$4.2 billion 1 . This is a significant rise from the 80 deals worth US$136 million in 2012. "Today, more than 150 global venture capital funds, incubators, and accelerators are based in Singapore, suppor...