SMEs can now enjoy broader coverage of technology solutions and a simplified application process through the incorporation of the $500 million IPG programme into "Increase SME Productivity with Infocomm Adoption & Transformation" (iSPRINT). The Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam announced IPG earlier this year in the Singapore Budget 2014 Speech.
The enhanced iSPRINT scheme will boost SMEs' productivity and growth. There are three new elements in the enhanced iSPRINT: piloting of new sector solutions, scaling up of already proven sector solutions and leveraging access to high-speed connectivity to achieve more with technology.
The enhancement was announced today by Dr. Yaacob Ibrahim, Minister for Communications and Information, at the opening of the 16th Annual SMEs Conference & 17th Infocomm Commerce Conference, organized by the Singapore Chinese Chamber of Commerce & Industry.
Dr. Yaacob said that the enhancements aim to make the adoption of ICT solutions more accessible to SMEs. "Global and technological trends have made the businesses highly competitive and SMEs must make use of technology to compete and succeed. The opportunities and possibilities are there, it is up to you (SMEs) to take advantage of the resources the Government has provided".
Mr. Steve Leonard, Executive Deputy Chairman, IDA said, "Tech enables business transformation. To build the world's first Smart Nation, we need pioneers among our SME to innovate with tech and transform their businesses so that they can compete even more effectively in Singapore and reach new markets overseas".
IT vendors and SMEs who wish to pioneer new and scalable solutions that can automate and transform a particular sector may now receive support of up to 80% capped at $1 million. SMEs, on the other hand, that wish to deploy proven sector-specific solutions in their business, may also benefit from this scheme. SMEs can choose solutions from a growing pre-qualified list and may now receive support of up to 70%.
To encourage SMEs to deploy technology into their businesses, SMEs can also enjoy higher speed connectivity with the support from IDA if they adopt selected solutions. These include support for SMEs' fibre subscription plans of at least 100 Mbps and implementation of Wireless@SG services at their business premises.
At the same time, SMEs will also not need to make any claim submissions for the above enhanced iSPRINT support. The enhanced iSPRINT is expected to support up to 10,000 companies over three years. Whilst all sectors with SMEs will benefit from this scheme, 5 sectors that will benefit significantly for productivity and growth are retail, food & beverage, construction, logistics/transport and tourism & attractions.Further details