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Scale-up SG to groom promising Singapore firms to be world powerhouses

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Trade and Industry Minister Chan Chun Sing speaking at the launch of Scale-up SG at Conrad Centennial Hotel, July 10, 2019.

SOME 25 promising local companies will be groomed to become future global powerhouses, as Enterprise Singapore launched its inaugural run of the Scale-up SG programme on Wednesday.

Among the well-known names that made the cut include Jumbo Group, PBA Group, Goldbell Corporation and Koufu.

Scale-up SG – first announced in Budget 2019 – is a 2.5 year programme that aims to help aspiring, high-growth companies to scale rapidly and expand abroad.

Participating companies, which displayed a track record of growth and leadership team with strong growth ambitions, come from varying revenue sizes and industry clusters, ranging from lifestyle and consumer to trade and connectivity.

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Companies participating in Scale-up SG are expected to benefit in three key areas: peer learning and collaboration, development of the leadership team and succession planning, and access to expertise and networks of Enterprise Singapore and its programme partners.

Peter Ong, chairman of Enterprise Singapore, said: “Scale-up SG is a specially-curated programme which aims to groom our high-growth local enterprises into global champions... the diversity of the companies will enrich peer learning, spurring each of them towards even greater growth.”

He added that the aim is to build a community which not only contributes to a stronger economy, but also learn and grow together.

The programme will see Enterprise Singapore work with partners from both the public and private sectors, with the inaugural programme run together with anchor partners McKinsey & Company and PwC Singapore.

Aside from a proven track record of growth and strong leadership ambition, eligibility criteria for participating companies include having global headquarters in Singapore and the ability to create positive economic spin-offs, such as good job opportunities.