BUDGET FLASH: TechSkills Accelerator to be set up as new skills development and job placement hub for ICT sector

According to Finance Minister Heng Swee Keat, the accelerator will:

1. Identify specific skills in demand and work with specialised training providers to meet these complex demands in startups and in sectors such as finance and healthcare.

2. Develop industry-recognised skills standards and certification. This will guide ICT professionals to acquire industry-relevant skills and help employers assess skills proficiency of their employees.

3. Work with anchor employers to commit to hiring and paying based on certified skills proficiency rather than academic qualifications alone.