Singapore Budget 2019: Enterprise Singapore to launch Scale-up programme for startups

ENTERPRISE Singapore will launch a Scale-up SG programme that partners both the private and public sectors to help startups and smaller companies scale up, said Minister for Finance Heng Swee Keat on Monday.

The programme will pave the way for work with "aspiring, high-growth local firms" to identify and build new capabilities to innovate, and expand into international markets.

"Startups can only thrive if they scale up, and venture into new markets. We will provide support in three areas: providing customised assistance, better financing options, and supporting technology adoption."

The government will also launch a pilot of an Innovation Agents programme. This is meant for firms to tap on a pool of experts to advise them on opportunities to innovate and commercialise technology.

Mr Heng said that over the past few years, the government has looked to improve access to private capital for startups and small-and-medium enterprises (SMEs).

The Monetary Authority of Singapore has also simplified the regulatory regime for venture capital managers, and has launched a US$5 billion private markets programme to spur global private equity players to deepen their presence here.

"Having smart, patient capital that attracts investors with the expertise and the right time horizon is another way to help firms scale up," said Mr Heng.

For all of our Singapore Budget 2019 coverage, news, analysis, and infographics visit bt.sg/budget19