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Enterprise Singapore launches second run of Scale-up SG
ENTERPRISE Singapore (ESG) on Thursday launched the second run of Scale-up SG, bringing 18 new local enterprises on board the accelerated growth programme.
Launched in July, Scale-up SG aims to help local companies with high-growth potential to scale rapidly and eventually contribute significantly to Singapore's economy, as well as create good jobs for Singaporeans.
The programme comprises three phases over 2.5 years, in which the companies will work with partners such as McKinsey & Company and PwC Singapore and learn from one another to strategise and execute business acceleration plans.
The companies participating in the second run of the programme represent a diverse range of industries, including infocomm media and digitalisation, lifestyle and consumer, trade and connectivity, manufacturing and engineering, and urban solutions. This latest round includes more B2B businesses than the previous cohort, such as Ademco Security Group and Tai Sin Electric, although consumer brands also feature, like furniture firm Castlery and food and beverage brands Mr Bean and Saladstop.
"We hope that this 2.5-year programme will help them sharpen their strategies, build new capabilities and expand their networks of partners, so that they can grow into highly competitive global companies in their respective fields," said Png Cheong Boon, chief executive officer of ESG.
Within the first phase of the programme, about half of the 25 companies in the first run have established growth plans that are expected to double their growth rates, compared to pre-programme growth. These companies will execute these plans in the next phase of the programme, with support from ESG and the consulting firm partners.
Daniel Wong, group general manager of first-run participant Bee Cheng Hiang, said his company worked closely with PwC to analyse and sharpen its growth plans, and appreciated the chance to learn from other leaders on the Scale-up SG platform.
"Apart from this, our management team has benefited by being more involved and empowered to make good decisions for the company as they participated actively throughout the various discussions and workshops," he said.
Eligibility criteria for the Scale-up SG programme include a proven track record of growth, global headquarters in Singapore, strong leadership and growth ambition, and ability to create economic spin-offs for Singapore. Interested companies are encouraged to contact Enterprise Singapore for more information on the programme.