Looking to enter the Technology and Innovation markets? Overwhelmed by complicated information on Government Assistance Schemes? Silvester Legal LLC has compiled all the relevant information into an accessible 3-part series.
Singapore is strategically positioned to dominate the Technology and Innovation markets. Singapore is the most innovative country (according to The 2017 Global Innovation Index) with the strongest Intellectual Property Rights Protection in Asia (World Economic Forum). These impressive rankings are in part due to assistance from Government policies. In the first part of our “Government Funding and Assistance Scheme – Technology and Innovation” series, we focus on resources offered by various agencies.
Government assistance comes in various forms:
- SME Centres
- SME Digital Tech Hub
- Tech Depot
- Centres of Innovation
- A*STAR Gap Funding
- A*StartCentral (ASC)
- Investment and Spin-off Services
- A*STAR Tech Access
- A*STAR Head Start Programme
- A*STAR Patent Library
- Intellectual Property Intermediary (IPI)
- Open Innovation Platform (OIP)
- Intellectual Property Office of Singapore Business and Legal Clinics
SME centres are located all around Singapore and provide free one-to-one business diagnosis and advisory services in areas like productivity, finance, human resources and overseas expansion. SMEs may also make appointments with IRAS and ACRA at the Taxpayer Service Centre (located at Revenue House) for tax and business-registration matters.
SME Digital Tech Hub
Under the SME Digital Tech hub, SMEs can obtain specialist consultancy in areas such as Digital Technology, Analytics and Cybersecurity. Digital Tech Hubs provide solutions that surpass the free advice available at SME centres. The directors and principal consultants on panel have abundant experience in advising; averaging around 30 years of experience each. Additionally, SME Digital Tech Hub provides a vast business network, as they work with SME Centres and Trade Association & Chambers (TACs) to provide connections to ICT vendors and consultants.
The Tech Depot provides companies in Singapore with a library of ready-made pre-qualified solutions. A discussion on the Productivity Solutions Grant has been published in an earlier issue. Check if your Tech Depot solutions are eligible for the Productivity Solutions Grant here.
Centres of Innovation
The Centres of Innovation (COI) are a national initiative launched by SPRING Singapore to help SMEs leverage state-of-the-art technologies for innovation and growth. Each of the COIs provide a broad spectrum of facilities including Technology, Equipment, Manpower Training, Consultancy, in order to meet the manufacturing needs of local companies. Each COI is specialised and hosted by a partner institution, ranging from Research Institutions to Polytechnics.
- Aquaculture Innovation Centre
- Centre of Innovation for Complementary Health Products
- Centre of Innovation for Electronics and IoT
- Centre of Innovation for Supply Chain Management
- EcoLabs Centre of Innovation for Energy
- Environmental and Water Technology Centre of Innovation
- Food Innovation Resource Centre
- Marine and Offshore Technology Centre of Innovation
- Materials Centre of Innovation
- Precision Engineering Centre of Innovation
Find out more here.
These are some of the government assistance made readily available to businesses and individuals in Singapore, regarding the incorporation of technologies. Stay tuned for the next issue where we conduct a more in-depth exploration of A*STAR’s technological assistance.
At Silvester Legal, we work extensively with start-ups to understand our client’s needs. We want our clients to take full advantage of the opportunities available to them as they pursue their business ventures.
Disclaimer: The materials prepared here are for general information purposes only to inform you about Silvester Legal LLC, our services and related matters. The information presented is not legal advice and is not to be acted on as such.