Growing Enterprises with Technology Upgrade (GET-Up)
Introduction
GET-UP is a pro-active integrated approach aimed at boosting the global competitiveness of local technology-intensive enterprises to equip them for the knowledge-based economy. We call these SMEs which aspire to grow with technology upgrading the "Growing Enterprises" or "GEs" in short. We will harness the existing schemes of EDB, SPRING Singapore, IE Singapore and the technical capabilities of A*STAR Research Institutes to help these companies upgrade & globalise. This was announced on 5 February 2003 by A*STAR Chairman, Mr. Philip Yeo. Click here for his speech.
Objectives
To help promising local companies grow, glow and globalise through a holistic & integrated approach by harnessing the existing schemes of EDB, SPRING Singapore, IE Singapore and the technical capabilities of A*STAR Research Institutes to address their financial, human resource and technology constraints.
Description
Receptive GEs will be able to leverage on the currently available financial incentives and assistance from EDB, SPRING Singapore and IE Singapore, in addition to technical assistance and manpower transfer from A*STAR Research Institutes.
The following approach is adopted to make the combined resources of various agencies available to companies:
- Initial company visit to understand areas of required assistance
- Follow-up actions by relevant agencies
- Tailoring of a package of existing financial schemes and possible technical assistance from the Research Institutes for the company
Eligibility Criteria
The initiative is targeted at GEs which are promising local enterprises, which need technology upgrading. Current financial incentives such as IDS, LETAS, T-UP, etc will be used where applicable.
Participating Government Agencies
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Agency For Science, Technology & Research (A*STAR) 30 Biopolis Street #09-01 Matrix Singapore 138671 Tel (65) 6826 6111 Web Site: http://www.a-star.edu.sg |
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Economic Development Board (EDB) 250 North Bridge Road #24-00 Raffles City Tower Singapore 179101 Tel: (65) 6336 2288 Fax: (65) 6339 6077 Web Site: http://www.sedb.com E-mail: webmaster@edb.gov.sg |
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International Enterprise Singapore (IE Singapore) 230 Victoria Street #09-00 Bugis Junction Office Tower Singapore 188024 Tel: (65) 6337 6628 Fax: (65) 6337 6898 Web Site: http://www.iesingapore.com Email: enquiry@iesingapore.gov.sg |
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SPRING Singapore (Standards, Productivity and Innovation Board) SME First Stop 2 Bukit Merah Central Singapore 159835 Tel: (65) 6898 1800 Fax: (65) 6276 9606 Web Site: http://www.spring.gov.sg Email: firststop@spring.gov.sg |
Mechanisms of Assistance
Some examples of the assistance schemes available are:
Technical Assistance & Manpower Support
| Operation & Technology Roadmapping (OTR) | A roadmap is a document that identifies key requirements for a set of products or service needs. These include critical system requirements, the product and process performance targets and the technology alternatives with milestones for meeting those targets. The technology roadmap provides the 'big' picture view of the technology required to meet the various business and market needs. This ensures that any technology introductions are relevant to the company and will have a direct impact to its business. Financial co-support will also be provided to eligible companies. For more information, please visit "Operation & Technology Roadmapping" section HERE. |
| Secondment of Research Scientists & Engineers (T-Up) | Growing Enterprises can benefit from technical manpower transfer from Research Institutes. Financial co-support will be provided to eligible companies for the salary of maximum 2 RSEs up to a maximum of 2 years. For more information, please visit "Technology for Enterprise Capability Upgrading (T-Up)" section HERE. |
| Technical Advisory Support | Growing Enterprises may tap on the technical expertise of senior research staff from Research Institutes to advise on their technological related matters and challenges. |
| Research Facilities | Growing Enterprises may leverage (based on pay-per-use basis) on the Research Institutes laboratory facilities for their R&D related activities. |
Financial Incentive & Assistance
| Innovation Development Scheme (IDS) | To encourage and assist Singapore-registered companies and organisations to engage in and develop capabilities in the innovation of products, processes, applications and services. For more information, please contact EDB. |
| Local Enterprise Technical Assistance Scheme (LETAS) | To help local enterprises defray cost incurred in modernising and upgrading their operations through the engagement of an external expert for a limited period of time. For more information, please visit SPRING Singapore. |
| Local Enterprise Finance Scheme (LEFS) | A fixed interest rate financing programme designed to encourage and assist local enterprises to upgrade, strengthen and expand their operations. For more information, please visit SPRING Singapore. |
Overseas Market Development
| Double Tax Deduction (DTD) | The Double Tax Deduction (DTD) scheme for market development aims to encourage Singapore companies to expand their overseas markets. It allows approved companies to deduct against their taxable income twice the eligible expenses incurred in market development activities. For more information, please visit IE Singapore. |
Other Government Incentives
Find out other government incentives that help startups and SMEs to finance, upgrade, or expand their businesses at http://www.business.gov.sg/incentives/.
Glossary:
GEs: Growing Enterprises
GET-UP: Growing Enterprises with Technology Upgrade
T-UP: Technology for Enterprise Capability Upgrading
RI: Research Institute
RSE: Research Scientist & Engineer