spring singapore's year-in-review
Post on 18-Jul-2015
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Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 2
Global economy growth was
uneven and lacklustre in 2014
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 3
23%
31%
45%
48%
49%
Uncertain Global Economic …
High Rental Costs
Increasing Competition
High Manpower Costs
Difficulty in Hiring Staff
Top 5 Business Concerns
Source: DP Info SME Development Survey 2014
Labour Constraints & Rising Business Costs Key Concerns of SMEs
Restructuring journey continues,
with more coming on board…
20%
20%
32%
50%
51%
Raise Productivity Through IT Investment or …
Expand Overseas Market Presence
Enhance Products and Services Offered
Expand Production Capacity
Relook Business Model
Top 5 SME Business Strategies
Source: DP Info SME Development Survey 2014
More SMEs Coming On Board
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 4
More are looking for ways to
improve productivity and grow…
Improving Productivity
Invest in Innovation
Explore New Markets
84%
90%
% of SMEs Embarked
on Productivity
Source: SCCCI SME Survey 2014
% of Local SMEs R&D Exp
as % of Sales Revenue
Source: : A*STAR, National R&D
Survey of Singapore, 2004-2013
46%
50%
% of SMEs with Income
from Overseas
Source: DP Info SME
Development Survey 2014
20
13
20
14
2013
2014
4.7%
5.7%
6.6%
5.4%
8.8% 8.1%
7.5%
'07 '08 '09 '10 '11 '12 '13
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 5
In 2014, we continued to support
SMEs to restructure …
Be
Competitive
& Productive
Find
Growth
Opportunities
Get Help &
Support More
Easily
Build
Capabilities
Leverage Innovation,
Internationalisation,
New Growth Areas
Enhance Accessibility,
Increase Outreach
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 6
Be
Competitive
& Productive
Build
Capabilities
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 7
We help SMEs attract and
develop talent…
Keystone Cable (S) Pte Ltd
Manufacturer of power cables and wires
Tailored
career
paths
Successfully attracted four STP candidates
Strong
talent
pipeline
supporting
growth
Skills mastery
through
senior
management
mentorship
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 8
…and uplifted productivity of micro
and small enterprises through ICV
Enhanced
Innovation &
Capability
Voucher
Consultancy
Projects
Productivity
Solutions
Equipment
& Hardware
Technical
Solutions &
Training
Design &
Renovation
~9,700
Vouchers
Awarded
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 9
… to build strong processes to
improve productivity
Nature Vegetarian Restaurant Pte Ltd
Restaurant serving vegetarian food
Tapped on ICV solutions for POS Wireless Paging
System that allows customers to page waiters
Enabled staff
to focus on
other work
areas Reduced
manpower
required by up
to 40%
Enhanced
customer
experience
5%
increase in
sales
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 10
We partner associations to help industries
and enterprises restructure and grow …
Large scale Productivity Initiatives
Multiply Innovation Opportunities
Identify & Enter New Markets
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 11
Find
Growth
Opportunities
Leverage
Innovation,
Internationalisation,
& New Growth Areas
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 12
Through innovation to develop new
products, services and solutions…
1Rwave LLP
Wireless electronics design company specialising in
active RFID solutions
Worked with the Centre of Innovation for Electronics to
develop Active Tracking Tag for monitoring patient movements
Increased
patient
safety Secured
deals with
major
hospitals
Patient
movement
analytics
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 13
…and target new customer
segments to grow top line Luzerne Pte Ltd
Manufacturer and B2B distributor of new bone
ceramic tableware
Developed a retail concept store to extend
product range to consumers
20%
projected
Y-o-Y
revenue
growth
Launched first
“shop-in-
shop” concept
in Metro
Centrepoint
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 14
Support international growth by pursuing
quality & excellence in products & services…
Supported
400 enterprises to
adopt standards
Plugged into international developments
Enhanced accreditation
network through MOUs
with various countries
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 15
… and greater access to new markets
through standards adoption
Seng Heng Engineering
Manufacturer of high quality critical bolts and nuts
for the niche subsea industry
10% Y-o-Y
revenue
growth
Adopted API Q1 certification to gain more international
credibility and meet stringent quality requirements
1 of 10 global
fastener
companies
worldwide to be
certified API Q1
10 – 20%
increase in
sales orders
20 – 30%
projected
market share
increase
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore.
Enhanced product design and manufacturing
capabilities through merger and acquisition
16
We help our enterprises find new
growth opportunities…
XMH Holdings Ltd
Diesel engine, propulsion and power generating
solutions provider
Cater to
expanded
customer
base Acquisition
expected to
contribute to
revenue
growth
Reduce
reliance on
external
suppliers
Strategic
deepening of
capabilities
through
inorganic
growth
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 17
…or grow through collaboration with
partners
Working with 40 local SMEs
in the area of wearables and
wireless communication
with applications to
healthcare and cleantech
sectors
Working with 4 local SMEs to
develop a Smart Elderly
Monitoring and Alert System
to monitor safety of elderly
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 18
We help industries take advantage of
upcoming trends and technologies
400 enterprises supported through 7 Centres of
Innovation & 3 Private Sector Translators
Internet of Things (IoT)
Additive Manufacturing
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 19
We support the growth journey of
start-ups…
START SCALE SOAR Launched Privatised
Action Community for
Entrepreneurship (ACE)
Facilitated creation
of Launchpad@
One-North
Facilitated 40
collaborations between
start-ups and large
companies
Strengthened financing
options for start-ups by
appointing 2 new
accelerators
• Zicom Medtech
• Med Tech Alliance
Helped high-potential
start-ups enter new
markets
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore.
20
… for start-ups to gain Scale and Soar
Clearbridge Biophotonics
Imaging solutions company
High
resolution,
wide field-of-
view
microscope
Worked with Clearbridge Accelerator under the Sector Specific
Accelerator initiative to develop the FourierScope
Cost-effective
and scalable
products Invested funds
to further
hardware and
clinical
development
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 21
Get Help &
Support More
Easily
Enhance Accessibility
& Increase Outreach
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore.
• Online portal for Capability
Development Grant (CDG)
• Grant Appeal Advisory Panel
• Enhanced Micro Loan
Programme
• 20% cash advancement for
CDG recipients
22
SMEs can better reach us…
Enhanced Accessibility Increased Outreach
• 36,000 enterprises reached by
12 SME Centres
• Increased capabilities of business
advisors at SME Centres
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 23
…And get the help and support
they need
Bok Sing Hardware Paints Pte Ltd
Industrial hardware and solutions company
Assisted by SME Centre@SouthWest to conduct business
assessment and identify new ways to increase revenue
Gained
overseas
customers
from trade
fair
20%
increase in
revenue
Enhanced
productivity
through new
inventory
system Introduced
new staff
incentive
system
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 24
In 2014, we helped SMEs on their
restructuring journey
Enterprises Supported
9,000 Committed Value-Added
S$8 bil New Jobs to be Created
22,000
Enterprises
tapped on
CDG
>1,000
Enterprises
tapped on
ICV
>7,000
Innovative
start-ups
supported
>160
Enterprises
reached*
>160,000
~90% Supported are
micro & small
enterprises
*Non-unique
Information on this slide is confidential and strictly for use by SPRING Singapore officers only. It should not be used or referred to by third parties without prior written consent from SPRING Singapore. 25
Looking ahead into 2015
Pursue
growth
opportunities
Enhance outreach
and support for
SMEs
Continue focus on
productivity to
increase
competitiveness
Strongly support SMEs during this period
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