Over 400 SMEs get tech, marketing boost with five new government initiatives

Collaborative Industry Projects were launched today.

The government today launched five new Collaborative Industry Projects (CIPs) to help SMEs access the latest technologies and digital and mobile marketing tools.

The initiatives are led by SPRING Singapore and other industry partners and aim to encourage SMEs to focus on innovation-led growth.

SPRING Singapore said in a release that the projects will help over 400 SMEs across multiple industries.

Three of the five CIPs are designed to help SMEs adopt Radio Frequency and Identification (RFID) and image recognition technologies.

These three CIPs are a result of a collaboration between SPRING and A*STAR, and are targeted at SMEs across a variety of industries including manufacturing, retail, logistics, advertising, tourism and education.

The remaining two CIPs will focus on helping local SMEs enhance their sales, marketing and customer engagement capabilities.

The two CIPs are launched in collaboration with Dodoca Information Technology and Digital Influence Lab.

To be eligible for the CIP scheme, SMEs must be registered and operating in Singapore, have a minimum of 30% local shareholding, and a group annual sales turnover of not more than $100 million or group employment size of not more than 200 employees.