SGTech sets up fund to boost 2,000 SMEs' digitalisation efforts

It has already pledged $660,000 for the fund.

Technology association SGTech has set up the ‘Stronger Together, Aiding Recovery’ (STAR) fund, which aims to help tech small and medium enterprises (SMEs) in Singapore support the digital transformation of other SMEs, a press release revealed.

Supported by Facebook and Enterprise Singapore (ESG), the STAR Fund will assist SGTech members in training and reskilling their workforce, in order to harness new digital capabilities or to grow their business.

The fund will start with $660,000, comprising an amount pledged to SGTech by its member Facebook, and ESG’s SG Together Enhancing Enterprise Resilience (STEER) programme. Eligible SGTech members can apply for the fund and about 2,000 SMEs are expected to benefit from this programme.

SGTech will undertake ownership in the organising, administering, assessing, disbursing and reporting of activities associated with the disbursement of the STAR Fund. In assessing applications, SGTech will appoint a panel of assessors consisting of councillors and chapter executive committee members who are representatives of member companies, who will determine the eligibility of applications.