The Singapore government has set aside S$46 million (US$36.4 million) for an initiative called Infocomm Industry Productivity Roadmap.
The announcement was made by Lui Tuck Yew, Minister for Transport and Second Minister for Foreign Affairs, at the Asia Pacific ICT Summit (APICTS) yesterday. APICTS is a two-day event organised by Singapore infocomm Technology Federation (SiTF) and MediaCorp VizPro International.
Led by IDA, and with the support, of the National Productivity and Continuing Education Council, the Roadmap seeks to help local technology companies remodel their businesses, provide access to resources, build up skills and extend market outreach. The Roadmap will be executed over a five-year period. The Roadmap aims to benefit some 1,100 infocomm companies and train 1,000 workers.
"SiTF is working with IDA to explore the setting up of a Productivity & Productisation Programme Office to provide assistance to local infocomm enterprises to transform their business," said Lui.
The decision came as the Singapore government recently unveiled its national budget and announced that it is pushing for local companies to raise productivity.
The government pointed out specific sub-segments of the local infocomm industry, including software development, system integration and IT consultancy have been pursuing a labour-led growth model compared to their counterparts in key markets such as the US.
The Roadmap aims to help transform these tech players towards product or cloud-based business models. Companies can then easily scale quickly and serve global customers more efficiently without the need for an increase in manpower.
Infocomm players will be provided with "cost effective access to shared resources, helping them develop products and services faster and more efficiently," said Ronnie Tay, CEO, IDA. Examples of resources include software tools, resource templates and manpower-as-a-service, Tay added. IDA will also be looking to entice companies to adopt productivity platforms such as project management tools through schemes.
Another focus of the Roadmap is to train professionals with specialised skills such as product and outsourcing management to support the transformed business models. In addition, mentorship will be provided to local players on honing their market strategies in places like China and the US.
Meanwhile, other initiatives announced at APICTS include the 123 JumpStart and the National Infocomm Awards (NIA) for this year. The previous is driven by SiTF which seeks to provide a holistic approach in nurturing startups. The latter is organised by IDA and SiTF, which recognises the adoption of innovative technologies within companies in Singapore. In its sixth year, the nomination period for NIA is opened till June this year.
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