Enterprise Singapore (EnterpriseSG) said on Wednesday that it will strengthen the capabilities of the Centres of Innovation (COIs) to better support SMEs in developing and bringing new products and solutions to market.
Established within the local Institutes of Higher Learning (IHLs), COIs provide SMEs with access to specialised facilities and technical expertise to co-develop, test and validate their innovations, according to a statement.
However, as SMEs pursue more complex innovation, they need expertise that is currently situated across different players and parts of the innovation ecosystem.
To better support SMEs in their innovation journey, EnterpriseSG, a government agency championing enterprise development, will invest up to S$120 million ($93.79 million) over the next five years to deepen the capabilities of the enhanced COIs in four additional areas, namely technology discovery, technology adoption, ecosystem connectivity and outreach and industry engagement.
To streamline the touchpoints for SMEs and make it easier for them to access the expertise they need, EnterpriseSG said the COI network will be consolidated from 27 to 10 centers.
These 10 enhanced COIs will bring together expertise, specialized facilities and industry connections, while reducing overlaps in offerings across the network.
The COIs will also take on relevant services provided by Innovation Partner for Impact (IPI), such as technology discovery and matching, to offer a more comprehensive suite of offerings in a single touchpoint.
With this expertise and institutional knowledge incorporated into the enhanced COIs, IPI will wind down on March 31, 2027.
The streamlining of the COI network and incorporation of IPI functions will affect staff in the various entities. EnterpriseSG will support them through the transition, with redeployment as the first priority.
EnterpriseSG said it is working to redeploy affected IPI staff to suitable roles within the enhanced COIs, the Public Service, and the broader innovation ecosystem.
All staff in the affected COIs are on fixed-term contracts tied to the completion of their projects. They will be offered roles in IHLs to complete ongoing projects or take on other suitable functions, it added.
“As our SMEs take on more complex innovation, we are enhancing our Centres of Innovation to strengthen the ecosystem. Ultimately, we want to make it easier for SMEs to access the support they need to innovate and grow in a more complex
environment,” said Enterprise SG Chairman Lee Chuan Teck.
“The capabilities, networks and knowledge that they have built over the years will remain an important part of the strengthened innovation support model and continue to benefit SMEs,” he said.
“We recognize that change of this nature can be difficult, particularly for colleagues who are directly affected. We are committed to helping them take the next steps in their careers. We will work closely with our partners to facilitate redeployment opportunities for staff, matched as closely as possible to each person’s skills and experience,” he added.
Enterprise Singapore opens Boston office, signs Massachusetts trade partnership