Govt Announces New Initiatives on Tues (2 Mar) to Help Local Businesses Go Digital

COVID-19 has forced many businesses to go digital.

While that’s okay for the bigger companies with deeper pockets, the same can’t be said for smaller businesses in Singapore.

Especially those that are struggling to survive, much less think of the future.

Well, if your business is exactly like what I’ve described above, I’ve got great news for you.

The Singapore government has a huge initiative in store for businesses that want to go digital, but can’t due to financial reasons.

Govt Announces New Initiatives on Tues (2 Mar) to Help Local Businesses Go Digital

On Tuesday (2 Mar), Minister for Communications and Information (MCI) S Iswaran noted that Singapore’s future depends on enterprises here “leveraging” on new technology to innovate and grow.

To help more small and medium enterprises (SMEs), the Singapore government will be launching a “CTO service” here.

Basically, a Chief Technology Officer (CTO) in a company helps to identify the technology needs and gaps in a company.

What they’ll be doing is to launch a self-service digital tool to help SMEs do the same.

Hence, a “CTO service”.

Based on the company profile and information on government support, SMEs can access recommendations on the best way to move forward digitally.

But if you think that’s all, think again.

In-Depth Advice Available Too

Say you’re using the self-service tool and you realise, you need more help.

You don’t have to Google your way through.

Instead, there’ll be a pool of digital consultants or, as Mr Iswaran says, CTO-equivalent people, that you can rely on.

They’ll be able to support you with information in areas like data analytics, cybersecurity, and artificial intelligence.

These consultants will be managed by information technology (IT) consultancy firms approved by MCI.

The firms are selected based on their digital skills and experience in related industries and they’re able to provide both digital consultancy, as well as project management services.

Basically, it means that other than telling you what you should do, they’ll be able to help implement it in your business too.

Open To All Registered SMEs

So, who can get access to these tools?

According to Mr Iswaran, every registered SME.

This includes home-based businesses which are own solely by one person, he said.

The upcoming service will be available in the form of a web application, accessible on both computers and mobile devices.

Digital Leaders Programme

Thinking about getting yourself an upstart, or aiming to lead the pack in the digital realm? Or maybe, you just feel the need to go all the way digitally?

Well, don’t fret because other than offering external support, the Singapore government is also willing to help you create your own digital team internally.

The Digital Leaders Programme, which will initially support 80 companies, offers up to 70% support to help companies build a digital team to execute their digitalisation strategies.

Other than developing internal teams, the programme will also connect companies with tech partners to develop better technologies and compete internationally.

The initial batch of companies will be those that are more advanced digitally, Mr Iswaran says, run by management who are fully-engaged in digitalising.

The programme will be headed by the Infocomm Media Development Authority (IMDA), Enterprise Singapore (ESG), and other economic agencies and is slated to run in Apr 2021.

Better Data Management

If you’re a company that wants users to sign up on your site, but cannot do so because you have no way of protecting users’ data, rejoice!

Because the Better Data Driven Business (BDDB) programme is here.

For those interested in collecting and analysing data, the programme guides firms on how to best safeguard their customers’ personal data and offer insights on how to analyse said data.

A free tool will also be provided to convert raw business data into a visual dashboard that can be easily understood.

Crowd-Sourcing

Last, but not least, the IMDA’s Open Innovation Platform.

Think of it like Kickstarter, but for business problems.

People can post a business challenge on the platform and people who are able to answer said challenge with technology can connect to them to provide a solution.

The platform will get a S$50 million injection to make it even better.

Feature Image: PopTika / Shutterstock.com