February 25, 2024

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Singapore businesses expand overseas with the government’s Grow Digital Initiative

businessman holding world, connected

Under the Grow Digital initiative, a joint initiative by Enterprise Singapore and the Infocomm Media Development Authority under the SMEs Go Digital programme, SMEs can get a head start in going global by tapping on established Business-to-Business and Business-to-Consumer e-commerce platforms.

The platforms are pre-approved by Enterprise Singapore (ESG) and Infocomm Media Development Authority (IMDA) for their strong regional or global networks, complementary business services providers such as logistics and financing, proven track records and experience in operating in multiple overseas markets.

“The Grow Digital initiative is designed for SMEs who are keen to take their first steps into new markets but may not yet have the resources to invest in establishing a physical presence there. To increase the success for SMEs, ESG and IMDA have specially curated the digital platforms to maximise the reach and networks across multiple countries.”

“SMEs will also be supported by a strong network of partners so that they have the necessary digital capabilities to support their online efforts. I urge SMEs to leverage Grow Digital to diversify their sources of revenue and seize new business opportunities beyond our shores,” said Ms Chew Mok Lee, Assistant Chief Executive, ICM & Digitalisation, Enterprise Singapore.

According to a report released by the IMDA, more than 500 small and medium-sized enterprises in Singapore have gained access to new overseas markets digitally, through digital platforms under the Grow Digital initiative. Sales by Singapore companies to overseas buyers using the platforms have been growing by at least 10 per cent month-on-month this year.

Digital Platforms increasing overseas business

There are currently five B2B platforms and six B2C solution partners pre-approved under Grow Digital, covering major markets with good e-commerce growth in Southeast Asia such as Hong Kong, China and India.

B2B Platforms: The B2B platforms enable SMEs from sectors such as industrial hardware and machinery, chemicals, processed food, pharmaceuticals, retail, and office supplies, to provide their services and products online and reach out to clients in new markets.

B2C Platforms: The Multichannel E-commerce Platform (“MEP”) Programme will help SMEs to gain rapid entry to new markets by selling their products on multiple overseas B2C e-marketplaces through a MEP provider. In addition, SMEs will receive digital marketing support and training from the Singapore Institute of Retail Studies to operate an e-commerce business.

Grow Digital enabling business continuity during COVID-19 outbreak

To provide further support for SMEs during the COVID-19 pandemic period, eligible SMEs that sign up for the MEP Programme between 1 April and 30 September 2020 will receive up to 90% grant support.

Ms Jane Lim, Assistant Chief Executive, Sectoral Transformation Group, IMDA said, “E-commerce is a critical enabler to help SMEs cope with challenges and shifts in consumer purchasing trends brought about by Covid-19 – shifts we expect will become the new normal. Through the Grow Digital initiative, we aim to help more SMEs leverage these e-commerce opportunities, and tap on the growth in overseas markets.”

 

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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