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Germany-Singapore SME funding programme launched

Staff Writer | August 30, 2016
Rhe inaugural Germany-Singapore SME Funding Programme was launched by Trade and Industry Minister (Industry) S Iswaran.
Investing   The Germany-Singapore Business Forum
It was launched at the Germany-Singapore Business Forum, where two new agreements were also signed during the event.

As part of the Germany-Singapore SME Funding Programme, the first agreement was a Memorandum of Understanding between AiF Projekt GmbH, on behalf of the German Federal Ministry of Economic Affairs and Energy, and SPRING Singapore.

Funding support will be provided for joint research and development (R&D) projects, and hopes to encourage collaboration between German and Singaporean small and medium-sized enterprises.

Participating enterprises from both countries will be supported through SPRING Singapore's capability development grant, and the BMWi's Central Innovation Programme for SMEs.

The second MOU was signed between Singaporean-German Chamber of Industry and Commerce (SGC) and the Singapore Precision Engineering and Technology Association (SPETA) to benefit companies in the manufacturing and engineering sectors.

Under this agreement, the two organisations will develop initiatives and organise platforms to foster more partnerships between German and Singapore companies.

The Germany-Singapore Business Forum is a biennial event in its 12th run this year, and is co-chaired by Prof Axel Stepken, Chairman of the Board of Management of TÜV SÜD AG, and Phillip Yeo who is Chairman of SPRING Singapore.

This year's focus is on three sectors - precision engineering, medical technology and clean technology, which is also the focus of the bilateral SME Funding Programme,.