Business

Tech solutions for SMEs

Smaller firms may lag behind when it comes to technological innovations, but a new initiative aims to help them get up to speed.

The Tech Depot, as it is called, is a website that lists readily adoptable technology solutions that are eligible for funding support.

Tech Depot, which was launched yesterday at the annual SME day 2017 event, lets firms contact qualified vendors to provide expertise in areas such as customer management, data analytics and more.

The service was devised by the Agency for Science, Technology and Research (A*Star), the Info-communications Media Development Authority of Singapore and Spring Singapore. It can be found at www.techdepot.com.sg or www.smeportal.sg.

Mr S. Iswaran, Minister for Trade and Industry (Industry), said at yesterday's event that smaller firms often "lack the capacity, resources and connections to partake in innovation and technology creation".

This is despite SME spending on research and development growing from $550 million in 2011 to $700m in 2015.

Mr Iswaran said "the onus is on SMEs to appreciate the potential, seek out solutions and execute them effectively in order to realise the full benefits".


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