Enterprise Singapore formed to help businesses grow

A new government agency Enterprise Singapore (ESG) has been introduced to help companies grow their business. The agency is formed through the merger of government agencies International Enterprise (IE) Singapore and SPRING.

According to Channel News Asia, startups, SMEs and high-growth companies will have easier access to government support including digitalisation, automation and adoption of new technologies. This will allow companies to grow their business overseas and be eligible for a 70% subsidy from the government.

Companies can take advantage of this benefit starting October this year through the Enterprise Development Grant (EDG). It is a combination of International Enterprise Singapore’s Global Company Partnership (GCP) Grant and SPRING Singapore’s Capability Development Grant (CDG). It is one of many grants that was introduced by the Singapore government earlier this year including the Productivity Solutions Grant (PSG).