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News - Detailed News Story

Scale-up SG to groom promising local firms to be world powerhouses

12 Jul 2019 09:00

Mr Chan says Scale-up SG aims to strengthen companies at the "core" of Singapore's business landscape, which he describes as those in the middle tier. BT PHOTO: GAVIN FOO

By Vivien Shiao

A NEW initiative to turbo-charge the growth of promising local enterprises to become international names was launched on Wednesday, as part of the government's efforts to grow more companies that can compete on the world stage.

Known as Scale-up SG, the 2½ years invitation-only programme - first announced in Budget 2019 - aims to groom high-growth companies with a proven track record and the aspiration to scale rapidly.

This is a marked move by the government towards more targeted support for companies ready for their next phase of expansion, even as broad-based measures remain in place for fledgling firms to get off the ground.

Among the well-known names that made the cut for the pioneer run include Jumbo Group, PBA Group, Goldbell Corporation and Koufu.

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Source: Business Times

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