BUILDING STARTUPS TO GLOBAL ENTERPRISES ANNUAL REPORT 2010/11

Transcription

1 BUILDING STARTUPS TO GLOBAL ENTERPRISES ANNUAL REPORT 2010/11

2 2 GROWING

3 1 CONTENTS MISSION & VISION 2 ORGANISATION CHART 3 BOARD OF DIRECTORS 4 EXECUTIVE MANAGEMENT TEAM 6 ENTERPRISE DEVELOPMENT 8 QUALITY & STANDARDS 20 ORGANISATION EXCELLENCE 22 FINANCIAL PERFORMANCE REVIEW 24 OUTLOOK FOR THE NEXT FISCAL YEAR 26

4 2 MISSION To Help Singapore Enterprises Grow and To Build Trust in Singapore Products and Services VISION Global Singapore Enterprises

5 ORGANISATION CHART 3

6 4 BOARD OF DIRECTORS Mr Philip Yeo Chairman, SPRING Singapore MEMBERS MS CHONG SIAK CHING Deputy Chairman, SPRING Singapore President & CEO, Ascendas Pte Ltd MR PNG CHEONG BOON Chief Executive, SPRING Singapore Mr MIKE BOOKER Partner, Bain & company SE Asia, Inc MR ROGER CHIA Founder, Chairman and Managing Director, Rotary Engineering Ltd Mr THOMAS CHUA KEE SENG Chairman and Managing Director, Teckwah Industrial Corporation Ltd RADM LAI CHUNG HAN Fleet Commander, HQ Fleet, AFPN 6002 MINDEF

7 MS KATHY LAI SOU TIEN Assistant Chief Executive Officer, International Enterprise Singapore MR LIM BOON WEE Deputy Secretary, Ministry of Transport Mr LESLIE LOH Chairman, Lithan Hall Academy Pte Ltd MR MAK KEAT MENG Partner, Head of Assurance, Ernst & Young Limited Liability Partnership Mr VISWA SADASIVAN Chief Executive Officer, Strategic Moves Pte Ltd MR SAKTIANDI SUPAAT Head, FX Research, Global Markets, Maybank Mr TAN CHOON SHIAN Deputy Managing Director, Economic Development Board MR WONG TOON KING Chairman and Founder, Z Group MS JANET YOUNG Managing Director, Regional Head MNC, Asia Bank of America PROF CHARLES F. ZUKOSKI, IV Chairman, Science and Engineering Research Council, Agency for Science, Technology and Research (A*STAR)

8 6 EXECUTIVE MANAGEMENT TEAM Mr PNG CHEONG BOON Chief Executive Mr TED TAN TECK KOON Deputy Chief Executive Mr TAN KAI HOE Deputy Chief Executive MS CHOY SAUW KOOK Assistant Chief Executive MS CHEW MOK LEE Group Director, Entrepreneurship & Innovation DR WOON KIN CHUNG Executive Director, Productivity Programme Office & Corporate Services MS KEE AI NAH Group Director, Industry Development Ms LEUNG WAI LING Group Director, Resources, Capabilities & Planning Mr STEVEN TAN Group Director, Quality & Standards MR TEO NAM KUAN Advisor, Quality & Standards (Sep Jul 2011)

9 BUILD AND GROW The focus continues to be on building enterprises and growing them into global businesses, especially on the wave of the global recovery in 2010.

10 8 ENTERPRISE DEVELOPMENT Small and medium enterprises (SMEs) remained focused on productivity improvements, capabilities upgrading and growth as they rode on the global economic recovery in This continual deepening of their capabilities would prepare them well to meet the increased competition and seize new opportunities in the global market. SPRING Singapore, the enterprise development agency, supported close to 3,500 SMEs in more than 3,300 upgrading projects in These upgrading projects covered a wide range of areas such as productivity improvements; automation; product, process and technology innovations; service quality; branding; intellectual property management; management systems; business leaders training; and design. When these upgrading projects are fully completed in the next one to two years, they will create close to 16,000 new jobs and generate an additional $4.8 billion in value-added for the economy. With the global economy on firmer footing, SMEs healthier financial positions and improved commercial lending climate, SMEs took up fewer government loans last year than in Some 9,700 loans amounting to $2.7 billion were made to SMEs under the various programmes administered by SPRING and its financial institution partners.

11 SPRING S KEY ACHIEVEMENTS IN Number of SMEs Upgraded 3,491 (3,318 projects) 3,157 (2,806 projects) Committed Value-Added $4.8 billion $4.5 billion Committed New Jobs 15,895 13,117 Assistance Rendered to SMEs & SME Participation in Outreach Activities 133, ,463 SME Loans Committed $2.7 billion (9,748 loans) $6.1 billion (14,252 loans)

12 10 DRIVING PRODUCTIVITY Many SMEs responded to the government s call and the Economic Strategies Committee s recommendation to increase productivity in order to be able to raise real wages and stay competitive. Based on DP Information Group s SME Development Survey 2010, 66% of SMEs have taken steps to raise productivity. To provide SMEs an additional boost in their productivity efforts, SPRING rolled out two initiatives: the Productivity@Work portal, and the Productivity Management Programme (PMP). Both initiatives are under the SME Productivity Action Roadmap (SME-PRO), jointly driven by SPRING Singapore and the Singapore Workforce Development Agency. PRODUCTIVITY MANAGEMENT PROGRAMME (PMP) To help SMEs improve productivity, the PMP was rolled out in October 2010 to provide training, productivity diagnosis and advice on productivity-related issues and projects. Productivity Advisors at the Enterprise Development Centres conduct workshops and clinics to educate SMEs and help them identify specific productivity issues and challenges. 443 SMES TRAINED PRODUCTIVITY@WORK PORTAL Launched in June 2010, the Productivity@Work portal provides a platform for companies to access productivity concepts, download basic tools and other useful resources on productivity. 23,621 UNIQUE VISITORS 6,928 DOWNLOADS

13 11 ENHANCING INNOVATION CAPABILITIES More SMEs also undertook product, process and technology innovations to develop new products and services, upgrade or transform processes, and diversify into other lines of business. Many also leveraged on the resources and expertise of Singapore s knowledge institutions such as A*STAR s research institutes and the Centres of Innovation at the polytechnics and universities. INCREASE SME PRODUCTIVITY WITH INFOCOMM ADOPTION AND TRANSFORMATION (isprint) Launched in April 2010, the isprint scheme addresses different areas of infocomm adoption for SMEs, making it easy and convenient for these enterprises to seek assistance in their infocomm adoption journey. 306 PROJECTS SUPPORTED (IN PARTNERSHIP WITH IDA) TECHNOLOGY INNOVATION PROGRAMME (TIP) TIP aims to strengthen the technological innovation capabilities in SMEs. 317 PROJECTS 36 EXPERT SECONDMENTS CUMULATIVE 960 PROJECTS SUPPORTED

14 12 TECHNOLOGY ENTERPRISE COMMERCIALISATION SCHEME (TECS) TECS aims to catalyse the formation and growth of innovative startups based on strong technology Intellectual Property and a scalable business model. INNOVATION VOUCHER SCHEME (IVS) Launched in 2009, the IVS connects public Knowledge Institutions with SMEs to encourage the adoption of technology for the development of innovative ideas. 23 PROJECTS SUPPORTED 10 PROOF-OF- CONCEPT + 13 PROOF-OF- VALUE 333 VOUCHERS AWARDED CUMULATIVE 619 VOUCHERS AWARDED CUMULATIVE 77 PROJECTS Startups which brought their technology to market with TECS

15 13 BUILDING BUSINESS CAPABILITIES With a more comprehensive suite of business capability programmes to help boost marketing, branding, intellectual property management and business management competencies, SPRING helped SMEs gain access to new markets, upgrade their capabilities and strengthen their market positions. 210 UPGRADING PROJECTS 31,000 DOWNLOADS (MARKETING TOOLKIT AND HR PACKAGE) SME MARKETING TOOLKIT LAUNCHED IN NOV 2010 DESIGN ENGAGE PROGRAMME BRANDPACT HR CAPABILITY PACKAGE SMART PROGRAMME IP MANAGEMENT

16 14 PROPELLING SERVICE EXCELLENCE CUSTOMER-CENTRIC INITIATIVE (CCI) More SMEs also viewed service excellence as a competitive advantage in securing higher customer loyalty, which had a direct impact on their profits. The multi-agency Customer-Centric Initiative (CCI) jointly led by the NTUC and SPRING focuses on helping enterprises in key service sectors- retail, food service, healthcare, transport, hotels and travel- to raise their service standards. Last year, CCI supported 77 projects that involved 156 companies, across six sectors. A customer service toolkit was also launched in November 2010 to equip enterprises with the proper service systems and skills to embark on service excellence. 77 PROJECTS SUPPORTED Launch of CCI for the travel services sector Service Excellence Icon Changi Airport Group shares customer-centric initiatives

17 15 FOSTERING INDUSTRY DEVELOPMENT For homegrown enterprises to develop into industry leaders, they must be able to compete effectively in the global market. To help the local industries do so, SPRING, together with International Enterprise Singapore (IE Singapore), Economic Development Board and Singapore Tourism Board, works with industry partners in the manufacturing and engineering, lifestyle, and services sectors to develop globally competitive clusters. THE LOCAL ENTERPRISE AND ASSOCIATION DEVELOPMENT (LEAD) PROGRAMME The LEAD programme, jointly administered by SPRING and IE Singapore, partners Trade Associations and Chambers to improve the capabilities of SMEs, boosting industry and enterprise competitiveness. LEAD provides funding support of up to 80% for approved projects, and training grants of up to 90% for secretariat staff training. DEVELOPING TRADE ASSOCIATIONS & CHAMBERS (TACS) A key LEAD focus is to train the TACs manpower and enhance their capabilities. A study mission to the US was organised in August 2010 for the TAC leaders and secretariats. They attended a conference by the American Society for Association Executives (ASAE) and visited well-established trade and industry associations to learn best practices. In addition, 122 executives from 13 associations were also supported via various training courses, seminars and workshops to be better equipped for association management responsibilities. COLLABORATION WITH TRADE ASSOCIATIONS 7 NEW PROJECTS 3 NEW ASSOCIATIONS SUPPORTED Singapore Venture Capital & Private Equity Association, Singapore Jewellers Association, Singapore Semiconductor Association CUMULATIVE PROJECTS WITH ASSOCIATIONS Associations embarking on new LEAD projects

18 16 GROOMING BUSINESS LEADERS BUSINESS LEADERS INITIATIVE Targeting leadership development, the Business Leaders Initiative focuses on enhancing management capacity both at the top and middle levels as well as building a pipeline of future leaders. It comprises three main components: the Advanced Management Programme that trains business owners, CEOs and senior executives; the Management Development Scholarship that co-sponsors MBA programmes for promising young executives; and the Executive Development Scholarship that sponsors the studies and work attachments for local undergraduates who are passionate about entrepreneurship or working in SMEs. Launch of the Business Leaders Alumni Club (BLAC)

19 17 ENTERPRISE INTERNSHIP PROGRAMME ADVANCED MANAGEMENT PROGRAMME INTERNS MATCHED TO COMPANIES 196 LEADERS TRAINED CUMULATIVE 496 LEADERS TRAINED EXECUTIVE DEVELOPMENT SCHOLARSHIPS MANAGEMENT DEVELOPMENT SCHOLARSHIPS 30 SCHOLARSHIPS AWARDED CUMULATIVE 93 SCHOLARSHIPS AWARDED 26 SCHOLARSHIPS AWARDED CUMULATIVE 61 SCHOLARSHIPS AWARDED Executive Development Scholars, (from left) Mr Muhammad Khairul Rusydi Bin Mohamad Dermawan, Ms Janice Tan Zhenxuan and Mr Ko Zhihong Business Leaders Forum 2010

20 18 CATALYSING INNOVATIVE STARTUPS Even the largest global enterprises start out as SMEs that s why a steady stream of innovative startups is crucial for building the next generation of homegrown global enterprises. To ensure that these innovative startups begin on the right foot, SPRING provides them with practical assistance and mentorship. SPRING also partners educators to imbue a culture of entrepreneurship in Singapore youths, giving budding entrepreneurs the opportunities they need to bring their business ideas to fruition. CREED Media and Flickevents were supported by YES! Startups YOUNG ENTREPRENEURS SCHEME FOR STARTUPS (YES! STARTUPS) Designed to nurture and encourage young entrepreneurs to launch their first innovative startup, YES! Startups matches $4 for every $1 raised through self-funding, schools or third-party sources, with a maximum grant of $50,000. Woodgrove Secondary School received support for its young innovators through YES! Schools YOUNG ENTREPRENEURS SCHEME FOR SCHOOLS (YES! SCHOOLS) YES! Schools provides schools grants of up to $100,000 to put in place a comprehensive structured entrepreneurship learning programme for their students. 31 STARTUPS SUPPORTED CUMULATIVE 72 STARTUPS SUPPORTED 41 SCHOOLS SUPPORTED CUMULATIVE 54 SCHOOLS SUPPORTED BENEFITTING 13,000 STUDENTS

21 19 SPRING STARTUP ENTERPRISE DEVELOPMENT SCHEME (SPRING SEEDS) An equity-based co-financing option for Singaporebased startups, SPRING SEEDS matches third-party investor contribution dollar-for-dollar up to $1 million to create innovative products or processes that possess intellectual content and strong international growth potential. 9 NEW INVESTMENTS CUMULATIVE 185 STARTUP INVESTMENTS 6 FOLLOW-ON INVESTMENTS ANGEL INVESTOR TAX DEDUCTION SCHEME (LAUNCHED IN JUN 2010) The Angel Investors Tax Deduction Scheme is a tax incentive that aims to stimulate business angel investments for Singapore-based startups, and encourage more angel investors to add value to these startups. 10 ANGEL INVESTORS APPROVED INCUBATOR DEVELOPMENT PROGRAMME (IDP) The $30 million IDP provides incubators and venture accelerators a grant to enhance capability development programmes for innovative startups. CUMULATIVE 10 INCUBATORS AND VENTURE ACCELERATORS SUPPORTED; 250 INNOVATIVE STARTUPS INCUBATED Bio-X Pte Ltd got a boost with SPRING SEEDS funding

22 20 20 QUALITY & STANDARDS For our local enterprises to compete in the global market, they have to offer trusted products and services of the highest standards. SPRING works in partnership with industry to develop and promote internationally-recognised standards, quality assurance, and at the same time, encourages local enterprises and industries to adopt these standards to build high levels of quality in products and services that the global marketplace can trust. QUALITY & STANDARDS SPRING actively encourages enterprises to use Singapore standards and international standards. We build trust in products and services and facilitate industry participation in developing new standards and aligning Singapore standards with international standards. Quality and Standards Conference QUALITY & STANDARDS PROJECTS 58 NEW CONFORMITY ASSESSMENT BODIES (CABs) ACCREDITED 82 NEW/REVISED STANDARDS 400 DELEGATES ATTENDED QUALITY & STANDARDS FOR PRODUCTIVITY CONFERENCE 2010 Panel at the Accreditation and Conformance Conference 2010

23 21 BUSINESS EXCELLENCE (BE) SPRING manages the Business Excellence initiative which provides organisations with a framework based on international standards to develop and strengthen management systems and processes. 90 BE CERTIFIED COMPANIES BE Assessors Workshop 2010 Winners of Business Excellence Awards 2010

24 22 ORGANISATION EXCELLENCE In 2010, SPRING completed an intensive and fulfilling organisation excellence journey, and was awarded SQC Star status with People Developer, Innovation Class and Singapore Service Class accreditations renewed. Singapore s efforts in promoting business excellence have also won it international recognition. The Asian Productivity Organization (APO) has designated SPRING as its Centre of Excellence (COE) for Business Excellence. This is the first time that the APO has named a member as a COE for having expert knowledge and experience in a specific area. Cultivating a well-balanced worklife SPRING at the Movies Dinner and Dance 2011 SPRINGcares Developing people through giving back to community

25 23 MOVING RIGHT ON TRACK The continual deepening of capabilities prepares SMEs for the increased competition in recovering economies, as well as new opportunities in the global market.

26 24 FINANCIAL PERFORMANCE REVIEW For Year Ending 31 March 2011 In FY2010, the level of expenditure totaled $90.3 million compared to $66.8 million in FY2009, as the Board ramped up its efforts to drive productivity and develop SMEs. This was supported by the higher grants funding of $76.6 million compared to the previous year s $59.4 million. Overall, SPRING recorded an operating deficit of $1.5 million in FY2010, due mainly to a one-off expenditure incurred for its office relocation. $ million FY2010 FY2009 Operating Income Operating Expenditure (90.3) (66.8) Results from Operating Activities (79.0) (55.6) Net Finance Income Deficit before Grants (78.1) (55.1) GRANTS (Deficit)/Surplus from Continuing Operations after Grants (1.5) 4.3 Contribution to Consolidated Fund (0.7) (Deficit)/Surplus for the Year (1.5) 3.6

27 25 $ million Operating Income $ million Operating EXPENDITURE FY2010 FY2009 FY2010 FY2009 INCOME FROM TECHNICAL SERVICES RENTAL INCOME INCOME FROM COURSES OTHER OPERATING INCOME STAFF COSTS DEPRECIATION OPERATING EXPENDITURE Operating Income Operating Expenditure The Board derived a steady operating income of $11.3 million, mainly from technical services and rental. The Board s operating expenditure was $90.3 million for FY2010, an increase of $23.5 million from $66.8 million in FY2009. Of this, $17.2 million was due to the launch of new initiatives which were supported by additional government grants. The remaining $6.3 million increase was due to increased manpower and IT costs and a one-time expenditure for office relocation. Operating RESULTS The Board recorded a deficit before grants of $78.1 million in FY2010, as against $55.1 million in FY2009. However, this deficit is offset by a corresponding increase of grants funding (from $59.4 million in FY2009 to $76.6 million in FY2010) for the new initiatives which it had undertaken. The net result was a deficit of $1.5 million for FY2010.

28 26 OUTLOOK FOR THE NEXT FISCAL YEAR Looking ahead, SPRING will continue to support SMEs in their upgrading efforts and help them grow, specifically in the areas of productivity improvements, innovation, service excellence, business leadership development and business capabilities upgrading. As part of the national productivity drive, SPRING will be launching new programmes to raise productivity in key industry sectors. SPRING will continue to strengthen the environment for enterprise development, and work with Trade Associations and Chambers to develop, upgrade and grow key industry clusters. At the same time, the entrepreneurship environment will be further enhanced, with emphasis to seed and nurture more innovative, high-growth startups. SPRING will also focus more attention on helping promising growth-oriented enterprises to become industry leaders and globally-competitive companies.

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30 28 DIRECTORY SPRING Singapore Tel: (65) Action Community for Entrepreneurship Singapore Accreditation Council Tel: (65) / Singapore Standards Tel: (65) EnterpriseOne Tel: (65) Association of Small and Medium Enterprises Tel: (65) Singapore Chinese Chamber of Commerce & Industry Tel: (65) Singapore Indian Chamber of Commerce & Industry Tel: (65) Singapore Malay Chamber of Commerce & Industry Tel: (65) Singapore Manufacturers Federation Tel: (65)

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