Help to head abroad

Some $25 million has been set aside to enhance IE Singapore's programmes for companies venturing overseas, to benefit an expected 200 companies over the next two years.

IE Singapore will double the maximum loan quantum under the Internationalisation Finance Scheme from $15 million to $30 million to support companies that need financing when expanding overseas.

The Global Company Partnership programme, which offers support for various activities, will also be expanded.

Support for pilot and test-bedding projects will be raised from 50 per cent to up to 70 per cent. And support for market attachments will now be extended to companies sending staff overseas to acquire new business capabilities or technologies.

For start-ups looking to broaden their overseas connections, the Government is introducing the Market Access Incubation Programme.

This will provide up to 70 per cent funding support for companies taking part in overseas missions and fairs organised by approved incubators.

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