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Record Number of New Partners in 2006
1. Seventeen new organisations were welcomed into the Locally-based Enterprise Advancement Programme (LEAP) as partners in a ceremony held during Global Entrepolis @ Singapore (GES) 2006 at Suntec Singapore International Convention and Exhibition Centre.
2. The programme welcomed nine industry-based and eight country-based multipliers. Geographical representation by LEAP partners now spans the entire globe, with countries from Italy and United Kingdom to Vietnam and Indonesia joining the fold. In addition, partners from new industry sectors such as franchising and assistive technology also add breadth to the enterprise scene in Singapore.
3. LEAP recipients are important business multiplier partners. Together with other enterprise development initiatives, LEAP will help local enterprises push beyond the boundaries, and accelerate their growth through the development of new ideas and technologies. EDB is delighted to partner with our LEAP partners to nurture the local enterprise environment, and reinforce Singapore’s status as a vibrant global marketplace.
LEAP has been successful in accelerating enterprises’ growth
4. Since its launch in July 2003, LEAP has been supporting organisations that serve as catalysts and multipliers to nurture and spur young enterprises and industries. The programme started with five founding partners and grew to 30 last year.
5. With the 17 new LEAP partners announced today (see Annex for more details on the new LEAP partners), there are now 47 public and private sector entities assisting the locally-based enterprises. Currently, 369 enterprises have benefited from LEAP. An additional 342 enterprises are expected to benefit from LEAP in the next two years.
Two distinct categories of multipliers
6. The 47 LEAP partners fall into two distinct categories of multipliers, with each category assisting start-ups in different ways:
Industry-based Multipliers
These are multipliers who engage in building a critical mass of key players and capabilities to seed new industries and move existing industries up the value chain. In doing so, the multipliers spur the formation and development of enterprises, generating more economic value for Singapore. Among the 47 LEAP partners, 25 are in this category.
Country-based Multipliers
The remaining 22 LEAP partners are country-based, from all around the world. They bring companies that are well-known in their countries to Singapore. These partners include the European Centre for Business Development, Vietnam Global Gateway, and Hua Xin Innovation Incubator from Shanghai, China.
Singapore Welcomes Delegates of Asian Association of Business Incubation (AABI)
7. Singapore is delighted that the LEAP Ceremony was witnessed by the international delegates of the AABI, who are in Singapore for the Association’s 9th Assembly. As the leading Asian organisation in business incubation, AABI’s members comprise incubators from various economies in Asia Pacific such as China, Hong Kong, Japan, New Zealand and India. It promotes business incubation activities and cooperation by facilitating information exchanges among Asian incubators. AABI’s decision to host its assembly here demonstrates its confidence in Singapore and attests to the attractiveness of our vibrant enterprise environment.
New Interest from New Geographies
8. Mr Lee Yi Shyan, Minister of State for Trade and Industry, also revealed that Singapore would soon be playing a major role in attracting and developing Russian science and technology-based enterprises for the international market. EDB and the Federal Agency for Management of Special Economic Zones of Russia would be signing an agreement to establish a new Center that would serve to encourage the internationalization and commercialization of Russian technology companies, as well as promote Russia’s strong research and development capabilities through Singapore at the end of GES.
For media enquiries, please contact:
Alex Tan
Senior Officer
Marketing Communications
Tel: +65 6832-6284
Mobile: +65 9841 0392
E-mail: alex_tan@edb.gov.sg
About the Singapore Economic Development Board
The Economic Development Board (EDB) is Singapore’s lead agency responsible for planning and executing strategies to sustain Singapore’s position as a compelling global hub for business and investment.
We work closely with local and foreign companies across a diverse range of activities in both manufacturing and services to help them move towards higher value-creating operations in an increasingly knowledge-based and innovation-driven environment. We also encourage companies to use Singapore as a headquarters and total business centre to manage their global or regional functions to service their global or Asia Pacific operations.
Singapore is today a “Global Entrepolis” – a compelling global hub for business and investment where entrepreneurs and enterprise converge, spark and realise innovations, forge partnerships, and create value in manufacturing and services industries. EDB acts as a catalyst and facilitator to ensure a thriving “enterprise ecosystem” in Singapore. We encourage innovation and entrepreneurship by helping to create an environment which is conducive for start-ups and companies of all sizes to interact with each other with good corporate governance practices and where intellectual property is protected.
For more information on how EDB can help in your business and investment, please visit www.sedb.com
About LEAP
LEAP was launched jointly by the Singapore Economic Development Board (EDB), International Enterprise Singapore (IES) and SPRING Singapore in 2003. It aims to nurture and grow a diverse and viable community of multipliers that will boost Singapore’s vibrant entrepreneurial landscape by multiplying the strength and maturity of locally-based enterprises.
Multipliers are organisations that expand or intensify the impact of an initiative. Examples of multipliers in the enterprise ecosystem include industry groups, business and trade associations, and incubators.
LEAP recognises that multipliers play a key role in nurturing Singapore-based enterprises, attracting foreign enterprises from abroad and developing new and existing industries. LEAP also encourages and supports multipliers to develop capabilities and carry out new activities that generate substantial economic spin-offs for Singapore. They may apply for capability development support, on a co-funding basis, from the economic agencies.
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