This New Gov’t Scheme Helps S’pore Tech Companies Rent Overseas Skills – Pilot Begins In This autumn 2019

The Financial Growth Board (EDB) and Enterprise Singapore introduced yesterday (30 July) a brand new scheme referred to as Tech@SG.

This two-year scheme will begin pilot solely within the fourth quarter of this yr.

Underneath this programme, tech corporations in Singapore may have extra flexibility in employment cross (EP) functions to allow them to simply rent overseas skills.

EP is relevant for overseas professionals who’ve a job supply in Singapore, work in a managerial, government or specialised job, earn a hard and fast wage of a minimum of $three,600 and have qualifications like an excellent college diploma or specialist expertise.

With this scheme, different elements might be thought of within the utility, equivalent to inventory choices remunerations of the core workforce members, or their deep skillsets as an alternative of educational qualifications.

Bridging The Tech Expertise Hole

Of their media assertion, the 2 businesses stated that high-potential corporations in development areas equivalent to digital, medtech, biotech, cleantech, agritech and fintech will get entry to enterprise networks and expertise wanted to arrange new groups.

This contains connecting the businesses to related organisations and start-ups right here, in addition to facilitating the entry of core workforce members.

“Our high-growth corporations with know-how wants will profit from the experience that world tech expertise can convey. That is particularly so for tech start-ups that require the assets to strengthen their tech capabilities and scale up extra rapidly,” stated Edwin Chow, assistant CEO of Enterprise Singapore.

In all, this scheme serves as an excellent name as there’s a tech expertise scarcity in Singapore and it often takes a minimum of three months to refill a tech function, in line with a examine by Robert Walters.

Featured Picture Credit score: AFP