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Five projects focusing on technology innovations launched to help SMEs

SINGAPORE – Five new projects under the Collaborative Industry Projects (CIP) scheme has been launched to help small and medium enterprises (SMEs) upgrade their capabilities.

SINGAPORE – Five new projects under the Collaborative Industry Projects (CIP) scheme has been launched to help small and medium enterprises (SMEs) upgrade their capabilities.

The five projects, all focusing on technology innovation, are expected to benefit 400 SMEs across multiple industries.

“Innovation is a key driver for the next phase of growth for SMEs. As business and consumer needs change, your business models and business capabilities must also innovate to adapt to these changes,” said SPRING Singapore’s Chief Executive Tan Kai Hoe.

SPRING is working with A*STAR in three of the five projects to help SMEs adopt Radio Frequency and Identification and image recognition technologies, which can improve processes like stock-taking.

The remaining two projects under the CIP scheme are done in collaboration with Dodoca Information Technology and Digital Influence Lab to help SMEs enhance sales, marketing and customer engagement capabilities.

The CIP scheme, launched in 2013, was expanded after Budget 2015 to all industry sectors from its original six priority sectors.

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