Helping hands

• Main Authors: PAN, Gary, SEOW, Poh Sun, GOH, Clarence
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2017
• Subjects: Disruptive technologies; technological innovations; Entrepreneurship; Singapore; Accounting; Technology and Innovation
• Online Access: https://ink.library.smu.edu.sg/soa_research/1717; https://ink.library.smu.edu.sg/context/soa_research/article/2744/viewcontent/Helping_Hands_Riding_the_waves_of_disruption.pdf
• Institution: Singapore Management University

Disruptors have found new ways of transforming various industries with intelligent technologies which have put significant pressure on enterprises in Singapore and around the world. With a good education and training system, and a cohesive relationship among the Government, businesses and people, Singapore is well placed to respond to such digital disruptions. Nevertheless, Singapore companies must strive for quality growth based on innovation, expand beyond Singapore and create an environment that enables innovation, said Minister in the Prime Minister’s Office and Labour chief Chan Chun Sing. No two industries are disrupted in the same way. With help from the Economic Development Board (EDB), SPRING Singapore, Infocomm Development Authority of Singapore (IDA) and International Enterprise (IE) Singapore, specific strategies can be devised for individual companies to develop new technologies or invest in the upgrading of skills. This will ensure that companies in Singapore constantly improve and stay proactive against disruption. In the next section, we will look at some tax and non-tax incentives that are in place to assist companies with respect to disruption.