Enterprise Singapore launched its inaugural Scale-Up SG programme on 10 July 2019, with 25 local companies selected to take part.
The Straits Times reported that companies entered the programme on an invitation-only basis.
They were selected for having a global headquarters in Singapore, a proven track record of growth, strong leadership ambition, and the ability to create positive economic spin-offs like job opportunities.
Scale-Up SG was first announced in Budget 2019, and will run as a 2.5 year programme.
Participating companies will work with Enterprise Singapore’s anchor partners McKinsey & Company and PwC Singapore.
Enterprise Singapore will pay up to 70%, while the participants bear the remaining of the cost under the programme.
“Scale-up SG is a specially-curated programme which aims to groom our high-growth local enterprises into global champions,” said Enterprise Singapore Chairman Peter Ong.
He believes the diversity of the companies chosen will “enrich peer learning, spurring each of them towards even greater growth”.
“It takes a strong team to build a great company,” he added.