Launch of a new program for the development of promising young companies in the news media sector

SINGAPORE: On Wednesday, November 7, the Minister of Communications and Information, Iswaran, launched a new program to support the growth of promising start-ups in Singapore.

Called SG: D Spark, the program – Infocommunications and Media Development (IMDA) – aims to address the challenges facing companies in the media sector infocomm and support them through selected government grants and access to community partners in the sector.

It is intended for Business to Business and Business-to-Consumer customers.

As part of this program, new businesses will be able to access and leverage existing TechSkills Accelerator (TeSA) workforce programs to support and grow their businesses. They will also benefit, among other benefits, from the processing of grant applications by IMDA as well as access to community events, professional service companies and industry mentors.

Among the industry partners and institutions of higher education that will support these companies include Facebook and the National University of Singapore.

Howie Lau, Industrial Development Manager at IMDA, said the program was intended to fill some of the gaps young businesses face, such as access to funds and talent, and the mobilization of multiple resources.

"(The program consists of) helping them to access new potential clients – including government as a client, to access talent and to help them with a community of support services as well – be it legal , whether with accounting or others. "

"The companies we are looking at – the AI, the blockchain, the Internet of Things. But at the same time, all new companies that have a very strong technology-innovation angle can apply, "Lau added.

The program was launched at the inaugural Singapore Digital Techblazer Awards, held at the Resorts World Sentosa Convention Center, in recognition of Singapore's most innovative companies.

Eight companies were rewarded in three categories, including the ones with the most potential in Singapore and abroad, who have adopted the best digital technology. IMDA said it received 331 applications for this award.

They include M-DAQ Pte Ltd for their Aladdin solution, which allows online merchants to value items in their customers' currency and receive payment in the desired currency through a rate of fixed conversion.

Mr Iswaran said the infocomm media were a key engine of Singapore's economy and needed to be further developed to meet the new demand.

"With support from community experts and government tools, we aim to provide the resources, knowledge and network that are critical to business growth," he said. declared.