More help to deepen a local talent pool and greater support for longer-term research and development (R&D) projects are some forms of support businesses here hope to receive as they innovate to remain competitive, amid the roll-out of the Enterprise Innovation Scheme that was announced in Budget 2023.
Deputy Prime Minister and Finance Minister Lawrence Wong, who delivered the Budget on Feb 14, said there is a need to nurture and sustain innovation across the economy.
The scheme paves the way for companies to tap more tax deductions when they invest in innovation. Businesses, even those which may pay little or no taxes, will also have an option to get a non-taxable cash payout of up to $20,000 to defray their innovation expenses.
Firms that The Straits Times spoke to said that more support, injected midway through long R&D projects, could further help to spur innovation. In many deep tech firms, for example, the R&D process has a long gestation period. Projects may not produce significant results during the initial years and could be stopped.
Mr Richard Koh, founder and group chief executive of homegrown fintech firm M-DAQ, said an injection of government support midway through these long projects would significantly help to elevate their chances of success.
Diese Geschichte stammt aus der February 20, 2023-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der February 20, 2023-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Malaysian singer Firdhaus says he did not cheat on fellow singer Diorlying Tan
Malaysian singer Firdhaus has clarified that he never cheated on his ex-girlfriend, fellow Malaysian singer Diorlying Tan.
Liam Payne's funeral held on Nov 20
\The funeral of former One Direction star Liam Payne (above), who died in October in a fall from the balcony of his room at a Buenos Aires hotel, was held on November 20, British media reported.
Infinite to mark 15th anniversary with Singapore concert
K-pop boy band Infinite will be holding a concert in Singapore in February 2025 to celebrate their 15th anniversary.
Hilarious an ti-romance Timestalken flat biopic Widow Clicquot
The hilarious antiromance Timestalker by Lowe the Prevenge (2016) writer-director's sophomore feature - confirms the comedienne as British indie cinema's latest bright wit.
A Wicked tearful talk with Ariana Grande and Cynthia Erivo
\"Excuse me,\" Ariana Grande said, flagging down an imaginary waiter. \"May we have one million tissues, please?\"
A universal story of resilience in Wicked
Chinese-American film-maker Jon M. Chu, who helms the musical fantasy film, says the story is personal to his immigrant family
Gladiator II director Ridley Scott, 86, thrives on the adrenaline of film-making
It has been 24 years since director Ridley Scott scored one of the biggest hits of his career with Gladiator (2000), a swords-and-sandals epic starring Australian actor Russell Crowe that won the Oscar for Best Picture.
Jimmy O. Yang goes from bit player to hero in Interior Chinatown
The Chinese-American actor says he could relate to the Disney+ satirical comedy series
QUALITY OVER QUANTITY
With poet Yong Shu Hoong at the helm, the literary shindig drew smaller but more engaged crowds
S'PORE'S SENSATIONAL SWEEP
Pang, Quek defeat No. l duo in straight games to progress to WTT Finals last four
