Temasek sets up $150m fund for skills training, scholarships in Stem fields

It will also launch fellowship programme to attract global experts to help SMEs here

- Shermaine Ang

State investor Temasek will set up a $150 million fund for skills training and talent development in Singapore.

To sustain efforts over the long term, $6 million – 4 per cent of the $150 million – will be distributed annually, over about 25 years.

Singapore’s investment company, which celebrates its 50th anniversary in 2024, said that the gift – called T-Spring – aims to build a workforce that will enable businesses to meet the needs of a changing marketplace.

The fund will be used primarily to set up scholarships for those from low-income families to pursue undergraduate or postgraduate studies, and to reskill workers at risk of being displaced by technological advancement.

It will also fund programmes that boost the employability of seniors and persons with disabilities or special needs.

Temasek will prioritise scholarship applicants for science, technology, engineering and mathematics (Stem) studies, and from low-income backgrounds. It is targeting student intake in the academic year 2025/2026 for its first batch of scholarship recipients.

Temasek announced this on June 25, the date of its incorporation and its designated annual Community Day, when employees give back to the community.