DBS Bank and Nanyang Technological University (NTU) are collaborating to help Singapore’s small and medium-sized enterprises (SMEs) scale their businesses in the Asia Pacific region, according to a joint statement released on Oct 4.

In partnership with Enterprise Singapore, the pair will offer the Enterprise Leadership for Transformation (ELT) programme. It aims to support leaders of promising SMEs in developing business growth capabilities and entrepreneurship skills relevant for expanding their businesses overseas.

The tie-up will tap the strengths and expertise of both DBS and NTU in delivering insights and thought leadership on internationalisation and innovation tailored for SMEs.

DBS and NTU will also organise overseas immersion programmes once pandemic restrictions are lifted to connect local SMEs to the regional economy and business networks. It will focus on four business corridors: Singapore-Hong Kong, Singapore-China, Singapore-India, and China-Hong Kong.

The inaugural cycle of the programme, which is tailored for local SMEs looking to expand abroad, will begin this month.

Participants should be able to develop an actionable business transformation plan by the end of the one-year programme. Modules will be taught by faculty and instructors from NTU, with senior leaders from DBS supplementing the learning experience with industry perspectives and innovation insights through workshops, fireside chats, mentorship and networking.

About 30 Singapore SME leaders from a wide spectrum of industries are expected to participate in the 2021 cycle. The full course fee is $31,886 but Singaporeans and permanent residents are eligible for 90% funding.

SMEs that still have SkillsFuture Enterprise Credits can claim up to 90% in reimbursements, which means that eligible SMEs could pay as little as $923.80.

The Straits Times