To further strengthen the adoption of e-Business and increase Electronic Commerce (EC) transactions among businesses in Singapore, the Infocomm Development Authority of Singapore (IDA) and Singapore Productivity and Standards Board (PSB) has put in place a S$30 million incentive...Singapore, 19 October 2000 | For Immediate Release
e-Business Development and Growth in Singapore
To further strengthen the adoption of e-Business and increase Electronic Commerce (EC) transactions among businesses in Singapore, the Infocomm Development Authority of Singapore (IDA) and Singapore Productivity and Standards Board (PSB) has put in place a S$30 million incentive programme. Known as the e-Business Industry Development Scheme (eBIDS), the programme was announced today by Mr Yeo Cheow Tong, Minister for Communications and Information Technology at the official launch of BecomeCo. eBIDS aims to assist local enterprises and startups in their e-Business knowledge acquisition, technology transfer and e-Business value creation1.
The introduction of eBIDS builds upon the successful S$9 million Local Enterprise Electronic Commerce Programme or LECP (EC) launched in November 1998 by the then National Computer Board. The LECP (EC) aims to jump-start the mass adoption of EC among local enterprises. Feedback on the LECP (EC) indicated that it has been well accepted and utilised by the industry. This programme has been vital to the successful acceleration of EC adoption in Singapore. Today, the LECP (EC) programme has achieved its' goals and objectives having approved and assisted more than 500 local enterprises in their adoption of EC.
In positioning Singapore as a major international e-Business hub, the implementation of eBIDS is vital. eBIDS will take effect from 1st December 2000 and spur e-Business growth in Singapore by addressing the challenges of e-Business value creation. These challenges include extending the reach to new international markets, optimising business processes, reducing business costs and improving customer service and relationships. There are two major components to eBIDS:
i. eBIDS - Plan 1 will continue to support the local enterprises' e-Business infrastructure needs. This will be managed by PSB. eBIDS - Plan 1 is an improved and enhanced incentive programme modeled after LECP (EC), with an expanded scope to include the use of applications through the Applications Service Provider (ASP) model. These applications include customer relationship management, electronic resource planning and supply chain management. Under this plan, solution providers will be required to comply with an ASP industry code of practice or ASP industry best practices2. The code of practice helps to ensure delivery of good service level to end-users. eBIDS - Plan 1 will support up to 50% of the qualified EC related consultancy, subscription fee for up to 12 months, hardware and software purchases. The incentive will be capped at S$20,000 per company. Unlike the LECP (EC), which only funds one project per company, eBIDS - Plan 1 allows local enterprises to apply for even more than one EC project, provided that each is for developing a different EC capability.
ii. eBIDS - Plan 2 aims to promote and accelerate the increase in online adoption by companies, EC transactions and total EC value for Singapore. eBIDS - Plan 2 is targeted at companies that already have the existing EC capabilities and wish to expand further on them. These companies will include EC exchanges and hubs. eBIDS - Plan 2, a performance based incentive programme will be administered and managed by the IDA. IDA will fund companies proportionately based on the total EC value created, up to a maximum of S$500,000. The funding will be tied to the actual online transaction value brought about by the proposed project, and will be limited to one e-Business project per year per company.
See Annex A for eligibility criteria for eBIDS - Plan 1 and 2.
"E-Commerce is important as it transcends physical boundaries, and helps companies to effectively reach out to both local and international customers. With the introduction of eBIDS, significant barriers for businesses, such as costs in their EC adoption will be removed. The IDA hopes that through eBIDS, many companies would be encouraged to take the next step forward, adopting e-Business to become more competitive in the new economy," said Dr Kaizad Heerjee, Assistant Chief Executive, Online Development of the IDA.
Dr Heerjee added, "With eBIDS, strong e-Business growth is expected to continue and accelerate in Singapore. The programme will boost the overall EC incremental transaction value of S$1 billion by 2002. This further affirms Singapore's position as a major international e-Business hub."
Mr Loh Kok Choy, Divisional Director of PSB's Local Enterprise Division, said, "PSB has set itself the goal of having one-in-three small and medium-sized enterprises (SMEs) on e-commerce by 2003. Incentive schemes, like eBIDS, will help our SMEs jumpstart the process of embracing e-commerce. PSB has a range of other programmes, which taken collectively, will help our SMEs to develop their total e-commerce capabilities."
The government and industry will continue to work together to implement various strategies to remove barriers to EC, and promote e-Business opportunities to facilitate companies transition into the new e-Economy.
Companies who are interested to find out more about eBIDS, can send an email to email@example.com.
INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE
Notes to Editor :
1 e-Business Value Creation refers to new electronic business revenue creation by the company. This includes generation of new EC transaction dollar value, number of companies conducting EC transactions and overall increase in the number of EC transactions.
2 The ASP Alliance Committee (AAC) was formed on 29th August 2000 to promote and develop the ASP market. AAC will be developing the ASP industry code of practice or ASP industry best practices. For more information, please contact Mr Christopher Yeo, Head of Policy Working Committee, AAC.
About Infocomm Development Authority of Singapore
The Infocomm Development Authority of Singapore (IDA) is a dynamic organisation with an integrated perspective to developing, promoting and regulating info-communications in Singapore. In the fast-changing and converging spheres of telecommunications, information and media technologies, IDA will be the catalyst for change and growth in Singapore's evolution into a vibrant global info-communications technology centre. For more information, please visit www.imda.gov.sg.
About Singapore Productivity and Standards Board
The Singapore Productivity and Standards Board's (PSB) mission is to raise productivity so as to enhance Singapore's competitiveness and economic growth for a better quality of life for our people. PSB's focus areas are upgrading small and medium-sized enterprises (SMEs), promoting productivity and innovation, and developing standards and metrology.
For media clarifications, please contact:
Ms Jennifer Toh
Manager, Corporate Communication
Infocomm Development Authority of Singapore
Tel: (65) 6211-0508
Fax: (65) 6211-2227
Ms Ho Chow Pheng
Head, Public Relations
Singapore Productivity and Standards Board
Tel: (65) 6279-3770
Fax: (65) 6278-5414
Annex A: Eligibility Criteria for E-bids - Plan 1 and 2
Eligibility Criteria for e-BIDS - Plan 1
- Locally registered companies with Registry of Companies and Businesses (RCB).
- At least 30% equity owned by Singaporean or Singapore Permanent Resident.
Eligibility Criteria for e-BIDS - Plan 2
- The applicant companies should be registered with RCB Singapore and physically present and operational in Singapore.