Ideas for the Economic Strategies Committee Solicited

Guest contributor, Prof Wong Poh Kam is part of the National University of Singapore (NUS) taskforce to give inputs to the government-led initiative, the Economic Strategies Committee (ESC). Out of the broad range of topics covered, one of Prof Wong’s task is also to solicit ideas as to how to improve the Singapore entrepreneurial support ecosystem. Here, he explains the initiative and seeks your ideas.

Marina Bay, Singapore Skyline.

Prof Wong Poh Kam writes:

As some of you may be aware, the Singapore government has recently established a high-level, inter-ministerial Economic Strategies Committee (ESC) to develop and recommend strategies to grow Singapore’s future as a leading global city in the heart of Asia. You can visit the ESC website to get more details on the composition, scope and objectives of the ESC, which aims to put forward its key recommendations in January 2010 and will release its full report by mid-2010.

One of the sub-committees (Sub-committee 2) set up under the ESC is tasked to look into “Developing A Vibrant SME Sector And Globally Competitive Local Companies”. Co-chaired by Mrs. Lim Hwee Hua (Minister in the Prime Minister’s Office and 2nd Minister (Finance and Transport)) and Dr. Ricky Souw (CEO, Sanwa Group and President of Singapore Precision Engineering and Tools Association), this sub-committee will recommend strategies to:

* Develop a vibrant landscape of entrepreneurial activity
* Foster the growth and internationalisation of Local Globally Competitive Companies
* Strengthen synergies between small and large enterprises

The above issues are highly relevant to the future development of the entrepreneurial ecosystem of Singapore. In addition, there are several other ESC sub-committees that may cover issues of relevant interest to the entrepreneurial community, including Sub-committee 1 (Seizing Growth Opportunities), Sub-committee 4 (Growing Knowledge Capital) and Sub-committee 5 (Making Singapore a Leading Global City).

I would like to strongly encourage everyone in the entrepreneurial community of Singapore to contribute your ideas. You can do so directly by going to the online consultation page of the ESC website to submit your suggestions and feedback. If you like to share your ideas with others in the community so as the solicit comments and feedback from others, can I suggest that you also submit your thoughts as a response to this blog post – hopefully we can then generate a healthy online discussion among the community.

I happened to be involved in a task force set up within NUS to provide inputs to the ESC, and so will be more than happy to not only participate in this online discussion myself, but also to champion some of the best ideas emerging from this online discussion (with appropriate attribution of course) through this channel as well. I look forward to your active contribution!

This post has been republished with permission of the author.

About the Economic Strategies Committee (ESC)

The ESC will develop strategies for Singapore to build capabilities and maximise opportunities as a global city in a new world environment, so as to achieve sustained and inclusive growth. Chaired by Mr Tharman Shanmugaratnam, the ESC comprises members drawn from Government, the labour movement and the private sector. The 25-member Committee aims to bring a wide range of views and fresh ideas. They include 14 private sector representatives, drawn from the manufacturing and services sectors; foreign and local enterprises, large and small; as well as academia.

About the Author

Dr. Wong Poh Kam [LinkedIn] is a professor, angel investor and consultant. He holds positions at the NUS Business School, (by courtesy) at the NUS Engineering School and LKY School of Public Policy. He is also the Director of the NUS Entrepreneurship Centre. As an angel investor, Dr. Wong has invested in many high-tech firms and sits on the boards of many. His portfolio companies include Invantest, iWow and GlobalRoam. He has consulted widely for international agencies such as the World Bank and ADB, various government agencies in Singapore such as EDB, IDA and A*STAR, as well as many high tech firms in Asia.

Dr. Wong Poh Kam blogs at Connect The Dots@Singapore.

Image courtesy of yeowatzup.

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