Local Enterprise and Association Development Programme (LEAD): Partners Should Know About
Trade associations and chambers (TACs) plays an important role in the major development in big business overhauling and industry advancement. You can help the companies by playing a more proactive role to enhance their competitiveness, so that they may get more opportunities for major growth. Therefore, those who want to work with development and internationalisation projects can deal with Local Enterprise and Association Development Programme (LEAD) which is lead by Enterprise Singapore (ESG) and Singapore Tourism Board (STB). This is also informing that LEAD will also support TAC-led Build Improvement District (BID) projects that are run under the Urban Redevelopment Authority (URA) which includes place management activities like physical improvements to precincts, public space management, transportation access, and cleaning and maintenance.
Local Enterprise and Association Development Programme (LEAD) can also support development projects in the following areas mentioned below:
Through technology and infrastructure, there will be an improvement in enterprise capabilities and productivity to innovate and automate which includes the acceptance of technology, development of technical standards and establishment of industry-wide infrastructure.
In this service, the development of overall industry expertise will be done through training, learning circles and industry-wide certification.
By the joining of procurement, shared services and internationalisation opportunities, the associations and businesses encourage forging alliances and leveraging mutual strengths.
Intelligence & Research:
Through this, there will be an increment in the understanding of industry trends and requirements. So that it will help to develop industry-specific solutions through comprehensive research on the basis of sound market intelligence.
This will also help to motivate and strengthen internal capabilities which will be effective change agents and industry multipliers.
The projects which are qualifying up to 70% of eligible costs are supported by LEAD that includes these following points mentioned below:
- Manpower-related costs: project members’ salaries and economy airfare
- Equipment and materials: industrial equipment, materials and consumables, hardware and technical software required for the project
- Professional services: consultancy and sub-contracting
- Business development costs: participation or organisation of industry conferences
- Intellectual property costs: licensing, royalties and technology acquisition costs
- High-Impact, Multi-TAC Projects
All high – impact projects will be done in collaboration along with TACs. Then, these projects will receive all support of up to 90%. In addition, those models which are in multi-TAC partnerships comprise collaborations along with within and across industries, or consortiums where larger TACs step up to take the initiative to engage and support smaller TACs to work towards common outcomes.
The funding will extend only to those projects which have these following mentioned below
- Display results, for example, huge efficiency changes to little and medium endeavours (SMEs)
- Have advantages to a sizeable number of SMEs
- Are creative and ready to change areas under the TACs
What is the Eligibility for Local Enterprise and Association Development Programme (LEAD)?
Those chambers and trade associations which comprise registered society in Singapore, unions of employers, professional bodies overseas business chambers and companies limited by guarantee will applicable for LEAD. TAC should also have these following criteria:
- Speak to a key industry (i.e. an industry that contributes fundamentally to the economy, has great fare potential and solid work measure)
- Have sizeable participation speaking to the business
- Have a solid reputation in helping little and medium ventures (SMEs)
- The project(s) must not begin at the season of the application
From 1 January 2017, TACs looking for a LEAD bolster for consultancy-related expenses under their industry improvement undertakings should draw in administration specialists who have Enterprise Singapore-perceived confirmation.
Apply Local Enterprise and Association Development Programme (LEAD) Procedure:
A LEAD procedure must have:
- Show an effectively thought out industry guide and interpretation of this guide into ventures for usage
- Detail the venture’s commitment to the division, for example, potential income creation (nearby or abroad), esteem add a commitment to the industry, work creation or the quantity of SMEs that will profit
- Feature open doors for improvement and making of business sectors and business openings
- Contain activities to create industry fitness
- Advantage sizeable pool of undertakings