SMEs in Singapore to get support in AI-related fields

Singapore will offer practical support to small and medium-sized enterprises (SMEs) to help overcome operational challenges through artificial intelligence (AI), rather than traditional grant funding. 

The support initiative was launched on Jan 22 and is titled “The AI Foundry for SMEs”. It will provide access to a $1 million fund for hardware, engineering support and training, backed by technology firm Lenovo in collaboration with the Association of Small and Medium Enterprises (ASME) and the Institute of Technical Education (ITE).

Firms with AI pilot projects can apply to be selected for the program. It will support 10 flagship AI pilot projects with clear business workflows and measurable outcomes. These pilots are intended to serve as repeatable blueprints that other SMEs can later adapt, lowering the barrier to AI adoption across sectors.

This time, there is no fixed funding cap, and firms do not need to meet any size requirements to be eligible for the fund. Support will be provided based on business needs, with flexible timelines and occasional reviews.

Small companies that often have limited staff or whose turnover does not exceed the usual amount will benefit significantly from this program. According to ASME, 94% of Singapore businesses are firms like these and they employ nearly half of the workforce.

SMEs can apply for the program starting April 1. All the details will be available on ASME’s website.