S'pore firms get leg-up to boost revenue, expand into new markets

EnterpriseSG programme helped over 100 firms with plans, achieving growth targets

- Timothy Goh

Local health group Minmed was at a crossroads in 2021, caught between its bricks-and-mortar business model and the surge in digital healthcare triggered by the Covid-19 pandemic.

Its founder and chief executive, Dr Eric Chiam, took the opportunity to tap Enterprise Singapore’s (EnterpriseSG) Scale-Up programme to build the company’s digital capabilities and adopt a more agile approach to innovation.

Minmed mapped out growth areas such as expanding its health screening options, strengthening wellness services and streamlining processes.

A key outcome was the identification of generative artificial intelligence as a tool to boost efficiency and improve service delivery.

"The Scale-Up programme has empowered our management team to embrace the foundational principles of AI - from concept to execution," Dr Chiam told The Straits Times on Sept 17.

"We have progressively built additional AI agents, including tools for medical summarisation, patient nudges and reminders, business analytics and workflow automation."

To date, the Scale-Up programme, which started in 2019, has supported more than 100 companies across diverse sectors in mapping out their plans and achieving their growth ambitions, EnterpriseSG said.

The programme aims to help high-potential Singapore companies grow further and become global champions.

Companies with global headquarters in Singapore that have demonstrated a strong track record of growth and good leadership are invited to join the programme by EnterpriseSG.

The firms must also have the ambition to take their business global and to transform.