To further spur Singapore’s 5G drive, the government has launched a new $30 million fund to accelerate the adoption and commercialisation of 5G solutions.

Introduced by Singapore’s Infocomm Media Development Authority (IMDA), the fund is part of the Authority’s 5G Innovation Program that aims to create a thriving 5G ecosystem that benefits individuals and businesses.

This means that small and medium-sized enterprises (SMEs) in Singapore are now able to apply for a grant from the fund to support their digital transformation projects.

Mr. Lew Chuen Hong, Chief Executive of IMDA, hopes that this fund will see more SMEs in Singapore participate and seize the opportunities offered by 5G technology.

“5G is a key enabler for Singapore’s digital future, and I am encouraged to see our 5G partnerships with industry demonstrating good results, such as through more efficient and reliable port operations, and good progress on the ongoing trials,” he added.

SMEs that are interested in applying for the fund can submit a proposal to IMDA highlighting the commercialisation plan of their 5G-enabled solutions. Once approved, the IMDA will cover up to 70% of the project cost.