Overview
To develop a sustainable talent pipeline into SMEs, there is a need to look at strengthening SMEs’ capabilities to identify, attract, develop and retain good talent. The Enterprise Internship Programme (EIP) seeks to positively engage and expose local university and polytechnic students through short-term internships to the working environment in high-growth SMEs. Under the mentorship and coaching of the senior management team, the Intern is exposed to the interesting dynamics of running an SME. This experience will not only hone one’s leadership acumen, but also encourage a better understanding and appreciation of the SME sector.
The programme places quality talents from local universities and polytechnics in high-growth SMEs who are committed to provide a meaningful and quality internship experience through mentorship and engagement with senior executives and exposure to business management functions through job rotation.
SPRING works closely with the universities and polytechnics (NTU, NUS, SMU, Temasek Polytechnic, Republic Polytechnic, Ngee Ann Polytechnic, Nanyang Polytechnic and Singapore Polytechnic) to identify young talents to participate in the programme.
Criteria
For SMEs
To be eligible, companies need to meet the following criteria :
SME* with at least S$10 million in annual sales turnover #
Demonstrate strong growth potential^
Clearly articulate the learning outcomes through an internship plan for each EIP Intern, including coaching and mentoring by the senior management team
Offer meaningful and substantive opportunities with at least one job rotation in the business area
* SMEs are defined as companies with at least 30% local shareholding, group fixed assets below S$15 million and less than 200 employees
# Turnover to include only value added products and services
^ Compounded Annual growth Rate (CAGR) for last 3 years is above industry average
Commitment and Deliverables of the Participating SME
Participating SMEs are expected to put in the commitment and effort in the following deliverables :
Objectives | Deliverables |
| Development of EIP Internship Track | Pre-Internship Plan submitted with EIP application that indicates : i) Learning outcomes of internship ii) Projects/Assignments to be given to intern iii) Mentoring hours per week by senior executive iv) Overseas exposure, if any Post-Internship Review i) Submit a performance report on Intern upon internship completion ii) Review EIP Internship Track plan and improvements to be made for the next run, if any. |
| Participation in SPRING-led activities to profile companies amongst young talent pool | Commitment of SME senior management to participate in at least ONE of the following activities when requested by SPRING :
|
| EIP Intern’s Compensation Package | Adherence to the compensation amount for EIP Interns Timely payment of stipend to EIP Interns (see Table 1) |
For Students
Students will be shortlisted and recommended by their schools~ to be an EIP Intern based on the following criteria :
- Are a citizen or permanent resident of Singapore
- Possess leadership traits, as shown through leadership roles in CCA or other ad-hoc school events or activities
- Demonstrate positive attitude and maturity
- Have at least B-average GPA, preference given to penultimate students
- Selection rounds may include an interview by SPRING, the institutes of higher learning and SMEs
~ SPRING’s partners are NTU, NUS, SMU, Nanyang Polytechnic, Temasek Polytechnic, Singapore Polytechnic, Ngee Ann Polytechnic and Republic Polytechnic
Grant Support Structure
SPRING will co-fund 50% of supported items. Minimum 10 weeks, up to 16 weeks.Table 1 : EIP Polytechnic
Supported Items | Polytechnic |
| (I) Weekly Stipend | $200 |
| (II) Completion Book Prize | $1,000 |
| Total Internship Stipend per intern, where D = Internship Duration | ($200 x D) + $1000 = $4,200 |
| Co-funding by SPRING | Up to 50% |
| Total Cost to participating SME (paid out as internship stipend) | $2,100 |
| Note: Above example based on internship duration of 16 weeks. | |
Table 2 : EIP University
Supported Items | University |
| (I) Weekly stipend | $300 |
| Total Internship Stipend per intern, where D = Internship Duration | ($300 x D) = $4,800 |
| (II) Developmental Activity | $2,000 |
| Co-funding by SPRING | Up to 50% |
| (A) Internship Stipend paid out by participating SME | $2,400 |
| (B) Developmental Activity | $1,000 |
| Total Cost to participating SME (A) + (B) | $3,400 |
| Note: Above example based on internship duration of 16 weeks. | |
How to apply?
For SMEs
To apply, please complete and submit the application form with relevant supporting documents to EIP@spring.gov.sg.Please kindly mention Scholarization.blogspot.com when applying for this opportunity
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