Core team members of fintech firms will be able to have employment pass applications expedited under a pilot program that will start in Q4 2019.
The Economic Development Board (EDB) and Enterprise Singapore announced on Tuesday the launch of the Tech@SG program to help tech companies grow in Singapore and expand in the region.
The program, which will last for two years will «provide high-potential companies in growth areas such as digital, medtech, biotech, cleantech, agritech and fintech, access to business networks and talent needed to set up new teams in Singapore,» the two agencies said in a joint statement.
The agencies did not elaborate on how employment pass applications will be different for firms under this program, but an EDB spokesperson was quoted by «The Straits Times» as saying that manpower flexibilities will be provided for these firms if necessary. This includes considering alternative criteria in the application, such as deep skills instead of academic qualifications.
Talent War
Banking and tech firms have been competing for talent at all levels. A shortage of qualified professionals in this field has stifled product development, recruiters say.
Many banks are looking to hire technologists as the continue to digitalise, but are losing out to tech companies due to their slow hiring process and lack of defined roles in such positions, according to «efinancialcareers».
