Sports industry gets a $25 million boost
Injection will enhance the Sports Resilience Package, which helps the industry cope with pandemic
The Sports Resilience Package - unveiled last October to help the industry cope with the effects of the Covid-19 pandemic - will receive a $25 million injection, Minister for Culture, Community and Youth Edwin Tong announced in Parliament yesterday.
Mr Tong said: "Many of our sports businesses and SEPs (self-employed persons) have been affected by the pandemic...
"On top of the $50 million Sports Resilience Package announced last October, we will provide a further $25 million to enhance the SRP... All of these measures will help the sectors adapt to the new normal."
The bulk of the $25 million will go towards a new SEP Project Grant and the expansion of the Enterprise Innovation and Capability Development Grant (EICDG).
In addition, the Operating Grant for local businesses and training allowances for coaches have been extended.
The SEP Project Grant will support SEPs and businesses to develop projects that enhance the health and wellness of Singaporeans. It will be capped at $25,000 per application.
Meanwhile, the $3 million EICDG - which supports sports businesses that aim to capitalise on growth opportunities in the digital economy - will be topped up to the tune of $22.5 million until 2025.
Administered by national agency Sport Singapore, one of the first projects green-lit last year was by One Unify - which is developing artificial intelligence (AI) technology for the national basketball team that will be able to predict substitutions based on the speed and distance covered by opposition players.
The Training Allowance Grant and the Structured Mentorship Programme for coaches will be extended till March next year.
The latter disburses $7.50 per hour for individuals who attend CoachSG courses beyond their Continuing Coach Education mandated hours.
Sports businesses also received a fillip, with the Operating Grant for local companies extended till December. It offers a quantum of up to 15 per cent of total operating expenses, capped at $10,000 per month.
Mr Rajesh Mulani, co-owner of futsal facility The Cage, which has pitches at Kallang and Turf City, believes the extension puts the onus on businesses to pivot their offerings to adapt to Covid-19 disruptions.
The 50-year-old, who estimates that his facilities are currently operating at around 50 per cent of utilisation, said: "When you have a short-term lift, you don't know whether you have the time to really invent new products or new ways of raising revenues.
"But when you get a bit more time, then I think it is only fair that the responsibility falls back on us as operators to really look at re-engineering the business."
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