Announcing Digitalisation Innovation Programme: Womenprenuer 2025
Announce D.I.P:W 2025 and cement UOB FinLab’s commitment to empowering female entrepreneurs.
Digitalisation is not just a competitive advantage, it is a necessity
Since 2018, UOB FinLab has been actively supporting and shaping SME growth through digitalisation. Throughout the years, we have seen a consistent increase of ASEAN SMEs wanting to adopt digitalisation solutions and strategies into everyday operations.
Digitalisation continues to rapidly evolve every year. Back in 2018, digitalisation was used to gain a competitive advantage. Now, it is a necessity to successfully operate a business.
Internet of Things (IoT) and 5G were the hot topics of 2018 when we first started supporting SME’s business transformation. Fast forward to 2025, we are now talking about Agentic AI that has the potential to completely transform industries through independent decision making without human intervention. You can read about our thoughts on evolving AI technologies here.
We are now living in an interconnected digital world where digitalisation tools can enable SMEs to improve everyday operations, unlock new revenue opportunities and even enhance productivity to compete on a more even footing with larger, more established companies.
Increasing demand in ASEAN for digitalisation solutions
There is no denying that ASEAN business owners understand the benefits digitalisation can bring. Smaller firms in Singapore, Indonesia, Malaysia, Thailand and Vietnam are forecasted to spend S$173.6 billion on technology which represents a 70 per cent increase over the next three years.
SMEs are particularly keen to use digital technologies to streamline business operations and use tools to gain new customers and grow their business.
Out of the countries in ASEAN, Singaporean SMEs are in the lead when it comes to digital adoption, according to a survey of 750 companies across the region commissioned by TDCX. The survey showed that approximately 36 per cent of Singaporean SMEs had already digitalised a significant portion of their operations whereas only between 16 per cent and 26 per cent of their regional counterparts had done so.
We believe that digitalisation will continue to be a priority across all countries in ASEAN and we expect adoption numbers to rise across the region.
This is why we are present in five key markets across ASEAN. Our presence in Singapore, Malaysia, Thailand, Vietnam and Indonesia will further enable SMEs to tap onto our cross-border network to drive digitalisation initiatives and help SMEs catalyse business growth.
Creating long-term success through UOB FinLab’s network
Over 9 in 10 companies recognised the importance of digital transformation according to a survey by the Singapore Business Federation (SBF). However, nearly three-quarters of the businesses cited “high cost” as a barrier, making it the biggest roadblock to technology adoption.
The good news is that the Singapore government has been very supportive in alleviating some of the initial financial hurdles. Two-thirds of survey participants mentioned that they found the Productivity Solutions Grant most useful in supporting their digitalisation journey. There are many other grants such as the Enterprise Development Grant (EDG) and others which can be found here.
An equally tricky task is gaining access to knowledge, expertise and being able to seek guidance on the best practices to better utilise digitalisation. Technology is ever-evolving and it takes a proactive approach to ensure SMEs understand how new solutions can support their businesses.
We recognise this and remain committed to helping SMEs across industries unlock their potential through digitalisation. We will continue to achieve this through our digitalisation programmes such as our Digitalisation Innovation Programme: Womenpreneur or Start Smart Programme. Our programmes leverage our vast network of 33,000 professionals that include mentors, industry leaders, and solution providers.
By tapping onto our network, SMEs across the region will gain access to knowledge, best practices and how to navigate their digitalisation journey. A collaborative network also enables new touchpoints for business opportunities and partnerships.
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Digitalisation is not just a competitive advantage, it is a necessity
