Business Model Transformation

Business Model Transformation is a structured approach that helps you create and sustain business value by translating your competencies, know-how, market knowledge and ideas into new or improved business models. This can be accomplished through the use of tools, such as Business Model Innovation and Design Thinking.

Supportable Activities

A business model transformation project typically comprises of the following process:

  • Conduct market gap analysis to benchmark your business’ current performance and identify opportunities
  • Generate ideas to leverage market trends and opportunities
  • Identify and validate those ideas (e.g. creation of new business model, products and/or services)
  • Develop a roadmap to implement those ideas and tap on potential growth areas

Non-supportable Activities

The following activities/cost items are not supportable under the CDG as they are considered to be operational in nature and not exclusive to capability development projects:

  • Commercialisation costs (e.g. mass production of prototype for sale, coding of e-Commerce platform, etc.)
  • Stand-alone market feasibility study

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  • SME Consulting Programme offers business the opportunity to engage SMU students supervised by SMU faculty or industry practitioners for business model transformation projects, with financial support from the UOB-SMU Asian Enterprise Institute.

Case Studies