EDG (Enterprise Development Grant)
Spring Singapore’s Capability Development Grant (CDG) and International Enterprise Singapore’s Global Company Partnership (GCP) grant have been combined into the Enterprise Development Grant (EDG).
Enterprise Development Grants are administered by Enterprise Singapore (which is a merged entity of SPRING and IE Singapore). The objective is to provide holistic and cusomised support to local enterprises seeking to build deep capabilities, scale up, and internationalise.
Similar to CDG, you can get funding up to 90% if your project is approved.
For more information, please visit: https://www.enterprisesg.gov.sg/financial-assistance/grants/for-local-companies/enterprise-development-grant/apply/pre-application
PSG (Productivity Solutions Grant)
“The Productivity Solutions Grant (PSG) is a new initiative, coordinated by MTI’s Grants Management Office (GMO) and administered by the relevant agencies, to assist businesses in its transformation journey. Aligned to the Industry Transformation Maps (ITMs), PSG provides support for the adoption of IT solutions and equipment that have been pre-scoped by the industries’ lead agencies.” (Source: IMDA website)
eFusion Technology is offering an eCommerce or eCatalogue web design and development package (under E-Commerce – Online Shop and Marketplace category) which will be 80% claimable from Business Grant Portal as pre-approved package. Visit our PSG landing site for more details about the package: https://www.efusiontech.com/ecommerce-grants/
For further information, please refer to https://govassist.gobusiness.gov.sg/productivity-solutions-grant
SkillFuture Enterprise Credit (SFEC)
With a combination of PSG and SFEC, local SMEs might be able to get more than just 80% funding for your eCommerce Website. PSG covers 80% of the cost and SFEC can cover 90% the remaining out-of-pocket amount. This can work out to a maximum of 80% + 18% of the total PSG cost.
The SkillsFuture Enterprise Credit (SFEC) is created for businesses to advance in enterprise transformation and proficiencies of their employees. Eligible businesses will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes.
Qualifying Periods where you need to meet your eligibility:
- 1 April 2019 – 31 March 2020
- 1 July 2019 – 30 June 2020
- 1 October 2019 – 30 September 2020
- 1 January 2020 – 31 December 2020
- Have contributed at least S$750 Skills Development Levy over the period
- Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period
- Have not been qualified at any of the earlier periods
Eligible businesses or employer who meet the following conditions will be notified in writing.
For more information about SFEC, please visit https://www.skillsfuture.sg/sfec
Digital Resilience Bonus (DRB)
Get up to $10,000 bonus payout credited to your PayNow Corporate account in addition to any existing enhanced digitalisation assistance your company already has under IMDA (eg. PSG, SFEC). This bonus is targeted at the Food Services and Retail sector currently as they have a greater urgency to uplift their digital capabilities to adapt to new post-COVID safe management practices.
To qualify for the bonus, your business has to:
Be incorporated on or before 26 May 2020
Adopt PayNow Corporate and PEPPOL e-invoicing
Adopt predefined categories of digital solutions by 30 June 2021
The $10,000 bonus is split between 3 categories of digital solutions specific to the F&B and Retail sectors. Each category has a capped bonus amount and you may adopt all three categories to receive the maximum $10,000 bonus.
You will get $2,500 under DRB category 2 for PSG projects done with eFusion Technology.
Application is not needed. If you are qualified, we will apply for the DRB on your behalf.
The DRB will be credited to your PayNow Corporate account from August 2020 onwards.
For more information about DRB, please visit https://www.imda.gov.sg/DRBonus
Market Readiness Assistance (MRA) Grant
Get up to 80% of eligible third-party costs supported under the Market Readiness Assistance (MRA) grant. This cover activities such as:
- Overseas market set-up
- Identification of business partners
- Overseas market promotion
The Capability Development Grant (CDG) is a financial assistance programme that helps SMEs develop capabilities across 10 development areas, ranging from raising service standards, adopting technology to staff training and overseas expansion. The grant supports a wide-ranging of capability upgrading initiatives to help them grow the businesses locally and globally.
The grant defrays up to 80% of qualifying project costs such as consultancy, training, certification and equipment costs. You can take on large scale upgrading projects in areas like increasing productivity, process improvement, product development and market access.
To encourage more SMEs to build business capabilities, the application process for grant support of $30,000 or less has been simplified. You can look forward to simpler application forms and reduced documentation requirements for such projects.
This grant has ended. Read more about EDG above.
iSPRINT (Increase SME Productivity with Infocomm Adoption & Transformation) scheme addresses the different areas of infocomm adoption for the SMEs, making it easy and convenient for these enterprises to seek assistance to help them along their infocomm adoption journey for 1st time adopters.
This grant has ended. The grant has been streamlined into the Productivity Solutions Grant (PSG), which went live on 1st April 2018. Read more here.
ICV is a $5000 grant offered by SPRING for each specific area of Innovation, Productivity, Human Resource, Financial Management.
This grant has ended.The grant has been streamlined into the Productivity Solutions Grant (PSG), which went live on 1st April 2018. Read more here.
SMEs Go Digital was announced at Budget 2017 to help SMEs build stronger digital capabilities to seize the opportunities for growth in the digital economy. Building on the foundation of Enhanced iSPRINT, SMEs Go Digital takes on a more structured and inclusive approach towards the adoption of digital technologies by SMEs.
The grant support for pre-approved solutions under the SMEs Go Digital programme will be streamlined into the Productivity Solutions Grant (PSG), which will go live on 1st April 2018. Read more here.
Government Grant FAQ
The government grants have evolved over the years. There are lesser red tapes now and the processes are much more clearer. You will usually be able to claim your money back by working closely with trustworthy vendors.
I am sorry but the answer is no. The government has a list of approved vendors and solutions, so do your checks before engaging their proven services.