There have been calls to streamline incentive schemes administered by various Government agencies to reduce confusion to businesses.
The existing schemes will be streamlined to provide more holistic support. Enterprises can now seek funding support for up to 70% of qualifying costs under the following grant schemes:
- Productivity Solutions Grant (PSG)
- Support pre-scoped, off-the-shelf productivity solutions
- The previous Innovation Capability Voucher and the current SMEs Go Digital Programme have grant caps of $5,000, which may be of limited support, especially for smaller companies looking to adopt off-the-shelf productivity solutions. It remains to be seen if these caps will be applied under the PSG
- As more businesses embrace cloud-based solutions, it is hoped the schemes should also support such solutions
- Apply through the Business Grants Portal (BGP) with effect from 1 April 2018
- Enterprise Development Grant (EDG)
- With the merger of IE Singapore and SPRING into Enterprise Singapore (ESG), CDG and the Global Company Partnership schemes will be combined to build deep capabilities, scale up and internationalise
- From FY2018 to FY2019
- Apply through the BGP with effect from Q4 2018
- Administered by ESG
- Partnerships for Capability Transformation Scheme (PACT)
- Support collaborations between enterprises of all sizes in areas including capability upgrading, business development, and internationalisation
- Combining EDB’s PACT and SPRING’s PACT and the Collaborative Industry Projects schemes
- There seems to be a broadening of the PACT scheme as the new scheme would also be covering areas like business development and internationalisation, in addition to capability development
- Administered by EDB and ESG
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