Enterprise Development Grant
The Enterprise Development Grant (EDG) supports companies in their pursuit for deeper growth and transformation in business upgrading, innovation and internationalisation.
3 Key Areas of Support
Besides helping enterprises to grow and transform, the EDG also helps businesses to upgrade, innovate and to venture overseas under the following 3 areas:
- Core CapabilitiesProjects under Core Capabilities help businesses to prepare for growth and transformation by strengthening their business foundations. These go beyond basic functions such as sales and accounting.
- Innovation and Productivity
Projects under Innovation and Productivity support companies that are exploring new areas of growth, or looking for ways to enhance efficiency. These include reviewing and redesigning of workflow and processes. Companies can also tap into automation and technology to enhance the efficiency of routine tasks.
- Market Access
Projects under Market Access support businesses that are exploring to venture overseas. The EDG can help to defray some of the cost incurred when expanding into overseas markets.
*Note: As of 1 April 2020, all applications for EDG should include commitment to worker outcomes as part of the qualifying requirements. This will include wage increment, job creation, job redesigns or training for existing staff.
What can be Supported?
Qualifying project cost that is related to software and equipment, third party consultancy and internal manpower can be supported. As announced during the Supplementary Budget 2020, for the period 1 April 2020 to 31 December 2020, the maximum level of support will be enhanced to 80%.
For businesses that have been very badly affected by the COVID-19 pandemic, the maximum level of support may even be raised to 90%, depending on a case-by-case review.
Who is eligible?
To qualify for EDG, companies must fulfil the following conditions:
-Be registered and operating in Singapore
-Have a minimum of 30% local shareholding
-Be in a financially viable position to start and complete a project
Should you require more information on the application process for the Enterprise Development Grant, please contact Woon at 9824 1643 or email email@example.com.