Digital Resilience Bonus (DRB)
DIGITAL RESILIENCE BONUS HAS CEASED WITH EFFECT FROM 30 JUNE 2021
The Digital Resilience Bonus (DRB) was announced during the recent Fortitude Budget in May 2020. The DRB provides additional support for enterprises that are seeking to uplift their digital capabilities in order to align with safe management practices.
The DRB will be targeted at the Food Services and Retail sectors. These are the sectors that have been hit the worst during the Covid-19 pandemic. Through the DRB, businesses in these sectors will be able to cope and transform quickly to adapt to the new digital economy.
Who is eligible?
To be eligible for DRB, companies must fulfil the following 4 conditions:
- Incorporated on or before 26th May 2020
- Have an active PayNow Corporate account
- Registered on InvoiceNow
- Using qualified solutions as listed here
Please check your eligibility using SSIC codes via the link below.
What digital solutions qualify for DRB?
The digital solutions that qualify for DRB are:
Baseline: PayNow Corporate & E-Invoicing
Baseline: PayNow Corporate & E-Invoicing
Category 1 – An F&B or Retail company has to adopt both Accounting and HR/Payroll solutions, together with Digital Ordering (for F&B) or Inventory Management (for Retail), in order to be entitled for the $2,500 bonus.
Category 2 – An F&B company has to offer online food delivery services, while a Retail company needs to have an online shopfront, in order to be entitled for the $2,500 bonus. Some examples of the online platforms include GrabFood, FoodPanda and Zeemart.
Category 3 – The F&B or Retail company needs to adopt Data Mining & Analytics in order to be entitled for the $5,000 bonus.
You can adopt solutions from either one or all of the categories, and the bonus payout will be in accordance to the amount allocated under each category.
How much can I get?
Companies are entitled to receive a total funding of up to $10,000. This is a cash bonus and you may obtain the DRB in a few stages.
How to apply?
You do not need to submit any application form for DRB. Providers of Qualified Solutions will submit your UEN to IMDA if you are using the solutions between 1 June 2020 to 30 June 2021. IMDA will credit the bonus directly into your PayNow Corporate account according to the categories of the digital solutions that you have adopted.
Delicious Food Pte Ltd operates a restaurant. It has purchased Xero (Accounting), HR Easily (HR/Payroll) & iChef (Digital Ordering) from the approved vendor, 361 Degree Consultancy Pte Ltd. Having adopted all the solutions from DRB Category 1, Delicious Food will get to receive a bonus payout of $2,500.
A month later, Delicious Food also joined GrabFood to provide online food delivering services. It will then be able to receive another $2,500 from DRB Category 2.
DIGITAL RESILIENCE BONUS (DRB): Frequently Asked Questions (FAQ)
Currently the DRB is only applicable for the F&B and Retail sectors. However it may be rolled out to other new sectors if this proves to be successful in enabling digital transformation for the F&B and Retail sectors. Please complete the form below to register your interest and we will keep you posted once there are updates on DRB being made available for the other industries.
No, you do not need to submit any application. Your solutions provider will submit your UEN to IMDA and the bonus payout will be credited to your PayNow Corporate account directly. Please complete the form below to register your details in order to expedite submission.
Payouts will commence from August 2020. IMDA will take about 1 to 2 months for the processing upon submission of the UENs by the solutions providers. The payouts will be credited to your PayNow Corporate account directly and you can check your account to see if the funds have been received.
If your POS system is a qualified solution that is recognized by IMDA, then you will just need to adopt another two solutions ie. Accounting (eg. Xero or ABSS) and HR/Payroll (eg. HR Easily or Payboy), in order to qualify for Category 1 under the DRB. The bonus payout will be $2,500.
If the solutions are under the approved list, and are purchased from the approved vendors, then you are still eligible.
Unfortunately, only companies that are incorporated on or before 26th May 2020 can apply.
Yes, you may appeal directly with IMDA, providing supporting evidence, eg. showing a physical store or transaction history.
Yes, you can still apply for DRB. These grants can be mutually inclusive.
Yes, you can upgrade your software and still be eligible for DRB.