Government grants for Startups and SMEs

4 mins read

Govt grant for startups and smes

A few weeks back, we wrote a guide on the application process for a Productivity Solutions Grant (PSG) in Singapore. Since then, we’ve got a lot of queries from entrepreneurs and businesses enquiring whether and how they can get a grant for their enterprise.

To help business owners looking for financial aid in this challenging COVID-19 environment, we’re publishing this more comprehensive list of government grants for startups and SMEs.

Government grants for SMEs

1. Pre-approved digital solutions for technology adoption.

Step by step guide on how to apply for Productivity Solutions Grant (PSG) on the Singapore Government business grants portal, including eligibility criteria, required documents, and pre-requisites that you must have ready. Get up to 80% of cost of eligible projects such as implementation of pre-approved queue management solutions. Read more…

2. Enterprise and workforce transformation.

One time grant of up to SGD10,000 (90% of out-of-pocket qualifying costs) under the SkillsFuture Enterprise Credit (SFEC) for enterprise and workforce transformation, on top of the financial assistance provided through existing schemes.

3. Enterprise Development Grant (EDG)

The Enterprise Development Grant is meant to help your business develop its core capabilities, innovate, and expand overseas. Grants are provided under one of these three categories - Core capabilities, Innovation and Productivity, or Market Access.

Qualifying projects may apply for grants for costs such as internal manpower, software procurement, and third-party consultancy fees. Your enterprise may apply for a grant of up to 80% of the project costs, while those severely impacted by Covid-19 can seek up to 90%. See the full EDG application checklist.

4. COVID-19 disinfection and cleaning.

The Specialised Cleaning Programme grant is for companies looking to cover the costs of COVID-19 disinfection if there has been one or more confirmed cases at their premises. You can apply for up to 50% (capped at SGD3000) of the eligible costs of third-party cleaning and disinfection services.

5. Relocation.

The Land Productivity Grant (LPG) will help cover the initial costs of relocation for reasons of land use optimisation, including domestic relocation to a high-rise or smaller land-based development.

Government grants for startups

1. Grant for entrepreneurs to start a startup.

Entrepreneurs can apply for a government grant of up to SGD30,000 under the Startup SG Founder for startup capital funding and mentorship. Available for first-time entrepreneurs who must raise $10,000 in co-matching funds.

2. Early-stage funding for commercialisation.

The Startup SG Tech grant provides early-stage funding to startups for developing a Proof-of-concept (POC) or Proof-of-value (POV) and taking it to commercialisation.

By Neel Padmanabhan

August 20th, 2020 ·

« What customers do in long shopping queuesRetail strategies for the New Normal »