7 SME grants in Singapore for every business

● Grant Amount

Startup SG Founder offers up to 30,000 SGD in funding for first-time entrepreneurs to kickstart their innovative business ideas.

This funding is provided in the form of a startup capital grant, which can be utilized to cover various business expenses, including operational costs, product development, marketing, and more. 

● Eligibility

To qualify for Startup SG Founder, applicants must meet certain eligibility criteria. They must be Singaporeans or Permanent Residents aged 18 and above, with innovative business ideas that have not been commercialized before.

Additionally, applicants must commit full-time to the proposed business venture and hold at least 51% equity in the startup. 

● Who is it for

Startup SG Founder is designed for aspiring entrepreneurs who are passionate about bringing their innovative business ideas to life.

Whether you're a recent graduate with a groundbreaking concept or an individual looking to transition from employment to entrepreneurship, this grant provides valuable financial support and resources to help you turn your vision into reality.

● How to apply

The application process for Startup SG Founder is straightforward. Interested applicants can visit the Startup SG website to access the application form and guidelines. Applicants are required to submit a detailed business proposal outlining their innovative idea, market potential, competitive landscape, and implementation plan.

The proposals are then evaluated by a panel of assessors appointed by Enterprise Singapore. Successful applicants will receive grant funding, along with access to mentorship, networking opportunities, and other support services to facilitate the launch and growth of their startups. 

● Introduction

Startup SG Tech is a grant initiative aimed at supporting technology startups in Singapore, providing them with financial assistance and resources to accelerate their growth and innovation. 

● Grant amount

Startup SG Tech offers funding support of up to 750,000 SGD to eligible startups. This funding is intended to facilitate product development, technology adoption, and market validation efforts.

● Eligibility

To qualify for Startup SG Tech, startups must meet specific eligibility criteria. They should be registered or incorporated in Singapore and focused on developing proprietary technology-based products or solutions.

Additionally, startups should demonstrate the potential for significant innovation and scalability in their chosen technology domain. 

● Who is it for

Startup SG Tech is tailored for technology startups across various sectors, including but not limited to information technology, biotechnology, engineering, and advanced manufacturing.

Whether you're a software developer, hardware engineer, or biotech researcher, this grant provides the necessary financial support and resources to drive technological innovation and commercialization. 

● How to apply

The application process for Startup SG Tech involves several steps. Interested startups can begin by registering their interest on the Startup SG website and completing the online application form.

Applicants are required to provide detailed information about their business, technology solution, market opportunity, and team capabilities. Additionally, startups may need to submit supporting documents, such as business plans, financial projections, and technology roadmaps.

The applications are then reviewed by a panel of experts appointed by Enterprise Singapore, who assess the feasibility, innovation, and market potential of the proposed technology solutions.

Successful applicants will be notified and provided with grant funding, along with access to mentorship, industry networks, and other support programs to help them scale and succeed in the competitive technology landscape.

● Introduction

The Enterprise Development Grant (EDG) is a government initiative in Singapore aimed at providing financial support to local businesses looking to upgrade capabilities, innovate, and expand internationally. 

● Grant amount

The EDG offers funding support of up to 70% of qualifying project costs. This includes expenses related to consultancy, training, equipment acquisition, and overseas market expansion efforts. 

● Eligibility

To qualify for the Enterprise Development Grant, businesses must meet certain eligibility criteria. They should be registered and operating in Singapore, with a minimum of 30% local shareholding. Additionally, businesses should demonstrate financial viability and a commitment to improving productivity and innovation. 

● Who is it for

The Enterprise Development Grant is suitable for a wide range of businesses across various industries, including manufacturing, services, and technology.

Whether you're a small family-owned business or a medium-sized enterprise with ambitious growth plans, the EDG provides valuable financial support and resources to enhance competitiveness and drive sustainable growth. 

● How to apply

The application process for the Enterprise Development Grant involves several steps. Interested businesses can begin by assessing their eligibility and identifying suitable projects that align with the grant's objectives.

Next, applicants should prepare a detailed project proposal outlining the objectives, scope, expected outcomes, and budget of the proposed project. The application can be submitted online through the Business Grants Portal (BGP), along with supporting documents such as financial statements, project plans, and vendor quotations.

Upon submission, the application will be reviewed by Enterprise Singapore, and successful applicants will be notified of their grant approval. Once approved, businesses can proceed with implementing the project and claim reimbursement for eligible project costs incurred. 

● Introduction

The Productivity Solutions Grant (PSG) is an initiative by the Singaporean government aimed at helping businesses adopt productivity-enhancing solutions and technologies. 

● Grant amount

The PSG provides funding support of up to 80% of qualifying project costs. This includes expenses related to the purchase of pre-approved productivity solutions and equipment. 

● Eligibility

To qualify for the Productivity Solutions Grant, businesses must be registered and operating in Singapore, with at least 30% local shareholding. They should also demonstrate a genuine need and commitment to enhancing productivity and adopting technology solutions to improve business operations. 

● Who is it for

The PSG is suitable for businesses across various sectors and industries, including retail, food and beverage, manufacturing, and professional services.

Whether you're a small retailer looking to implement a point-of-sale system or a manufacturing company seeking to automate production processes, the PSG provides valuable financial support to implement productivity-enhancing solutions. 

● How to apply

Applying for the Productivity Solutions Grant is a straightforward process. Businesses can begin by identifying the PSG-supported solutions that best address their productivity needs. Next, they should contact pre-approved vendors or solution providers to obtain quotations and details of the proposed project.

The application can be submitted online through the Business Grants Portal (BGP), along with supporting documents such as quotations, business registration details, and financial statements.

Once the application is submitted, it will be reviewed by the relevant government agency, and successful applicants will be notified of their grant approval. Upon approval, businesses can proceed with implementing the project and claim reimbursement for eligible project costs incurred.

● Introduction

The Operation & Technology Roadmap (OTR) grant is a funding initiative in Singapore aimed at helping businesses develop comprehensive strategies to enhance operational efficiency and leverage technology for growth and innovation. 

● Grant amount

The OTR grant provides funding support of up to 30,000 SGD for eligible businesses to engage consultants in developing customized operation and technology roadmaps. 

● Eligibility

To qualify for the Operation & Technology Roadmap grant, businesses must be registered and operating in Singapore, with at least 30% local shareholding. They should demonstrate a genuine need and commitment to improving operational efficiency and leveraging technology solutions for business growth. 

● Who is it for

The OTR grant is suitable for businesses across various industries seeking to optimize their operations and capitalize on technology advancements. Whether you're a small retail store streamlining inventory management processes or a manufacturing company implementing automation solutions, the OTR grant provides valuable financial support to develop tailored roadmaps for operational and technological enhancements. 

● How to apply

Applying for the Operation & Technology Roadmap grant involves several steps. Businesses can begin by identifying their specific operational challenges and technology needs.

Next, they should engage accredited consultants or consultancy firms to develop a customized roadmap that addresses these challenges and aligns with their business objectives.

The application can be submitted online through the Business Grants Portal (BGP), along with supporting documents such as quotations from consultants, business registration details, and project proposals.

Once the application is submitted, it will be reviewed by the relevant government agency, and successful applicants will be notified of their grant approval. Upon approval, businesses can proceed with engaging consultants to develop their operation and technology roadmaps, with funding provided upon completion of the project.

● Introduction

Start Digital is an initiative by the Singapore government aimed at helping newly incorporated businesses adopt digital solutions to enhance their operations and productivity from the outset. 

● Grant amount

The Start Digital initiative provides eligible businesses with a suite of digital solutions worth up to 2,000 SGD in value. These solutions cover essential areas such as accounting, digital transactions, human resources, and digital marketing. 

● Eligibility

To qualify for the Start Digital initiative, businesses must be newly incorporated in Singapore within the last 6 months. They should also meet the eligibility criteria specified by the participating banks or industry associations offering the digital solutions. 

● Who is it for

Start Digital is designed for newly incorporated businesses across various sectors, including retail, food and beverage, professional services, and more.

Whether you're a solo entrepreneur launching a freelance consultancy or a team of founders starting a tech startup, Start Digital provides valuable support to kickstart your digital journey and lay a strong foundation for growth. 

● How to apply

Applying for the Start Digital initiative is a simple process. Eligible businesses can visit the Start Digital website to explore the digital solutions available and choose those that best meet their needs.

Next, they should contact the participating banks or industry associations offering the selected digital solutions to sign up for the Start Digital package.

Upon verification of eligibility and completion of the sign-up process, businesses will gain access to the selected digital solutions, enabling them to enhance their operations and productivity from the outset.

● Introduction

Grow Digital is an initiative by the Singapore government aimed at supporting local businesses in their digital transformation journey, providing financial assistance and resources to enhance digital capabilities and competitiveness. 

● Grant amount

The Grow Digital initiative offers funding support of up to 30,000 SGD for eligible businesses to implement digital solutions and initiatives aimed at driving growth and innovation. 

● Eligibility

To qualify for the Grow Digital initiative, businesses must be registered and operating in Singapore, with at least 30% local shareholding. They should demonstrate a genuine need and commitment to embracing digital transformation and improving business processes through technology adoption. 

● Who is it for

Grow Digital is targeted at businesses across various industries and sectors seeking to leverage digital solutions to drive growth, improve efficiency, and enhance competitiveness.

Whether you're a small retailer looking to establish an online presence or a manufacturing company implementing automation solutions, Grow Digital provides valuable financial support and resources to support your digital transformation journey. 

● How to apply

Applying for the Grow Digital initiative involves several steps. Eligible businesses can begin by assessing their digital transformation needs and identifying suitable digital solutions or initiatives to implement.

Next, they should prepare a detailed project proposal outlining the objectives, scope, expected outcomes, and budget of the proposed digital transformation project. The application can be submitted online through the Business Grants Portal (BGP), along with supporting documents such as project plans, vendor quotations, and business registration details.

Once the application is submitted, it will be reviewed by the relevant government agency, and successful applicants will be notified of their grant approval. Upon approval, businesses can proceed with implementing the digital transformation project, with funding provided upon completion of the project milestones.

● Introduction

The Energy Efficiency Fund (E2F) is a financial assistance program in Singapore aimed at supporting businesses in implementing energy-efficient solutions and initiatives to reduce energy consumption and promote sustainability. 

● Grant amount

The Energy Efficiency Fund (E2F) provides funding support for eligible businesses to undertake energy efficiency projects. The grant amount varies depending on the nature and scope of the project, with subsidies covering a portion of the project costs. 

● Eligibility

To qualify for the Energy Efficiency Fund (E2F), businesses must be registered and operating in Singapore, with a focus on improving energy efficiency and reducing carbon emissions. They should demonstrate a commitment to implementing energy-saving measures and have a clear plan for achieving measurable energy efficiency improvements. 

● Who is it for

The Energy Efficiency Fund (E2F) is suitable for businesses across various industries and sectors, including manufacturing, commercial, hospitality, and healthcare.

Whether you're a small office looking to upgrade lighting systems or a large industrial facility implementing energy management solutions, E2F provides valuable financial support to implement energy efficiency projects and promote sustainable practices. 

● How to apply

Applying for the Energy Efficiency Fund (E2F) involves several steps. Businesses can begin by assessing their energy usage and identifying opportunities for energy savings and efficiency improvements.

Next, they should develop a detailed project proposal outlining the scope, objectives, expected outcomes, and budget of the proposed energy efficiency project. The application can be submitted online through the Energy Efficiency Fund (E2F) portal or the designated government agency administering the fund.

Along with the application, businesses should provide supporting documents such as energy audit reports, quotations from vendors, and business registration details. Once the application is submitted, it will be reviewed by the relevant authorities, and successful applicants will be notified of their grant approval.

Upon approval, businesses can proceed with implementing the energy efficiency project, with funding provided to cover a portion of the project costs. 

● Introduction

The Financial Sector Technology and Innovation (FSTI) Scheme is a government initiative in Singapore aimed at fostering innovation and technological advancements within the financial services sector. 

● Grant amount

The FSTI Scheme offers funding support for innovative projects and initiatives in the financial sector. The grant amount varies depending on the nature and scope of the project, with subsidies covering a portion of the project costs.

● Eligibility

To qualify for the Financial Sector Technology and Innovation (FSTI) Scheme, applicants must be registered and operating in Singapore, with a focus on developing innovative solutions and technologies for the financial services industry.

They should demonstrate a commitment to driving technological innovation and improving the competitiveness of Singapore's financial sector. 

● Who is it for

The FSTI Scheme is targeted at a wide range of stakeholders within the financial services sector, including financial institutions, fintech startups, technology vendors, research institutions, and industry associations.

Whether you're a bank looking to adopt blockchain technology or a fintech startup developing a new payment solution, the FSTI Scheme provides valuable financial support to drive innovation and enhance competitiveness.

● How to apply

Applying for the Financial Sector Technology and Innovation (FSTI) Scheme involves several steps. Applicants can begin by identifying innovative projects or initiatives that align with the objectives of the scheme.

Next, they should develop a detailed project proposal outlining the scope, objectives, expected outcomes, and budget of the proposed project. The application can be submitted online through the designated government portal or the relevant government agency administering the scheme.

Along with the application, applicants should provide supporting documents such as project plans, financial projections, and business registration details. Once the application is submitted, it will be reviewed by the relevant authorities, and successful applicants will be notified of their grant approval.

Upon approval, applicants can proceed with implementing the innovative project, with funding provided to cover a portion of the project costs.

● Introduction

The Artificial Intelligence and Data Analytics (AIDA) Grant is a funding program initiated by the Singaporean government to support businesses in leveraging artificial intelligence (AI) and data analytics technologies to drive innovation and enhance competitiveness. 

● Grant amount

The AIDA Grant provides financial support to businesses for the adoption and implementation of AI and data analytics solutions. The grant amount varies depending on the nature and scope of the project, with subsidies covering a portion of the project costs. 

● Eligibility

To qualify for the Artificial Intelligence and Data Analytics (AIDA) Grant, businesses must be registered and operating in Singapore, with a focus on utilizing AI and data analytics technologies to improve business processes, enhance decision-making capabilities, and drive innovation.

They should demonstrate a commitment to embracing digital transformation and have a clear plan for implementing AI and data analytics solutions. 

● Who is it for

The AIDA Grant is suitable for businesses across various industries and sectors, including but not limited to finance, healthcare, manufacturing, retail, and logistics.

Whether you're a small startup exploring AI-powered customer insights or a large corporation implementing predictive maintenance solutions, the AIDA Grant provides valuable financial support to harness the power of AI and data analytics for business growth and innovation.

● How to apply

Applying for the Artificial Intelligence and Data Analytics (AIDA) Grant involves several steps. Businesses can begin by identifying AI and data analytics projects or initiatives that align with their business objectives and growth strategies.

Next, they should develop a detailed project proposal outlining the scope, objectives, expected outcomes, and budget of the proposed project. The application can be submitted online through the designated government portal or the relevant government agency administering the grant.

Along with the application, businesses should provide supporting documents such as project plans, financial projections, and business registration details. Once the application is submitted, it will be reviewed by the relevant authorities, and successful applicants will be notified of their grant approval.

Upon approval, businesses can proceed with implementing the AI and data analytics project, with funding provided to cover a portion of the project costs. 

Enterprise Singapore serves as a central agency driving the growth of Singaporean enterprises. It offers a range of grants and schemes aimed at enhancing the competitiveness and capabilities of businesses across different stages of development.

These include grants for innovation, productivity improvement, market expansion, and internationalization efforts.

The National Research Foundation (NRF) plays a crucial role in Singapore's research and innovation ecosystem. It administers grants to support research and development (R&D) activities across various domains, including science and technology, healthcare, and sustainability.

These grants aim to foster collaboration between academia, industry, and government agencies to drive innovation and economic growth.

The Infocomm Media Development Authority (IMDA) oversees Singapore's infocomm and media sectors, with a focus on driving digital transformation and innovation.

IMDA administers grants to support initiatives such as digitalization, technology adoption, and capability development within the infocomm and media industries. These grants aim to help businesses leverage digital technologies to enhance competitiveness and productivity.

SME grants often serve as lifelines for businesses looking to expand their operations. Whether it's venturing into new markets, scaling up production capacity, or establishing a presence overseas, grants provide crucial financial support to fuel growth initiatives.

This may include funding for market research, feasibility studies, infrastructure development, and even assistance with overseas market entry strategies. By facilitating expansion efforts, these grants enable SMEs to tap into new revenue streams and solidify their market position.

Innovation lies at the heart of SME competitiveness, and grants play a pivotal role in supporting R&D endeavors. Whether it's developing groundbreaking products, enhancing existing offerings, or pioneering cutting-edge technologies, grants provide the necessary financial backing to fuel innovation.

SMEs can use these funds to cover costs associated with research personnel, equipment acquisition, prototyping, and testing. By fostering a culture of innovation, R&D grants empower SMEs to stay ahead of the curve and meet evolving customer needs with groundbreaking solutions.

Effective marketing and promotion are essential for SMEs to carve out their niche in competitive markets. SME grants provide much-needed financial assistance to support various marketing initiatives aimed at boosting brand visibility and driving customer engagement.

This may include funding for branding exercises, advertising campaigns, digital marketing, and market research activities. By leveraging these grants, SMEs can effectively communicate their value proposition to target audiences, establish brand recognition, and gain a competitive edge in the marketplace.

Investing in human capital is critical for SMEs looking to enhance productivity and adaptability. SME grants allocate funds to support training and skill development initiatives aimed at upskilling employees and fostering a culture of continuous learning.

This may involve subsidizing training programs, workshops, seminars, and certifications related to specific job roles or industry requirements. By investing in employee development, SMEs can enhance workforce capabilities, improve operational efficiency, and drive long-term growth.

In today's digital age, technology adoption is no longer optional but imperative for SMEs looking to stay relevant and competitive. SME grants provide financial support to facilitate the adoption of technology solutions aimed at driving operational efficiency, enhancing productivity, and fueling innovation.

This may include funding for the acquisition of hardware and software systems, implementation of enterprise resource planning (ERP) solutions, deployment of cloud computing infrastructure, and adoption of emerging technologies such as artificial intelligence (AI) and Internet of Things (IoT).

By embracing technology, SMEs can streamline processes, reduce costs, and unlock new opportunities for growth and expansion.

Expanding into international markets presents lucrative opportunities for SMEs but also comes with its own set of challenges and risks. SME grants offer financial assistance to support export and internationalization initiatives, enabling businesses to explore new markets, establish distribution channels, and forge partnerships abroad.

This may involve funding for market entry strategies, participation in trade missions and exhibitions, compliance with international regulations, and localization efforts. By leveraging these grants, SMEs can mitigate the barriers to entry into foreign markets and unlock the potential for global expansion and diversification.

As sustainability concerns take center stage globally, SMEs are increasingly pressured to adopt eco-friendly practices and reduce their environmental footprint. SME grants provide financial support to facilitate sustainability and green initiatives aimed at promoting environmental stewardship and corporate responsibility.

This may include funding for energy efficiency upgrades, waste reduction measures, adoption of renewable energy sources, and implementation of eco-friendly manufacturing processes.

By embracing sustainability, SMEs can not only reduce operational costs and mitigate risks but also enhance their brand reputation and appeal to environmentally-conscious consumers.

Meeting stringent quality standards and certifications is essential for SMEs looking to gain credibility, build customer trust, and access new markets. SME grants offer financial assistance to support initiatives aimed at obtaining and maintaining quality certifications and standards compliance.

This may involve funding for consultancy services, training programs, equipment upgrades, and certification fees. By achieving quality certifications, SMEs can demonstrate their commitment to excellence, differentiate themselves from competitors, and access new business opportunities both locally and internationally.

The digital revolution has transformed the business landscape, presenting both opportunities and challenges for SMEs. SME grants allocate funds to support digital transformation initiatives aimed at harnessing the power of technology to drive business growth and innovation.

This may include funding for digitalization projects, adoption of e-commerce platforms, development of mobile applications, and cybersecurity enhancements. By embracing digital transformation, SMEs can enhance operational efficiency, improve customer experiences, and unlock new revenue streams in the digital economy.

Sufficient working capital is essential for SMEs to sustain day-to-day operations, seize growth opportunities, and navigate unforeseen challenges. SME grants provide financial support to address working capital needs, ensuring businesses have the liquidity required to meet short-term obligations and pursue strategic initiatives.

This may involve funding for logistics management, accounts receivable financing, cash flow optimization, and debt restructuring. By accessing working capital grants, SMEs can alleviate financial constraints, maintain financial stability, and pursue growth aspirations with confidence.

Angel investors are affluent individuals who provide capital to startups or early-stage businesses in exchange for ownership equity or convertible debt. They offer not only financial support but also mentorship, expertise, and valuable networks to help businesses grow.

P2P lending platforms connect borrowers directly with investors, bypassing traditional financial institutions. SMEs can obtain loans through these platforms by pitching their business ideas and financial profiles to a pool of individual lenders, often with faster approval processes and competitive interest rates.

Venture capital firms invest in high-growth potential startups and early-stage companies in exchange for equity stakes. They provide substantial capital injections, strategic guidance, and access to networks to fuel rapid growth and scalability, making them suitable for businesses with ambitious expansion plans.

Traditional bank loans remain a popular financing option for SMEs, offering relatively low interest rates and flexible repayment terms.

Businesses can secure loans for various purposes, including working capital, equipment purchase, expansion, and asset acquisition, leveraging their creditworthiness and collateral to obtain financing.

Crowdfunding platforms enable businesses to raise capital from a large number of individuals or organizations by soliciting contributions or investments online.

SMEs can launch crowdfunding campaigns to finance specific projects, product development, or business expansion, leveraging social networks and online communities to reach potential backers.

Embarking on the journey of obtaining an SME grant begins with thorough research and careful selection. With numerous grant options available, it's crucial to evaluate each one meticulously.

Consider factors such as the grant's focus area, eligibility criteria, funding amount, and application process. Choose grants that closely align with your business objectives, industry sector, and stage of development.

By selecting the most relevant grants, you can maximize your chances of securing funding that best suits your business needs.

Crafting a compelling grant proposal is essential to capture the attention of evaluators and showcase the value proposition of your business. Your proposal should provide a clear and comprehensive overview of your business, detailing its objectives, strategies, and anticipated outcomes.

Clearly articulate the specific activities or projects for which you're seeking funding and outline how these initiatives align with the goals of the grant program. Emphasize the potential impact of your proposed activities, highlighting the benefits not only to your business but also to the broader community or industry.

Before submitting your grant application, ensure that your business meets all eligibility requirements outlined by the grant provider. These requirements may vary depending on factors such as company size, industry focus, geographical location, and project scope.

Thoroughly review the eligibility criteria specified in the grant guidelines and assess your business against these criteria to confirm your eligibility. Address any gaps or discrepancies proactively to avoid potential disqualification and maximize your chances of approval.

Adherence to the application guidelines is critical to a successful grant application. Carefully review the instructions provided by the grant provider and follow them meticulously when preparing your application.

Pay close attention to details such as submission deadlines, document requirements, formatting guidelines, and any specific instructions for completing the application form. Failure to comply with these guidelines may result in your application being rejected or disadvantaged during the evaluation process.

By meticulously following the application guidelines, you demonstrate professionalism and attention to detail, which can positively influence the perception of your application.

Navigating the intricacies of the grant application process can be daunting, especially for businesses unfamiliar with the nuances of grant funding.

Consider seeking professional guidance from experts such as grant consultants, business advisors, or industry mentors who possess specialized knowledge and experience in securing grant funding.

These professionals can offer valuable insights, guidance, and support throughout the application process, helping you to optimize your grant application strategy and increase your chances of success.

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