Enterprise Development Grant
The Enterprise Development Grant (EDG) helps Singapore companies grow and transform.
You can achieve your goals by building strong business foundations and strategies, adopting technology and innovative processes, and growing your overseas presence.
This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars:
1) Core Capabilities
Projects under Core Capabilities help businesses prepare for growth and transformation by strengthening their business foundations.
Five supported areas include:
Human Capital Development
To strengthen your company’s Human Resource (HR) capabilities, so as to support business growth strategies.
To improve your company’s service delivery by gaining a deeper understanding of customers’ needs and decision-making processes.
Business Strategy Development
To spur the growth of your company through interventions in business strategies.
Strategic Brand and Marketing Development
To help your company better capture target audiences and markets by differentiating your brand, and your products and services.
To optimise your company’s financial performance in order to support corporate strategy and growth and/or equip your management team with the right competencies so they can be good stewards of your company’s assets and resources.
2) Innovation and Productivity
Projects under Innovation and Productivity support companies that explore new areas of growth, or look for ways to enhance efficiency.
Three supported areas include:
To support your company’s usage of automation and technology which can result in tangible benefits and significant growth.
To help your company review existing processes and identify possible areas to improve efficiency. This is a critical first step before introducing automation or technology.
To help your company develop innovative technology and products with the end goal of commercialisation.
3) Market Access
Projects under Market Access support Singapore companies that are willing and ready to venture overseas.
Four supported areas include:
Mergers and Acquisitions (M&A)
To help your company grow through M&A. This may be in the planning, assessment of potential mergers and/or acquisition or post-M&A stage integration.
To help your company adopt internationally-recognised standards and certifications in key industries, as well as in new and emerging sectors. By doing so, your company should achieve outcomes, such as increased business competitiveness locally and internationally, enhanced market access, and/ or increased trust in your products and services.
Overseas Marketing Presence (OMP)
To help your company expand into new markets by setting up an overseas presence to begin marketing and/ or business development activities.
Pilot Project and Test Bedding
To help your company expand into new geographical or product markets by building your track record.
What does the EDG support?
The grant funds qualifying project costs namely third-party consultancy fees, software and equipment, and internal manpower cost.
As announced at Supplementary Budget 2020, the maximum support level will be raised to 80% from 1 April 2020 to 31 December 2020.
For enterprises that are most severely impacted by COVID-19, the maximum support level may be raised to 90% on a case-by-case basis.
EDG Grant Eligibility
Q: Who can apply?
To qualify for the EDG, you need to:
Applications will be assessed by Enterprise Singapore based on project scope, project outcomes and competency of service provider.
Contact us to find out how to apply for EDG grant. We will go through the application checklist with you to check if you can fulfil the criteria.
Note: From 1 April 2020, all EDG applications should include commitments to worker outcomes as part of the qualifying requirements. Worker outcomes include increase in wage increment, job creation, job re-design, or training for existing staff.
Frequently Asked Questions (FAQs)
Q: Does Ascendo Academy have certified consultants?
Yes, we have experienced certified management consultants to assist you in writing of the EDG grant proposal, application and making claims.
Q: How is EDG different from the Productivity Solutions Grant and the Market Readiness Assistance grant?
The Productivity Solutions Grant (PSG) and the Market Readiness Assistance (MRA) grant are separate schemes with different intents. The PSG supports companies looking to adopt specific productivity solutions or equipment, while the MRA supports companies who wish to take their first step into overseas markets. Since the areas of support have been pre-specified, the purpose of the PSG and MRA is largely to facilitate ease of adoption.
The Enterprise Development Grant (EDG) is a tool to support the growth and transformation needs of companies. Companies would need to submit individual project proposals with details on their business plans and project outcomes for evaluation.
Q: How much grant support can I receive? Is there a cap on funding?
The Enterprise Development Grant (EDG) funds up to 70% of qualifying costs for SMEs, and up to 50% of qualifying costs for non-SMEs. Refer to the specific project categories for any other eligibility conditions.
Q: Can projects with both domestic and overseas items and/or activities be supported under EDG?
The Enterprise Development Grant (EDG) supports projects that are executed domestically, as well as those that help companies to venture overseas.
Q: Why are the supportable cost components under EDG limited to third party consultancy, software and equipment, and internal incremental manpower costs?
In capability building and internationalisation projects, significant costs are usually incurred by companies related to third party consultancy, software and equipment, and internal incremental manpower. Other supportable cost components or areas of support may be available in the various project areas.
Q: When must an EDG funded project be completed?
Most projects undertaken by companies should be completed within 12 to 18 months upon successful grant application. However, projects under the Overseas Marketing Presence (OMP) category must be completed within 12 months.
You are advised to keep the project timeline to a reasonable duration, to ensure the outcomes remain relevant in a rapidly changing economic environment.
Q; How to apply?
If you want to know what else you could use PSG grant for, we can assist you with the PSG grant application.
Feel free to contact Ascendo Academy at email@example.com.
Don’t miss this chance to get the extra 10% support subsidy!
Contact us to find out how to claim EDG Grant for your business.