Enterprise Development Grant

The Enterprise Development Grant (EDG) in Singapore is a government funding initiative designed to support Singapore-based companies in their growth and transformation efforts. Below is a comprehensive detailed description of the program:

Objectives:

• To help companies grow and transform their business capabilities.
• To support projects that enhance business processes, upgrade technology, and expand overseas.
• To enable companies to build stronger foundations for sustainable growth.

Target Beneficiaries:

• Singapore-registered companies.
• Companies seeking to upgrade their business capabilities.
• Businesses aiming to expand internationally.
• Enterprises looking to innovate and improve operational efficiency.

Key Features:

• Funding support covers up to 80% of qualifying project costs for SMEs (Small and Medium Enterprises), and up to 50% for non-SMEs.
• Eligible project costs include consultancy, software, equipment, and internal manpower.
• The grant supports projects in three key areas: Core Capabilities, Innovation and Productivity, and Market Access.
• Core Capabilities projects focus on business process improvements, financial management, and human capital development.
• Innovation and Productivity projects involve adopting technology and automation.
• Market Access projects assist companies in expanding overseas through market research, participation in trade fairs, and business matching.
• The grant is administered by Enterprise Singapore.

Application Process:

• Companies must submit an application through the Business Grants Portal.
• Applicants need to provide a project proposal detailing objectives, scope, and expected outcomes.
• Supporting documents such as financial statements and quotations may be required.
• Applications are evaluated based on project feasibility, impact, and alignment with grant objectives.
• Upon approval, companies receive funding disbursements based on project milestones.

The EDG is a strategic tool for Singapore companies to enhance competitiveness, innovate, and expand globally, with substantial government support to offset costs and risks associated with business transformation. For detailed eligibility criteria and application guidelines, companies should refer to the official Enterprise Singapore website.