Top 10 Government Grants and Funding Programs for Businesses in Singapore

Top 10 Government Grants and Funding Programs for Businesses in Singapore

Starting and growing a business often requires significant financial resources. Fortunately, the Singaporean government offers various grants and funding programs to support businesses at different stages of development. Here are the top 10 government grants and funding programs available to businesses in Singapore:

1. Startup SG Founder

• Description: Provides mentorship and startup capital grants to first-time entrepreneurs.

• Funding Amount: Up to S$30,000.

• Eligibility: First-time entrepreneurs with innovative business ideas.

• Application Process: Submit a business plan to an Accredited Mentor Partner (AMP).

2. Enterprise Development Grant (EDG)

• Description: Supports projects that help businesses grow and transform.

• Funding Amount: Covers up to 70% of project costs.

• Eligibility: Registered and operating in Singapore, with at least 30% local shareholding.

• Application Process: Apply through the Business Grants Portal.

3. Productivity Solutions Grant (PSG)

• Description: Helps businesses adopt IT solutions and equipment to enhance productivity.

• Funding Amount: Covers up to 70% of costs.

• Eligibility: SME registered and operating in Singapore.

• Application Process: Apply through the Business Grants Portal.

4. Market Readiness Assistance (MRA) Grant

• Description: Supports SMEs in expanding overseas.

• Funding Amount: Up to 70% of eligible costs, capped at S$100,000 per new market.

• Eligibility: SME with at least 30% local shareholding.

• Application Process: Apply through the Business Grants Portal.

5. SkillsFuture Enterprise Credit (SFEC)

• Description: Encourages employers to invest in enterprise and workforce transformation.

• Funding Amount: S$10,000 credit.

• Eligibility: Employers who have contributed at least S$750 of Skills Development Levy.

• Application Process: Automatic eligibility check by the government.

6. Enhanced Training Support for SMEs (ETSS)

• Description: Provides higher course fee subsidies and absentee payroll funding.

• Funding Amount: Up to 90% of course fees.

• Eligibility: SME with at least 30% local shareholding.

• Application Process: Apply through the respective training provider.

7. Capability Development Grant (CDG)

• Description: Supports SMEs in developing capabilities across 10 key business areas.

• Funding Amount: Up to 70% of qualifying project costs.

• Eligibility: Registered and operating in Singapore, with at least 30% local shareholding.

• Application Process: Apply through the Business Grants Portal.

8. Energy Efficiency Fund (E2F)

• Description: Supports companies in improving energy efficiency.

• Funding Amount: Up to 50% of qualifying costs.

• Eligibility: Companies with significant energy consumption.

• Application Process: Apply through the National Environment Agency (NEA).

9. Startup SG Tech

• Description: Provides early-stage funding for the commercialisation of proprietary technology.

• Funding Amount: Up to S$500,000 for Proof-of-Concept (POC) and up to S$1 million for Proof-of-Value (POV).

• Eligibility: Singapore-based startups with proprietary technology.

• Application Process: Submit a proposal to Enterprise Singapore.

10. Trade Credit Insurance Scheme

• Description: Supports SMEs in obtaining trade credit insurance.

• Funding Amount: Up to 50% subsidy on insurance premium.

• Eligibility: SMEs engaging in international trade.

• Application Process: Apply through participating trade credit insurers.

Conclusion

The Singapore government offers a robust array of grants and funding programs to support businesses in their growth journey. By understanding and leveraging these opportunities, you can secure the necessary resources to drive innovation, productivity, and international expansion.