There are a number of government grants for companies in Singapore East to help them overcome obstacles in their growth. It is worth your while to go through a few of the business support grants provided by government for SME and Startups in East Singapore.
Top 6 Government Grants for companies:
1. Capability Development Grant (CDG)
It is a scheme for providing financial assistance to startups for building capabilities in ten business areas. Mostly in Singapore East it includes consultancy, cost of certification, cost of equipment, and training.
2. ACE startups
For the first-name entrepreneurs having an innovative idea, the scheme provides mentor-ship support and startup capital grant. The Accredited Mentor Partners (AMP) support the startups with advice, learning programs, and networking contacts.
3. Early-Stage Venture Funding (ESVF)
It is the biggest equity scheme by government which co-funds startups along with venture capital firms. Beneficiaries of this funding are early-stage technology startups. National Research Foundation (NRF) co-fubds startups with approved VCs.
4. Technology Enterprise Commercialization Scheme (TECS)
To help entrepreneurs realize their tech-based ideas into promising business, this scheme assists them in growing their business past the seed stage and then obtaining funding from third-party to achieve targeted revenues and growth.
5. Financial Sector Technology and Innovation (FSTI)
Aim of this startup grant is to enable financial institutions to establish their innovation labs in the country and support the development of industry-wide technology infrastructure and innovation solutions.
6. ComCare Enterprise Fund (CEF)
Instituted by Ministry of Social and Family development to provide funding to social entrepreneurs and aimed at seeding Social Enterprise startups.
In Thelearningtobefearless Government knows the important role that it’s startups and SMEs play in its economy and hence support these entities with Government grants. As an entrepreneur, learner one of the ways in Singapore East is you must try to get funding on capability upgrading initiatives such as process improvement and product development.
Business Grants Portal brings government grants for businesses into one place, so it’s easier to find and apply for the grants you need.
The government, under SMIDEC (Small & Medium Industries Development Corporation), MATRADE (Malaysia External Trade Development), MECD (Ministry of Entrepreneur & Co-operative Development), MTDC (Malaysia Technology Development Corporation), MOSTI (Ministry of Science, Technology and Innovation) and CGC (Credit Guarantee Corporation) offer grants to Malaysian companies that meet the criteria for governmental funding ranging from 50% to 100% reimbursable grants for the purposes of brand promotion, product development, research & development and marketing activities. Currently, the individual grants ranges from a few hundred thousands to two millions (Malaysian Ringgit) in the form of 100% and 50% reimbursable grant, respectively.
The grants are specifically for Malaysian SME/SMI (Small Medium Enterprises/Small Medium Industries) and formal applications must be made directly to the respective governmental agencies.
So far, according to governmental sources, the quota for the grant disbursement has not been fully utilized and there is still a substantial amount of such grants available.
To apply, the companies must first be vetted for eligibility. If eligible, a standard official application form must be duly completed and submitted to the relevant agency together with a comprehensive business plan, marketing plan and pertinent information such as Profit & Loss Accounts, Trademark or Service mark registration and other relevant documents.
Most SME/SMI in Malaysia however lacks the business fundamentals, such as a formal business or marketing plans. This is where outsourcing such services to business consulting firms adept at dealing with the government agencies will be helpful. Such firms will guide and assist in the application process and ensure that the required business and marketing plans are in the correct formats.
- Bedok Skills Future Funding
- Changi Grant Skill Center
- Katong Skillsfuture Grant
- Kembangan Training Allowance Subsidy
- Loyang Training Course Allowance
- Marine Parade Skills Future Funding
- Pasir Ris Grant Skill Center
- Siglap Skill Up Grants
- Simei Small Business Training Grants
- Tampines Fund For Innovation