Enterprise Development Grants (EDG) help improve the performance of a business by providing financial assistance and support. This initiative provides grants to help start-up companies or existing businesses interested in developing their products or services, which are then delivered to the targeted consumer. Singaporeans and Permanent Residents can apply for an Enterprise Development Grant of up to S$100,000. To be eligible, businesses must be registered and operating in Singapore, with at least 30% local shareholding.
What is an Enterprise Development Grant?
The EDGE is an initiative that supports and drives innovative projects within corporate organisations that might otherwise be ignored by venture capital investors. The grant was established to encourage and finance product development, innovation, and creativity within businesses. It offers two types of funding, equity-based and non-equity based, to support businesses of all sizes.
Applications for Enterprise Development Grant in Singapore are reviewed by a panel of experts from various industries. The Enterprise Development Grant Committee comprises representatives from academia, industry, and the public sector. The EDGE provides funding support for up to 70% of project costs for small and medium enterprises (SMEs), and up to 60% for large companies.
Why is Enterprise Development Grant important?
The Enterprise Development Grant is an important initiative as it helps to encourage businesses to be innovative and develop their products and services. This is in line with the Singapore government’s drive to promote an innovative and entrepreneurial economy. The grant also helps businesses to overcome the high costs associated with product development and commercialization.
What are the benefits of the Enterprise Development Grant?
The EDGE offers several benefits for businesses, including:
– Financial assistance to help cover the costs associated with product development and commercialization of new products or services.
– Support from a panel of experts from various industries, including representatives from academia, industry, and the public sector.
– The opportunity to develop new products or services that can be delivered to the targeted consumer.
– The potential to improve the performance of your business and create jobs.
– The opportunity to improve the performance of your business and increase its competitiveness.
– Access to a team of industry experts who can provide advice and mentorship
– Participation in an exclusive Enterprise Development Grant Community
What are the requirements for an Enterprise Development Grant?
To be eligible for an Enterprise Development Grant, businesses must:
– Be a Singapore-registered company
– Have at least 30% local shareholding
– Be operating in Singapore
– Have a project that can create jobs
– The project must be able to improve the performance of the business
– The project must be innovative and have a high potential for commercialization
– The project must be able to create social or economic value for Singapore
– The company must not have received any other government grant for the same project
How to apply for an Enterprise Development Grant?
Businesses interested in applying for the Enterprise Development Grant can find more information on the Singapore government website. The EDGE is an important initiative that helps businesses to develop their products and services and improve their performance. If you are interested in applying for the grant, you can gather more information from the Singapore government website.
