June 6, 2018

Innovation and Capability Voucher Expanded to benefit more SMEs


Starting from 1st March 2014, SMEs (Small and Medium Enterprises) will benefit from the enhanced scheme with an addition $10 million boost. Besides the usual claims of consultancy services to support implementation of solutions, businesses are also able to use the voucher to claim areas in innovation, productivity, human resources development and financial management. This is to help businesses who are facing resources issues to take the first step towards capability upgrading. This enhanced ICV will also cover the implementation of the recommendations that is geared towards business consultations as well as direct procurement of solutions that helps businesses to better manage costs, raising productivity and efficiency and most importantly is to strengthen their business operations to achieve sustainable growth in their industry.

Under the new ICV scheme, businesses are able to claim a maximum of 2 vouchers each valued at SGD 5,000.00 that caters to a more broad selection of areas which include newly added categories like:

  1. Equipment and Hardware
  2. Technical Solutions
  3. Professional Services
  4. Design and Renovation

With this enhanced scheme, businesses are able to claim additional categories which were not present in the previous scheme.

*Disclaimer: Information is accurate as taken from SPRING Singapore website on 06 March 2014.