Enterprise Development Grant – EDG

The Enterprise Development Grant – EDG helps Singapore companies to scale up and transform. Under the purview of Enterprise Singapore, the grant supports projects that help the company to enhance the internal process, innovate and enter into new overseas markets. To stay competitive in the industry, companies have to build strong business foundations, adopt technology, be innovative, and create a presence on the global platform.

The Enterprise Development Grant consists of 3 pillars:

  1. Core Capabilities:

Projects under this category should strengthen business foundations to prepare for growth. It must go beyond basic functions such as sales and accounting. Such as; business strategy development, financial management, human capital development, service excellence, strategic brand and marketing development.

 

  1. Innovation and Productivity:

Companies can tap on this to explore new ideas and commercialise it or enhance the existing process to improve efficiency. This includes product developments, automation, and process redesign.

 

  1. Market Access:

These support companies who are willing and ready to venture overseas. The grant subsidises the cost of the overseas expenses, such as marketing and business development, mergers and acquisitions, and even pilot projects to build up a track record.

 

What does the grant support?

Up to 80%* of the project qualifying cost will be subsidized, such as third party consultancy fees, software/systems and equipment, and internal manpower cost. For companies that are most badly affected by the Covid-19, can get support up to 90% on a case by case basis.

 

What are the requirements for this grant?

To qualify, companies need to be:

  • Registered company in Singapore
  • Operating in Singapore
  • Have a minimum of 30% local shareholding
  • Have the financial ability to start and complete the project

 

The application will be assessed by Enterprise Singapore based on the scope of the project, end result of the project and competency of the service provider. Companies can apply for any of these 3 pillars or as a combination.

 

How can I apply for the EDG?

  • Check if your company is qualified for the EDG.
  • Identify the key project category you wish to apply for.
  • Submit the project proposal
  • Identify suitable service providers to support the project. Any consultancy-related projects must engage management consultants with Enterprise Singapore-recognised certification.
  • The application has to be submitted before the commencement of the project.
  • Prepare the following documents:
  • Latest Company business profile (within 6 months from the date of the project)
  • Latest financial statements
  • Proof of quotation for the cost of the project
  • Consultancy related project mush includes a consultant proposal detailing the scope of work, CV, and scanned copies of Enterprise Singapore-recognised certification of each individual consultant.

Companies will have to provide projected figures in the following areas arising from the implementation of the project:

  • Company annual turnover
  • Staff costs
  • Depreciation
  • Net operating profit before tax for three years’ post-project (inclusive of the year of project completion)
  • Impact on workers (Singaporean/ PR) benefitting from the project in the form of increased wages, job creation, job-redesign or training

 

The complete process will usually take eight to twelve weeks from the time of the project application to the submission of the claim. Enterprise Singapore may contact the companies for further clarification.

 

Once the application is approved, Company will receive a Letter of Offer (LOF) indicating the conditions of support and the amount of grant awarded. It requires the company to also acknowledge receipt and accept the LOF within the timeline indicated, otherwise the application would be considered invalid.

Do contact us for more information on the EDG application. And also check out other grants that are available for business.

 

* As announced at Supplementary Budget 2020, the maximum support level will be raised to 80% from 1 April 2020 to 31 December 2020.