Grant Benefits
Eligible local SMEs can receive funding covering up to 50% of eligible costs, with support capped at $30,000. This grant aims to foster significant improvements in business productivity through the integration of technology.
Scope of Solutions
The PSG offers support for both sector-specific and generic IT solutions that have been pre-approved by Enterprise Singapore and other participating agencies. This ensures that the solutions are tailored to meet the diverse needs of different industries and are vetted for efficacy and relevance.
Temporary Enhanced Support
In response to the disruptions caused by the COVID-19 pandemic, the grant support levels were temporarily enhanced to facilitate economic transformation and aid businesses in recovering stronger. This enhanced support was a time-limited measure to address the immediate challenges faced by businesses during the pandemic.
Eligibility Criteria
Ownership: At least 30% local equity must be held directly or indirectly by Singaporean(s) and/or Singapore PR(s), based on ultimate individual ownership.
Financial Thresholds: The company should have a Group Annual Sales Turnover not exceeding S$100 million or a Group employment size not exceeding 200 employees.
Utilization: IT solutions or equipment purchased, leased, or subscribed must be used within Singapore.
Exclusions: Charities, Institutions of Public Characters (IPCs), religious entities, Voluntary Welfare Organizations (VWOs), government agencies and subsidiaries, and societies are not eligible for this grant.
Additional Subsidy Opportunities
Companies eligible for the Skills Future Enterprise Credit may qualify for additional subsidies under this scheme, enhancing their ability to invest in upgrading their operations.
For more detailed information on eligibility and application procedures, companies are encouraged to refer to the specific Annex provided or visit the official ICFO Singapore website.
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