| SPRING Singapore Innovation & Capability Voucher (ICV) scheme
With effect from 1 November 2015, SMEs will need to engage pre-qualified Integrated Solution Providers (ISPs) when applying for ICV support for Integrated Solution. We are pleased to announced that 01 BUSINESS SOLUTIONS PTE LTD is a Pre-Qualified Integrated Solution Provider (ISP) for
Call us at (65) 6220 3306 to find out how we can help your organization. |
Innovation & Capability Voucher (ICV)
Grant to improve business efficiency and productivity through consultancy projects or simple productivity solutions. The Innovation & Capability Voucher (ICV) is a simple to apply, easy-to-use voucher valued at $5,000, to encourage SMEs to take their first step towards capability development. SMEs can use the voucher to upgrade and strengthen their core business operations through the adoption and implementation of simple solutions to improve business efficiency and productivity. Each SME is entitled to a maximum of eight vouchers. Each ICV project must be completed before the submission of a new application. The duration for each project should not exceed six months.
Who is it for?
All small and medium enterprises (SMEs) that are registered or incorporated in Singapore with:
- at least 30% local shareholding;
- group annual sales not more than S$100M; or
- group employment size not exceeding 200 employees*
* Computed on a group basis, i.e. checking all levels up for corporate shareholders holding more than 50% of the total shareholding in your company and any subsequent corporate parent, and all levels down in subsidiary companies.
What is it for?
To encourage SMEs to take the first step towards capability development.
To strengthen businesses’ core operations through 3rd party consultancy projects in these areas:
- innovation
- productivity
- human resources (HR)
- financial management
To assist SMEs in implementing simple productivity solutions in the following areas:
- equipment & hardware
- technical solutions & training
- design & renovation productivity
How much?
You can apply for up to 8 vouchers worth S$5,000 each to pay for Consultancy Projects or Productivity Solutions.
For implementation of simple productivity solutions, each SME can apply up to a maximum of two vouchers to implement solutions out of the available eight vouchers for each SME. For this, SMEs may apply directly with SPRING to support the productivity solutions, on a reimbursement basis. The reimbursement will be made directly to the SME. All purchases must be made only after the indicated solutions/ items have been approved in the application.
The supportable cost categories include :
- Equipment & hardware
- Technical solutions & training
- Design & renovation
For more info