There are noticeable enhancements of the various grant initiatives pursuant to recent updates, both in relation to levels of funding and funding caps.
Government grants are available to support Singapore companies in relation to protecting and developing their technology. Enterprise Singapore, which is the amalgamation of various Singapore government agencies that previously focused on different aspects of entrepreneurship and innovation, now administers all of these grants. We provide an updated summary below of the available grants.
For companies seeking to file IP Applications outside of Singapore
Market Readiness Assistance Grant
- To aid Singapore-based companies to defray a portion of costs (eg. IP costs for application, search and examination) when expanding business interests outside of Singapore.
- Funding of up to 80% of costs for eligible activities until 31 March 2022, and subsequently, up to 70% of costs for eligible activities until 31 March 2023, including filing of foreign IP applications.
- IP related expenses can be categorized as “overseas market set-up costs”, which has a funding cap of S$30,000.
- All expenses need to be pre-approved as a condition for reimbursement. Retrospective grant applications subsequent to expenses being incurred is not allowable.
- For companies incorporated in Singapore with minimum 30% local shareholding.
- Annual turnover of < S$100 million per annum or less than 200 employees.
- There are no pre-approved vendors for this grant.
- Full details are available at this link.
For companies seeking to develop and grow an IP Strategy/Roadmap
Enterprise Development Grant
- To aid Singapore-based companies to upgrade, innovate and venture overseas.
- Subject to certain conditions, the grant is usable for innovation-related consultancy projects.
- Funding of up to 80% of costs for third party consultancy fees.
- All expenses need to be pre-approved as a condition for reimbursement. Retrospective grant applications subsequent to expenses being incurred is not allowable.
- For companies incorporated in Singapore with minimum 30% local shareholding.
- There are no pre-approved vendors for this grant.
- Full details are available at this link.
For companies seeking to grow their IP Portfolio while developing their proprietary technology
Startup SG Founder/Tech Grant
- To aid cash flow of startups when developing proprietary technology solutions, and to provide early-stage funding for the commercialisation of proprietary technology.
- Mentoring for the startups will be provided by “Accredited Mentor Partners”.
- Involves giving up some equity in exchange for the grant.
- Startup capital of S$50,000 will be provided, with a commitment of S$10,000 required by the startup.
- Caps of S$250,000 at proof-of-concept stage and S$500,000 for proof-of-value stage.
- Subject to certain conditions, the grant is usable for IP costs for proprietary technology solutions.
- All expenses need to be pre-approved as a condition for reimbursement. Retrospective grant applications subsequent to expenses being incurred is not allowable.
- For startups (< 5 years) incorporated in Singapore with minimum 30% local shareholding.
- Annual turnover of < S$100 million per annum or less than 200 employees.
- Core activities should be carried out in Singapore.
- Full details are available at this link.
Note: All information is obtained from publicly available sources.
