15 Aug How to Apply for CDG Grant?
SPRING CDG grant can defray up to 70% of the qualifying project costs to upgrade the capabilities of the organization, relating to:
- Upgrading productivity
- Developing business capabilities for product development, process improvement and market access
Each SME can apply for a maximum of up to 8 vouchers.
SMEs that meet the following criteria are eligible for CDG grant:
- Registered and operating in Singapore
- Minimum 30% Singaporean shareholding
- Group annual turnover under S$100 million OR group employment size of below 200 employees
SPRING assesses the application based on your business requirements, the scope of the project, company’s vision, and competency. All applications are subject to the approval of the SPRING. SPRING’s enhanced funding support of up to 70% capped at S$30000 would be effective for 3 years until 31 March 2018.
Here is how to apply for CDG grant:
Step 1: Pre-application
- Check that you meet the eligibility criteria to apply for the CDG and recognize the supportable area relevant to your project.
- Discuss your project with an SME Centre business advisor.
- Ensure that your project has not started yet. You can start your project on or after the Project Commencement Date mentioned in your CDG application.
- Following are some pre-application documents you need to prepare for CDG grant:
- Latest ACRA Search or Instant Information of your company and shareholders. It should be ≤6 months old.
- Latest Audited Financial Statements of your Company and Consolidated Financial Statement of your ultimate parent company. The statements should be ≤1 year old.
- Detailed Project Proposal. Read this guide to understand how to write up your project proposal. Note: Project proposal is not needed for grant support of ≤ $30,000.
- Relevant Proof of Quotation for your project cost items.
- Provide the consultants’ proposal if they are involved in the project.
- Following is some other information you need to prepare based on the last financial year:
- Quantitative Impact Indicators, which include Total Sales Revenue, Remuneration and more
- Job Creation Indicators, which include Total Staff Strength and No. of Managers & Professionals.
Step 2: Application
- Read the SPRING Grant Portal Access Rights Guideto understand the application process of CDG grant in detail.
- After you have all prepared all your documents, submit your online application by logging on to the SPRING Grant Portal. Here is a detailed guide by SPRING Singapore on how to submit the application.
Step 3: Approval process
- After receiving your application, a SPRING Officer will get in touch with you. A meeting may be arranged or you may also be required to revise and resubmit your application if the information is wrong or incomplete.
- SPRING will assess your application based on your business requirement and the scope of the project.
- If your application has been approved, you will receive your Letter of Offer via portal.
You can learn about the application process in detail here.