Innovation & Capability Voucher
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 consultancy in the areas of innovation, productivity, human resources and financial management. Apart from consultancy, ICV also supports SMEs in the adoption and implementation of simple solutions to improve business efficiency and productivity.
SMEs can use the ICV to implement productivity solutions under the supportable cost categories of
(i) equipment & hardware,
(ii) technical solutions & training,
(iii) design & renovation.
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.
Productivity Solutions
To encourage more SMEs to embark on their first steps towards capability development, ICV supports SMEs in the adoption and implementation of simple solutions to improve business efficiency and productivity. Each SME can apply up to a maximum of two vouchers to implement productivity solutions out of the available eight vouchers for each SME.
ICV supports the implementation of recommendations from previous consultancy projects as well as simple productivity solutions under the supportable cost categories of (i) equipment & hardware, (ii) technical solutions & training, (iii) design & renovation.
Eligibility
All local SMEs can apply for ICV if they meet the following criteria:
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Registered and operating in Singapore
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Have a minimum of 30% local shareholding
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Have group annual turnover of not more than $100 million OR group employment size of not more than 200 employees
Integrated Solutions
The available Integrated Solutions (IS) are listed as follow :