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.