Innovation & Capability Voucher Expanded to Support SMEs in Business and Productivity Improvements and Solutions

The total number each SME can receive for the period remains at eight vouchers.

The maximum number of vouchers for consultancy projects is two for each of the capability areas (innovation, productivity, human resource development and financial management). Enterprises that have benefited from ICV and wish to proceed with projects of greater scope and intensity are welcome to apply for support from SPRING’s Capability Development Grant (CDG).

ICV projects should be undertaken sequentially. SMEs will need to complete each ICV project prior to a new application. Each voucher is valid for a period of six months from the approval date within which the project must be completed.

All local SMEs can apply for ICV if they are physically located and registered in Singapore, have at least 30% local shareholding, and have group annual sales of not more than $100 million or group employment size not exceeding 200 employees.

Interested applicants may visit the SPRING ICV website www.spring.gov.sg/ICV or contact the EnterpriseOne Hotline at 6898 1800 for more information. The Enhanced ICV will take effect and be open for applications from 1 March 2014 onwards.