Enterprise Development Grant
Finance Minister Heng Swee Keat has announced at Budget 2018 that Spring Singapore's Capability Development Grant (CDG) and International Enterprise Singapore's Global Company Partnership (GCP) grant will be combined into the Enterprise Development Grant (EDG).
Both the CDG and GCP would expire on 31 March 2018. The new EDG would start in Q4 2018 for funding in FY2018 and FY2019.
As EDG would be combing CDG and GCP, we can reasonably foresee the many key successful objectives of CDG and GCP would continue to be the focus in the new EDG. Here is a quick recap of CDG and GCP.
GCP grant is designed to help take Singapore businesses go global by providing assistance in the areas of building internal capabilities, manpower development and gaining market access. In short, it support overseas expansion plans for Singapore businesses.
CDG grant supports Singapore businesses in upgrading their operational capabilities in the following 10 development areas:
Product Development
Branding & Marketing
Business Excellence
Business Model Transformation
Standards Adoption
Financial Management
Human Capital Development
Intellectual Property
Enhancing Business Processes for Productivity
Service Excellence
Singapore businesses interested to apply for EDG should plan ahead in prioritizing their operational capabilities building and overseas expansion plans. Application of EDG would be via the Business Grant Portal.
At BioQuest advisory, we are really excited to continue supporting our Singapore businesses in leveraging on the new EDG for capabilities building and internationalization. Please do drop us a line at info@bioquestsg.com to stay in touch for more updates on EDG.