The Innovation Voucher Scheme (IVS) connects public Knowledge Institutions (KI) with SMEs to encourage SMEs in adopting technology to develop their innovative ideas.
The innovation vouchers can be used to support projects or procure services from the various approved knowledge institutions. These activities should facilitate the transfer of know-how from the knowledge institution to the SMEs.
These projects or services should generally adopt technology to either enhance or develop new products, processes, applications, practices or operations, or result in new technology innovation capabilities being developed e.g acquiring new technology / upgrading staff through customised training & development courses.
View the list of knowledge transfer activities.
All SMEs with an innovative idea can apply for an innovation voucher worth S$5,000 from SPRING. These can be redeemed at participating KIs for technology-related advice and services. SMEs may approach the KIs individually or pool their vouchers (up to a maximum of 10 SMEs) for economies of scale.
All SMEs can apply for the innovation vouchers, subject to the following criteria :
- at least 30% of your shareholding is local
- your fixed assets investment (at net book value) is not more than S$15 million
- you have no more than 200 employees (for SMEs in the service sector)
- physically present and registered in Singapore
Conditions for the usage of vouchers :
- can only be used at KIs approved by SPRING
- non-transferable and can only be used by the assigned SME
- not tradable or exchangeable for cash
- valid for a year from issue date
- redeemable only once at any of the approved KIs, limited to one KI per voucher usage (if cost incurred exceeds the voucher value, the SME is expected to top up the additional amount on its own. If cost incurred is lower than voucher value, the unused amount will not be refunded)
- can be used to redeem one or more project / service, up to the face-value of the voucher
- can be pooled for use at a KI if there are synergies / economies of scale (companies pooling the vouchers must not be related* to each other)
* Related companies : subsidiaries, associate companies, parent companies, other companies owned by existing shareholders,etc
SMEs must fulfill the following obligations when participating in the IVS :
- meet the SME criteria and submit only one application per call
- provide sufficient details on the application from pertaining to the expertise required and attach supporting documents (if any)
- ensure that the specified project has not commenced or is funded by SPRING’s other existing schemes (eg Technology Innovation Program) / or by another public-sector organisation at the time of application
- ensure that project/ service qualifies as a knowledge transfer activity defined by SPRING and project/ service outcome should directly benefit the applicant company and not its parent company, subsidiary or affiliated enterprises
- ensure that voucher is utilized within the validity period. SMEs who are unable to utilize the vouchers before expiry date will be barred from applying the IVS for at least 12 months from the expiry date
- select an appropriate KI approved by SPRING, engage the KI and commence the project within the 1-yr validity period of the voucher
- put up the final report either on its own or in collaboration with the KI upon completion of the project/ service and submit the report to the KI with both parties co-signing
There will be 3 application calls per year with an estimate of 200 vouchers to be given out for each call. Each call will be open for a month. The 2010 application call schedule is as follows :
|
Number of Calls
|
Opening Date
|
Closing Date
|
|
First
|
07 Apr 10
|
06 May 10
|
|
Second
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16 Jul 10
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13 Aug 10
|
|
Third
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11 Oct 10
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10 Nov 10
|
To increase the chances of a successful application, the technology services required should preferably be related to your current business activities. The services should also fall within the scope of expertise available in the KIs. Therefore, you are required to enquire about the expertise and services available in the KIs prior to application.
All applications will be processed within 4 to 6 weeks upon the receipt of the application.
Please note that companies previously awarded Innovation Vouchers may only reapply 1 year after project completion.
Download and complete the
Innovation Voucher Scheme application form (EXCEL format, 263kB). Mail it to the following address :
1 Fusionopolis Way,
#20-01 Connexis South
Singapore 138632
Please download and use the latest application form from the above link. For future reference, please retain a copy of the application form and send the original hardcopy. All applications must reach us before the closing date of each application call.
Click here to find out more.
Centres of Innovation (COI)
A*STAR Research Institutes
Institute of Technical Education
Polytechnics
Universities
Disclaimer : Nothing herein shall be interpreted or construed to mean that SPRING Singapore is endorsing any of the Knowledge Institution listed herein. SPRING Singapore does not in any way give any Guarantee or Warranty in respect of the services provided by the listed Knowledge Institution.
Click here to find out more.
Companies that obtained the Innovation Vouchers
View the
list of successful companies for the first grant call in Apr 2009 (EXCEL format, 35kB).
View the
list of successful companies for the second grant call in Jul 2009 (EXCEL format, 25kB).
View the
list of successful companies for the third grant call in Oct 2009 (EXCEL format, 22kB).
View the
list of successful companies for the fourth grant call in Apr 2010 (EXCEL format, 31.5kB).
FAQs on the Innovation Voucher Scheme (IVS)
Download the
FAQs on Innovation Voucher Scheme (PDF format, 153kB).
For information specific to expertise and services, please contact the relevant KIs directly.