TIP can help to defray the cost of undertaking projects which involve the application of technology to develop or improve products, processes or business models. You will need a viable business plan that includes a strategic investment in technology innovation as part of your overall business strategy.
You can use the grant to defray up to 50% or 70% of qualifying costs of the technology project. Areas which qualify for the grant include :
- Manpower-related costs
- Professional Services
- Prototyping–related services
- Technical Support Services (e.g. testing, certification)
- Equipment, Materials & Consumables, and Software costs
- Intellectual Property Rights
Businesses with scalable business models and strong growth potential will be considered favourably. The project must be carried out in Singapore.
As part of the BUILD (Business Upgrading Initiatives for Long-Term Development) enhancement package to help businesses strengthen enterprise capabilities during the downturn, the qualifying costs for all capability development programmes will be increased from 50% to 70% from 1 February 2009 to 31 January 2011.
Support is extended at 3 levels :
| Enterprise-level |
Project done by an individual SME
|
Up to 70% support |
| Consortium-level |
Project done by at least 3 companies, half of which must be SMEs
|
Up to 70% support for SMEs and 50% for non-SMEs |
| Industry-level |
Consortium-level projects which can benefit other members of the industry
|
Up to 70% support for all participants (including non-SMEs) |
Before you apply
- Ensure that you understand the qualification guidelines.
- Contact SPRING to discuss your project. You will need to work closely with SPRING to ensure your project meet the TIP-Projects guidelines.
- Finalise your project with SPRING. If your project and proposal qualify for TIP-Projects, you will be given the necessary application forms.
- Submit the application form to SPRING.
Upon successful application
- Receive a Letter of Offer from SPRING.
- Accept the Letter of Offer and start on your project.
- Keep proper financial records. E.g. expenses, invoices, receipts relating to the project.
- Keep proper project records. E.g. scope, timeline, deliverables, progress reports, project sign-offs, and evaluation reports.
- Pay the consultant first. The grant is given on a reimbursement basis. You will need to pay the consultant first.
Claiming for funds
- Submit your claim form 1a & 1b (EXCEL format, 46kB) with your financial and project records and Giro Form (PDF format, 77kB). The procedure for claims will be provided by SPRING.
- Wait for SPRING to approve your claims and reimburse you. SPRING will need to audit your claims.