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.
Support is extended at 3 levels :
| Enterprise-level |
Project done by an individual SME
|
Up to 50% support |
| Consortium-level |
Project done by at least 3 companies, half of which must be SMEs
|
Up to 50% support for all participants (including 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.