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Featured grants of the month:

Technology Enterprise Commercialisation Scheme (TECS)

iSprint

 

 

Technology Enterprise Commercialisation Scheme (TECS)

 

What is TECS?

As part of SPRING’s effort to develop a new breed of technologically innovative global enterprises, the Technology Enterprise Commercialisation Scheme (TECS) aims to catalyse the formation and growth of such start-ups based on strong technology Intellectual Property and a scalable business model.

 

How will it help?

Through the TECS, SPRING provides early-stage funding to successful applicants to fund such R&D efforts towards the commercialisation of proprietary technology ideas.

 

When can you apply?

Submissions can be made through this TECS portal anytime, throughout the year. Proposals are reviewed every two months or earlier.

 

What kind of projects qualify?

Your project must be either a :

 

  1. Proof-Of-Concept Project
    • At conceptualisation stage
    • The technical / scientific viability still needs to be proven.
    • Clearly explain the innovative science or technology concept behind the idea that is to be proven in the proposal of the project.
    • Up to 100% of qualifying costs, subject to a maximum of S$250,000.
       
  2. Proof-Of-Value Project
    • Should be a technically / scientifically viable concept
    • Looking to carry out further R&D or develop a working prototype
    • Validate the commercial merit of an established concept.
    • Up to 85% of qualifying costs, subject to a maximum of S$500,000.


Who can apply?

  1. You have to be an SME.
  2. Start-up
  3. Research Scientists and Engineers (POC Projects Only)

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iSprint

 

What is iSprint?

If you are looking to automate any manual processes in your office, you can tap onto the iSprint Grant. There are two kinds of tranches. One is Packaged Solutions and the other is Customised Solutions. Please refer below for a breakdown:

 

  1. Packaged Solutions
    • Types of Project: Finance, Accounting, Human Resources, Payroll etc.
    • Support level: Up to 70% of qualifying cost, capped at S$20,000 per SME
    • Qualifying costs: Software, Consultancy Services, Training
       
  2. Customised Solutions:
    • Types of Project: Customer Relationship Management, Enterprise Resource Planning
    • Support level: Up to 70% of qualifying costs
    • Qualifying costs: Consultancy services


The infocomm project should lead to:

  1. increase in efficiency/ productivity
  2. increase in revenue
  3. increase in value-added


Who is eligible?

The most important requirement is that the company is purchasing a new software to automate a manual process. If the company is purchasing a new software or machine that automates an already existing IT software or project, IDA will reject the submission. They are only keen in automating processes that are still manually done (e.g. updating excel sheets or writing on paper)

 

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Success Stories

Company Name:

Berrylite Frozen Yogurt


Company Profile:

Berrylite is a 100% Fat-Free American Premium Frozen Yogurt, which is REAL frozen yogurt packed with billions of live and active cultures.

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