What is the Enterprise Development Grant (EDG)?
The Enterprise Development Grant helps Singapore companies grow and transform.
There are 3 pillars under EDG:
- Core Capabilities
Projects under Core Capabilities help businesses prepare for growth and transformation by strengthening their business foundations. These should go beyond basic functions such as sales and accounting.
- Innovation and Productivity
Projects under Innovation and Productivity support companies that explore new areas of growth, or look for ways to enhance efficiency or optimise resource usage to improve their sustainability performance. These could include reviewing and redesigning workflow and processes. Companies could also tap into automation and technologies to make routine tasks more efficient and sustainable.
- Market Access
Projects under Market Access support Singapore companies that are willing and ready to venture overseas. You may tap into the EDG to help defray some of the costs of expanding into overseas markets. (As of 30 December 2020, Overseas Marketing Presence will be supported under the Market Readiness Assistance Grant (MRA).
The EDG covers qualifying project costs namely third party consultancy fees, software and equipment, and internal manpower costs.
For consulting work, Enterprise Singapore has appointed three certification bodies with reputed certification programmes. Only Enterprise Singapore-recognised consultants can be appointed for the consulting portion of the project.
Due to the impact of Covid-19, the Singapore government had extended the maximum support level for EDG to 80%. This extension will expire on the 31st of March 2022. After which, the maximum support level will be reduced to 70%.
We have engaged the services of an Enterprise Singapore-recognised consultant to assist our clients with the EDG application.
When in doubt, seek legal advice or consult an experienced ACRA Filing Agent.
The editorial team at Singapore Secretary Services
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