EDG for Product Development
Estimated reading time: 5 minutes
Published: 26 March 2021
Updated: 26 March 2021
Who is this article for?
Anyone who is interested in utilising the Enterprise Development Grant to support product design and development.
The Enterprise Development Grant allows SMEs the opportunity to expand their businesses in various ways; in this article, we specifically address how it can help Singaporean SMEs develop new products to introduce into the market under the Innovation and Productivity category of the grant.
– Be a business entity registered and operating in Singapore
– Have minimum 30% local shareholding (citizens or PRs).
– You qualify as an SME:
– Group sales turnover less than or equal to S$100M or
– Group employment size less than or equal to 200 employees
– Be in a financially viable position to start and complete the project. Applicants need to have the finances to support the project as a whole by themselves.
– You have not started on the project.
The last section is especially important because companies will need to fund the projects first. The EDG funds are provided only once specific milestones are hit – i.e. the funds are provided as reimbursements.
The process is seen in the image to the right.
Everything you need when applying on the portal
If you have everything ready, the process may take around half an hour. We recommend you poke around on the portal for a bit as well.
We have attached a summary Google Doc that readers can copy and fill out, then use as reference for the Business Grants Portal application. We recommend assigning specific sections to relevant people on your team, then having the director review everything one last time before submission.
We recommend labeling all attachments clearly with the company name and document title for easy assessment by Enterprise Singapore. The formats we follow tend to look as such:
[ADI] Project Proposal
[ADI] Vendor Quotation – Vendor Name (e.g. [ADI] Vendor Quotation – Metal Works LLP
Look, we get it. The bureaucracy can be confusing. Just text us on WhatsApp if you need some mild guidance by clicking on the button on the bottom right.
ADI provides consultancy services for more comprehensive guidance (e.g. drafting the entire development plan for your proposal). Alternatively, there are many online resources for writing great grant applications as well.