Spring ICV Grant – Innovation & Capability Voucher at a Glance

The Innovation & Capability Voucher (ICV) is a simple to apply, easy-to-use voucher valued at $5,000, to encourage SMEs to take their first step towards capability development. SMEs can use the voucher to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources and financial management. Apart from consultancy, Spring ICV Grant also supports SMEs in the adoption and implementation of simple solutions to improve business efficiency and productivity. SMEs can use the Spring ICV Grant to implement productivity solutions under the supportable cost categories of (i) equipment & hardware, (ii) technical solutions & training, (iii) design & renovation. Each SME is entitled to a maximum of eight vouchers. Each ICV project must be completed before the submission of a new application. The duration for each project should not exceed six months.

This voucher is most suitable for clients who would like to have software that enhances productivity.
The following table highlights the areas that we specialise in:

 

 Name

Description 

Supportable Components 

1.   Point-of-Sales
(POS) System
The system automates processes in tracking of inventory and sales transactions. The system is also able to generate sales report and provides insights on the company’s customers and into the store’s best-selling products.          POS system, hardware (barcode scanner, receipt printer etc.) and related software.
 2. Mobile Ordering and Payment System The system is a total solution that ranges from order taking to payment. The mobile ordering system facilitates the ordering of products, items and inventory through the use of a mobile device, thereby resulting in increased productivity and reduction in manpower. Customer billing and payment system is an integral part of the solution.        Hardware (smart devices etc.), related software, on-boarding services and customisation, and related training.
3. Inventory Management
System
The system automates inventory management, monitors stock availability and streamlines transaction data entries. Inventory reports provide information on stock movements and their current status. Software, hardware (bar code scanner etc.), on-boarding services and customisation, related training and subscription cost (up to 2 years).
 4. E-Procurement Management System This is an all-in-one procurement system for buyers and suppliers to enable a seamless electronic execution of supply delivery, ordering, goods receipt, and invoice generation. Software system, on-boarding services and customisation, related training and subscription cost (up to 2 years).

 

Eligibility

All local SMEs can apply for Spring ICV Grant if they meet the following criteria:

  • Registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Have group annual turnover of not more than $100 million OR group employment size of not more than 200 employees

If you are unsure about your eligibility or have any questions on Spring ICV Grant, please feel free to contact us.

All of our clients who are eligible under this scheme had 100% success in claiming for their Spring ICV Grant vouchers.

Download ICV Brochure

There are also Various Other Grants Available for SEO or Website Design

spring icv grant