Companies keen to improve productivity by adopting technology solutions can now tap this simplified grant.
Technology is not about fancy and expensive high-end solutions. You can kick start your technology journey by taking simple steps to automate existing processes and improve productivity. The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.
For a start, PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries. Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.
The government will support up to 70% for IT solutions and equipment under the PSG. The sharing of cost with businesses ensures that companies take ownership in selecting the most appropriate products for its stage of growth. With up to 70% funding support, PSG serves as an avenue for companies to make long-term technology investments.
SMEs can apply for PSG if they meet the following criteria:
• Registered and operating in Singapore
• Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
• Have a minimum of 30% local shareholding (for selected solutions only)
• Aims to better support businesses in the next phase of transformation, which may require more substantial investments and longer term commitments.
• For businesses that want simpler solutions for improving productivity
• Funding for Innovation
• Cost Savings