Among grants and subsidies offered by the Government to companies incorporated in Singapore, companies with a view to improving productivity though technology solutions can claim for Productivity Solutions Grant (PSG).
What is Productivity Solutions Grant (PSG)?
The Productivity Solutions Grant (PSG) is a new initiative, coordinated by MTI’s Grants Management Office (GMO) and administered by the relevant agencies, to assist businesses in its transformation journey. Aligned to the Industry Transformation Maps (ITMs), PSG provides support for the adoption of IT solutions and equipment that have been pre-scoped by the industries’ lead agencies.
As part of the Government’s efforts to simplify the overall grant landscape, PSG streamlines existing grant schemes with pre-scoped solutions into one. Businesses that wish to undertake productivity solutions will only need to apply for support under one grant scheme. PSG also aims to better support businesses in the next phase of transformation, which may require more substantial investments and longer term commitments.
As announced at Budget 2018, the support for pre-approved solutions under the SMEs Go Digital program is among the first few to be streamlined into PSG.
SMEs can apply for Productivity Solutions Grant 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)
Here are the steps you can take when applying for Productivity Solutions Grant:
- Click here for the list of supportable solutions and identify relevant solutions that best suit your business needs.
- For solutions: get a quotation from the pre-approved vendor.
For equipment: source for the equipment and get a quotation from the vendor.
- Submit an application on the Business Grant Portal (BGP). You will need to register for a CorpPass account to transact on the portal.
Should you need any support in claiming Productivity Solutions Grant, please contact us for a 1st free consultation!