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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, ICV also supports SMEs in the adoption and implementation of simple solutions to improve business efficiency and productivity.
SMEs can use the ICV 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.
All local SMEs can apply for ICV if they meet the following criteria:
- Registered Business entitiy that is operating in Singapore
- Group Annual Sales Turnover ≤ S$100 million
- Group Employment Size ≤ 200
- ≥ 30% Local Shareholding
How can the ICV voucher benefit me
SMEs can use the ICV voucher to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources and financial management.
For implementation of simple productivity solutions, each SME can apply up to a maximum of two vouchers value of $5,000 each to implement solutions out of the available eight vouchers for each SME. For this, SMEs may apply directly with SPRING to support the productivity solutions, on a reimbursement basis.
The reimbursement will be made directly to the SME. All purchases must be made only after the indicated solutions/ items have been approved in the application.
*Our integrated solutions falls under ICV eligibility
For more information on ICV on SPRING site please click here
Mobile : 96850606
Email : firstname.lastname@example.org
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Talk to us if you have a specific project, ask about eligibility for 100% full government subsidy, or a quick demo on our software, simply fill in the form below and we’ll get back to you within one work day.