The Enterprise Development Grant (EDG) is a financial assistance program by Enterprise Singapore that supports local businesses in building core capabilities, increasing productivity, and expanding internationally. If you’re a business in Singapore looking to improve your operations, innovate, or expand overseas, the EDG offers funding opportunities tailored to meet these needs.

EDG Eligibility Criteria

Before applying, ensure your business meets the basic eligibility requirements for the EDG.

Basic Requirements

Company Registration: Your business must be registered and operating in Singapore.
Local Shareholding: A minimum of 30% local shareholding is required.
Financial Viability: Your company should have the financial capacity to start and complete the project.
Project Status: The project must not have started before the application is submitted.

Meeting these criteria is essential, as they determine your company’s qualification for the grant.

Pre-Application Preparation

Preparing a thorough and organized application is critical to a successful EDG application. Here are the steps to get started.

Required Documents

Gathering the necessary documentation before starting the application process will help streamline your submission. Required documents include:

Latest ACRA Search: Ensure it is no older than six months.
Financial Statements: Provide audited financial statements or certified management accounts.
Project Proposal: This proposal should outline the scope, goals, and expected outcomes of the project.
Quotations for Project Costs: Include relevant quotations to justify the project’s expenses.
Consultant Certifications: If your project involves consultants, provide their certifications where applicable.

Project Planning

Plan your project carefully to meet the EDG’s focus areas. Key planning steps include:

Define Project Objectives: Identify clear, measurable outcomes for the project.
Select Project Category: Choose one of three categories—Core Capabilities, Innovation & Productivity, or Market Access.
Develop a Comprehensive Proposal: Prepare a proposal that outlines the project’s expected financial impact and outcomes over the next three years.

A well-defined project plan with measurable outcomes increases the chances of grant approval.

EDG Application Process

Once you’ve prepared your documents and proposal, follow these steps to submit your application.

Submission Steps

Log in to the Business Grants Portal: Use CorpPass to access the portal.
Complete the Application Form: Fill out the online form with your company and project details.
Upload Supporting Documents: Attach all necessary documents, including the project proposal and financial statements.
Submit the Application: After double-checking all information, submit your application for review.

Processing Timeline

The processing time for EDG applications varies but generally takes between 8-12 weeks. In some cases, Enterprise Singapore may request additional information through the Business Grants Portal.

If approved, you will receive a Letter of Offer (LOF), which outlines the grant’s terms and conditions.

Types of EDG Projects

The EDG funds projects across three main categories. Each category has specific goals and requirements.

1. Core Capabilities

This category focuses on projects that strengthen foundational business functions, going beyond basic requirements. Examples include:

Business Strategy Development: Crafting long-term growth strategies.
Financial Management: Implementing advanced financial systems.
Human Capital Development: Programs to enhance workforce skills and capabilities.
Service Excellence: Initiatives to improve customer experience and service standards.
Brand and Marketing Development: Strategic branding projects that support long-term business growth.

2. Innovation and Productivity

These projects aim to improve efficiency, reduce costs, or enhance product/service quality through innovation and technology.

Process Redesign: Overhauling processes to streamline operations.
Technology Adoption: Implementing automation and advanced technologies.
Sustainability Projects: Projects focusing on environmental responsibility are eligible for up to 70% funding support until March 2026.

3. Market Access

Projects in this category support businesses in expanding their operations internationally.

Market Entry Strategies: Developing plans to enter new markets.
Overseas Standards Adoption: Adopting international standards to facilitate exports.
Pilot Projects: Testing products or services in international markets.
Export Capability Development: Building export-related capabilities to grow overseas.

Selecting the appropriate project category based on your business goals will help focus your application and align it with EDG’s objectives.

Post-Approval Requirements

Once approved, follow these steps to ensure smooth project execution and claim your grant.

Key Actions After Approval

Acknowledge the Letter of Offer: Accept the terms within the specified timeframe.
Begin Project Implementation: Start the project only after receiving the LOF.
Maintain Documentation: Keep records of all project-related expenses and activities to support your claim.
Submit Claims: After project completion, submit your claims within six months.

Failure to maintain proper documentation or adhere to the project guidelines can affect your ability to receive funding.

Frequently Asked Questions

1. Who is eligible for the Enterprise Development Grant?

To qualify, businesses must be registered and operating in Singapore, with at least 30% local shareholding and financial viability to complete the project.

2. Can I start my project before the EDG application is approved?

No, the project must not commence until the application is approved to be eligible for funding.

3. How long does it take for the EDG application to be processed?

Processing usually takes 8-12 weeks, but additional clarification requests may extend this period.

4. What are the categories of EDG projects?

The EDG funds projects in three categories: Core Capabilities, Innovation & Productivity, and Market Access.

5. How much funding can I receive through the EDG?

Funding varies by project category and type, with up to 70% support for SMEs and up to 50% for non-SMEs in specific project areas.

Conclusion

Applying for the Enterprise Development Grant in Singapore can be a valuable way to support business growth, innovation, and international expansion. By understanding the eligibility criteria, preparing a thorough application, and choosing the right project category, businesses can maximize their chances of approval and effectively leverage this grant to achieve their growth objectives.