Singapore SME Innovation Support Schemes - PRO INNO Europe

global trading companies in Singapore and position the country as a base to expand into
the region in partnership with Singapore-based companies.
3 Spring Singapore SME support schemes
(SPRING Singapore, 2010 budget S$90 million, approximately €54 million )
Spring’s main role is in assisting the development and growth of Singapore’s indigenous
companies . It therefore runs programmes aimed mostly at entrepreneurs, start-ups and
SMEs. For its programmes aimed at SMEs Spring Singapore divides it offerings into Capability
Programmes and Financing Programmes.
The Capability Programmes are aimed at the development of SME competencies for long
term growth. They include such things as business mentorship, management development
for CEOs, technical assistance programmes, marketing programmes etc.
The programmes aimed specifically at Technology Innovation include the following;
• Innovation Voucher Scheme : This is similar to the Innovation Voucher schemes run
by many Europe, whereby an SME can apply for a voucher worth S$5000 (€3000 ),
which can be redeemed for knowledge related advice and services from knowledge
providers. From mid 2012 the innovation voucher scheme is to be extended to cover
advice and services in productivity, HR development and financial management, in
addition to technical advice and services.
• Technology Enterprise Commercialisation Scheme : This scheme, which is running
since 2008, aims to facilitate the growth of technologically innovative global enterprises
through the provision of early stage funding for R&D aimed at commercialisation
of proprietary technology. The scheme has a focus on post graduates in Universities
who have a scalable business model, but which is riskier and further away from
the market. The scheme uses two stages of funding, a Proof of Concept Phase and a
Proof of Value Phase. The proof of concept is aimed at start-ups or researchers from
public R&D organisations, to demonstrate the technical/scientific viability of a technology.
Costs are funded 100% up to a maximum of S$250,000 (€150,000). In this
case, although the grant can initially be to the university, a start-up company must be
formed before the end of the project. The Proof of Value Phase is aimed at start-ups to
do further R&D on successful POC projects. This phase should lead to a first working
prototype and is funded at 85% up to S$500,000 (€300,000) per project. Applicants
are required to demonstrate proof of interest from a potential customer or third party
investor. In 2010 23 new projects were supported, with a cumulative on-going support
for 77 projects.
• Technology Innovation Programme : This is a range of funding programmes aimed
at supporting the cost of technology innovation in local Singapore companies. It has
three main components:
o Funding for SMEs or consortia which consist of at least half SMEs, to undertake
projects which involve the application of technology to develop or
improve products, processes or business models. Typically projects are
50% funded, unless the project is a consortium project which has benefit
beyond the consortium members, in which case it can qualify for 70%
funding.
o Centres of Innovation which are centres established in the polytechnics or
research institutes, offering sector specific technology consultancy and
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