To better support companies looking to upgrade and innovate their business domestically or overseas, the Enterprise Development Grant (EDG) was set-up in October 2018, which replaced the existing Capability Development Grant (CDG) and the Global Company Partnership (GCP).
The EDG provides funding for up to 70% of qualifying project costs namely 3rd-party consultancy fees, software and equipment, and internal manpower cost.
The EDG is restricted to projects that are new and not generating revenue during the application. That means no contract signing with the suppliers or service providers and no work or payment for the project beforehand.
All local projects must be completed within 18 months upon successful application, while projects under the Overseas Marketing Presence (OMP) must be completed within 12 months.
Who qualifies for the Enterprise Development Grant (EDG)?
SMEs registered and operating in Singapore, with a minimum of 30% local shareholding and in a financially viable position to complete the project.
The project must focus on either Core Capabilities, Market Access or Innovation and Productivity.
How do I apply for the Enterprise Development Grant (EDG)?
Firstly, you need an Enterprise Singapore-recognised consultant with certification, who will have the expertise and ethics to execute the project.
You would need to get a quotation, a proposal and their certification from your selected consultants. You would also need to prepare the following documents: latest ACRA search results, latest audited financial statement (i.e. company revenue, staff remuneration, depreciation and net operating profit before tax), supporting documents for hardware/equipment and software cost, salary cost and office space rental (for those under the Overseas Marketing Presence).
Subsequently, you can apply for the EDG via the Business Grant Portal with your company’s CorpPass. After which, you will wait roughly 8 to 10 weeks for the application to be processed.
Alternatively, approach our dedicated team who will help guide you through the process every step of the way.
What are the projects that qualify under the Enterprise Development Grant (EDG)?
Core Capabilities
Core Capability projects focus on growth and transformation by strengthening business foundations through the following developments:
- Strategic Brand and Marketing Development refers to branding campaigns encompassing research, brand audit, branding strategy, visual development and internal training.
- Business Strategy Development covers a review of business framework and management system, BE assessment and accreditation preparation, testing, certifications, etc.
- Human Capital Development encompasses any project that develops manpower in your business, i.e. recruitment, benefits, performance management, training and more.
- Service Excellence projects help improve customer experiences, such as through new customer journey maps, customer analytics technology and certifications.
- Financial Management projects are those that cover new frameworks for resource management and deployment and managing internal governance and promoting stakeholder accountability, stronger risk management systems and corporate financial strategy for change management and mergers and acquisitions.
Innovation and Productivity
Innovation and Productivity projects support companies in exploring new areas for growth and finding new ways to enhance productivity. This could include reviewing and redesigning workflows, tapping into automation and technologies, product development and process redesign.
Market Access
Market Access projects help Singapore companies venture abroad, by subsidising the costs that come with expansion into overseas markets. This covers pilot projects, test-bedding, overseas marketing presence, mergers and acquisitions and standards adoption.
The EDG supports any SME in undertaking projects that stimulate growth and development. With the help of recognised consultants like ourselves, getting the EDG could be the next step towards further expansion of your business. Speak to our passionate team and start on a branding project that can be subsidised with the Enterprise Development Grant.
Table of Contents
Who qualifies for the Enterprise Development Grant (EDG)?
How do I apply for the Enterprise Development Grant (EDG)?
What are the projects that qualify under the Enterprise Development Grant (EDG)?
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The once photo-and-video-sharing application has turned into more than just a platform for you to share your selfies or stalk your favourite brands or celebrities. Now, you can look to purchase your desired items straight off Instagram, changing Instagram marketing forever.
Last year, Instagram introduced shoppable tags, where brands could tag up to 5 products in a photo. The feature was then developed to be included in stories and videos. This allows users to access their favourite products by viewing a short description and its price with a single tap.
It’s always nice to see your digital marketing efforts get viral on social media and reach a wide audience in a very short period of time. However, chasing viral marketing may lead to your downfall in this digital age.
Virality is often dictated by the STEPPS factor – Social Currency, Triggers, Emotion, Public, Practical Value, and Stories. Due to the widespread content, the things that trend these days can range from heartfelt stories to a simple photo of an egg.
Yes, a stock image of an egg went viral on Instagram and beat Kylie Jenner’s record for the number of likes. If this piece of news does not dissuade you from pursuing virality mindlessly, here are 3 more reasons to do so:
When we talk about talking selfies and stories on our socials, which side are you on? Instagram, Facebook or… Snapchat? When Facebook attempted to buy Snapchat recently, they were rejected despite a whopping bid of $3 billion. In response, Facebook leveraged on their acquisition of Instagram to compete against Snapchat, by launching Instagram stories or what’s widely known at Instastories.
Talk about life’s regrets.
With the purchase, Instagram’s platform soared in terms of the number of users and ads, while Snapchat struggled to keep up. Facebook also launched Facebook Stories to add options for the avid social media users. From there, Snapchat started to look more and more like an Instagram copy instead of the other way around, as they struggled to innovate to pull ahead of its ‘successor’.
Until now.
Snapchat recently launched a gaming platform, similar to WeChat, in an attempt to improve user engagement and move ahead of their rival. They released a series of Snapchat filter games and Augmented Reality (AR) games that users can play on the platform.
Most notably, the AR Tennis game against Serena Williams is a clear sign that Snapchat’s advanced AR technology is going to become their selling point.
Y’all seeing this? Get your chance to battle @serenawilliams – you wont win 😂 but try your best and share your high score. pic.twitter.com/sXuxtImgJI
— Alexis Ohanian 🧠 (@alexisohanian) July 2, 2018
Credit: Alexis Ohanian Sr.
Snapchat games provide an additional tool for businesses to adapt. (YAY!) That is always welcomed for creative people (*wink wink*) to adapt for marketing.
Does Snapchat still matter?
Well, it really depends.
Snapchat numbers have risen steadily over the past year, with more and more youths adopting the platform. We’ve to admit, they’ve got really nice filters. Heh. This means any strategy or business targeting youths have to take Snapchat into serious consideration.
Incorporating gaming has given other platforms (aka Facebook) a boost before and it should do the same for Snapchat.
What can businesses do with this information?
Consider playing around with Snapchat’s functions and ads viewing if you are unfamiliar with the platform. Businesses can also start looking into adapting filters and AR games to help their own cause.
Do keep the demographics of Snapchat in mind while developing and utilising them and tie in to your branding. It will be a waste of marketing dollars otherwise.
If you want to utilise them, and you are having trouble with incorporating into your brand, consult an agency to help you.