Enterprise Development Grant (EDG) Cheat Sheet
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 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 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 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.