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GOVERNMENT DEVELOPMENT ASSISTANCE PROGRAMMES
TIMES BUSINESS DIRECTORY OF SINGAPORE 2020/2021
Programmes Description Reference
High-impact, multi-TAC Projects
High-impact projects done in collaboration among TACs can receive support of up to 90%. Models of multi-TAC partnerships include collaborations within and across industries, or consortiums where larger TACs step up to take the initiative to engage and support smaller TACs to work towards common outcomes.
Funding will be extended to projects that:
• Exhibit outcomes such as significant productivity improvements to small and medium enterprises
(SMEs)
• Have benefits to a sizeable number of SMEs
• Are innovative and able to transform sectors under the TACs
Eligibility Criteria
LEAD is only applicable to trade associations and chambers (TACs) which include Singapore- registered societies, professional bodies, unions of employers, overseas business chambers and companies limited by guarantee. TACs must also meet the following criteria:
• Represent a key industry (i.e. an industry that contributes significantly to the economy, has good
export potential and strong employment size)
• Have a sizeable membership representing the industry
• Have a strong track record in helping small and medium enterprises (SMEs)
• The project(s) to be undertaken must not have started at the time of the application
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Business Improvement Fund (BIF)
The Business Improvement Fund (BIF) aims to encourage technology innovation and adoption, redesign of business model and processes in the tourism sector to improve productivity and competitiveness.
Eligibility Criteria
The BIF is open to all Singapore-registered businesses/companies embarking on projects with a clear tourism focus.
These companies are:
• Tourism companies taking on capability development initiatives
• Technology companies that create innovative technology products and services for tourism
businesses.
Aligned to Enterprise Singapore’s Enterprise Development Grant (EDG), the BIF supports projects that help tourism companies to upgrade the business or innovate, under two pillars:
A. Core Capabilities
Projects under Core Capabilities help companies prepare for growth and transformation by strengthening their business foundations.
• Business Strategy Development
• Financial Management
• Human Capital Development
• Service Excellence
• Strategic Brand and Marketing Development
B. Innovation & Productivity
Projects under Innovation & Productivity support companies that explore new areas of growth, or look for ways to enhance efficiency. These could include reviewing and redesigning workflow and processes. Companies could also tap into automation and technologies to make routine tasks more efficient.
• Automation
• Process Redesign
• Product Development
STB
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