Enterprise Singapore (ESG) Enterprise Development Grant (EDG) Frequently Asked Questions (FAQ)
We are experienced consultants who have been administering Capability Development Grant (CDG) by SPRING. We hope to give you the latest updates on the new grant, Enterprise Development Grant (EDG) by Enterprise Singapore.
What is EDG?
EDG is the short form for Enterprise Development Grant. This grant was announced in the Annual Budget 2018. In short, EDG is a grant for established local SMEs (Small Medium Enterprises) to help them grow and transform their businesses.
Has it started?
Yes, Enterprise Development Grant (EDG) is officially launched on 25 October 2018. It replaces Capability Development Grant (CDG).
Is CDG over?
Yes, CDG has ended on 24th October 2018.
How can EDG help me then?
Similar to CDG, you can get funding if your project is approved.
How much funding can I get?
You can get funding up to 70%!
Who will approve EDG?
EDG will be under the new governmental agency called Enterprise Singapore, ESG in abbreviated form. ESG is a merged entity of SPRING and IE Singapore. They give the final green light to all grants.
What is the maximum grant?
That really depends on the scope of the project. The grant is correlated to the size of the company in terms of turnover and manpower. We do not have the exact algorithm nor science on this.
Can you give an actual number that I can work with?
Ok, this is strictly based on our experience with CDG and based on some assumptions.
Usually, projects are about $40k (based on CDG Lite).
But, there are projects way above $40k, hitting six figures, depending on the scope of work.
What kind of projects are covered under EDG?
The projects can fall under these scope:
1. Core Capabilities
a) Strategic Brand and Marketing Development
b) Business Strategy Development
c) Human Capital Development
d) Service Excellence
e) Financial Management
2. Innovation and Productivity
a) Process Redesign
b) Product Development
3. Market Access
a) Overseas Marketing Presence (OMP)
b) Market Access
c) Pilot Project and Test Bedding
d) Mergers and Acquisitions (M&A)
Am I eligible for CDG?
To be eligible, you are required to
1. Have a registered company and operating in Singapore
2. Have at least 30% local shareholding
3. Be in a financially viable position to start and complete the project.
What does it mean by "Be in a financially viable position to start and complete the project"?
Based on our previous experience with CDG, a company should have a reasonable amount of turnover for the past three years.
Is there a minimum annual turnover?
Based on our previous experience with CDG, a working hypothetical figure should be at least S$500k.
So, are startups eligible for EDG?
In general, startups are not eligible for EDG. If you are a startup, you can look at the ecosystem meant for startups: Startup SG network.
Is there a minimum employee size?
Our experience tells us that it should not be zero. And the project sum must justify the size of the company. A good number should be 3 employees and they should not include directors, partners or owners.
How long does a typical EDG project take?
Depending on the scope of your project, the timeline could range from 4 to 12 months. This includes time to establish proposed objectives and conduct research. Our typical branding project takes about 6 to 9 months.
What do you mean by certified consultants?
From 1 January 2017, if you engage consultants, they need to be certified management consultants. SMEs should ensure that consultants involved in EDG must possess Enterprise Singapore-recognised certification; failing which Enterprise Singapore reserves the right not to support the consultancy fees incurred.
Are Firefish consultants certified?
Yes! Consultants from Firefish are certified and accredited by TÜV SÜD PSB and recognised by Enterprise Singapore.
Is the application process easy?
The application process is not particularly onerous. You can easily apply EDG at Singapore Business Grants Portal.
How is the application process like?
We have created an EDG Walk-through so that you will understand the process and requirements better. Click here to view the entire EDG Walk-through.
It looks complicated. Can you help us fill the application form?
If you have officially appointed us as your consultant, we are more than happy to guide you along.
What other supporting documents do we require for the application?
You need the following:
1. Your project proposal
2. Latest ACRA search results
3. Latest audited financial statement
2. Our consultant's proposal and
3. Our consultant's certifications.
Can you help us write the project proposal?
If you already appoint us as your consultant, we will write the project proposal for you.
How long do I have to wait to know the results of my application?
There is no fixed timeline. Enterprise Singapore estimates 2 to 3 months at the present moment. Do understand Enterprise Singapore is running a lean team to handle EDG.
Can I start on an EDG project whilst applying for EDG?
No.Enterprise Singapore insists that your project cannot commence before your application has been approved.
What does it mean?
It means that you should not have already begun on the project before your application has been approved. Neither should you have made payment to service providers or suppliers involved in the project.
Can I claim Productivity Innovation Credit (PIC) together with EDG?
No. PIC has officially ended.
Do you help us to do claims?
After you engaged our consultancy services, we will advise you accordingly how to make a claim.
How can Firefish help us with EDG?
We will guide you through the entire process step by step.
What does Firefish actually do?
Good question. Our core businesses are in branding and marketing. However, we have expanded our in-house capabilities to include automation projects (mainly customised enterprise-level IT solutions) and human capital development.
How many EDG Grants can I apply for?
In theory, there are no restrictions on how many EDG Grants you can apply for. However, as a guideline, ESG allows only one EDG project at any given time. And you can only apply for an EDG grant in a specified area once. This means that if you are awarded an EDG grant for Branding and Marketing once, you are no longer eligible for another EDG grant under the same category that is Branding and Marketing. However, you can still apply for EDG grants under other areas.
What is Productivity Solutions Grant (PSG)?
Productivity Solutions Grant (PSG) is a grant that supports Commercial Off-The-Shelf Solutions (COTS). Basically, COTS are more affordable and require little or no customisation work. It covers up to 70% of the solution cost. Click here more information about PSG. If COTS do not meet your needs and you require a bespoke solution for your business, do contact us!
Where can I get the latest updates on EDG?
The latest information can be found on Enterprise Singapore's website.
Where can I apply EDG?
Similar to CDG, you can apply EDG at Singapore Business Grants Portal.
Can I talk to someone regarding EDG?
On first base, you can either reach out to certified consultants (like us) or SME Centres. We are more than happy to help and answer all your questions regarding EDG. Just fill in the form below.
Still need advice on EDG?
EDG (Enterprise Development Grant) is administered by ESG (Enterprise Singapore).
All information herein is subjected to change.
EDG grants are subjected to approval by EDG.