SPRING Singapore has set aside S$5 million under this programme to increase the capabilities of enterprises providing medical technology over 3 years.

Higher funding support for enterprises to develop capabilities during the economic downturn is extended till 31 January 2011. Find out more about the changes.

Aims

• To encourage small and medium enterprises (SMEs) in precision engineering (PE) to capitalise on opportunities in the medical technology industry.
  
  
• To fund the development of new MedTech capabilities, products and services.

For who?

• All SMEs in the PE sector that are offering or wish to offer MedTech products and services.
  
  
• Your business qualifies as a SME if:
  
  
  • 30% - 100% of your shareholding is local
  • your group fixed assets are worth S$0 - S$15 million* 
  • you have 0 - 200 employees (for companies in the services sector)*
    
    * Computed on a group basis i.e. checking up to three levels for corporate shareholders holding 20% - 100% of the total shareholding in your company and one level down where your company owns 51% - 100% of shareholding in a subsidiary company.

For what?

• You can use MedTech CDP for:
  
  
  • Enterprise-Level Projects – projects that improve your business’ capabilities
    
    
  • Industry-Level Projects – projects with other businesses which improve collective capabilities
    
    
• Your project must result in:
  
  
  • new capabilities that significantly improve productivity and/or value-added per worker; and
    
    
  • significant contributions to the sector, e.g. upgrading to incorporate assembly capabilities to serve a variety of MedTech customers
    
    
• Projects supported by MedTech CDP include:
  
  
  • Process Improvement Projects
    E.g. Projects that improve the effectiveness or efficiency of processes such as Lean Manufacturing, Six Sigma, Statistical Quality Control, etc.
    
    
  • Product & Process Development Projects
    E.g. Projects to develop new and innovative MedTech products and manufacturing processes.
    
    
  • Strategic Partnership Projects
    E.g. Projects where a group of SMEs come together to offer bundled or collective services.
    
    
  • Certification Projects
    E.g. Projects to obtain certification for products/processes such as Food and Drug Administration certification.

How much?

• Up to 70% of qualifying costs for industry-level projects and enterprise-level projects.
  
  
• Qualifying costs include:
  
  
  • manpower-related costs 
  • equipment and materials 
  • professional services

Things to note

• Do not start on your project until your application has been approved by SPRING. Funding will not be given for on-going projects.

Background

• The MedTech CDP is the fourth CDP introduced. The 3 previous CDPs were for the Marine, Logistics and Food & Beverage (F&B) sectors.
  
  
• SPRING targets to generate S$300 million in new sales from medical technology over the next 3 years.

Changes from 1 February 2009 - 31 January 2011

• CDP is part of BUILD (Business Upgrading Initiatives for Long-Term Development) which helps businesses to strengthen their capabilities during the downturn for future growth.
  
  
• BUILD provides higher funding support to SMEs for all existing SPRING Singapore's capability development programmes. This applies to applications received between 1 February 2009 and 31 January 2011.

	Existing	Revised
Funding support for enterprise-level projects	Up to 50% of qualifying costs	Up to 70% of qualifying costs

For more info

MedTech Capability Development Programme (MedTech CDP)
SPRING Singapore

Officer-in-Charge

Mr Lee Wah Soon
Senior Manager
Precision Engineering, Industry Development Group
SPRING Singapore

Tel:  (65) 6279 3321
Email: lee_wah_soon@spring.gov.sg

Related Official Speeches

• Speech by Mr S Iswaran, Minister Of State for Trade and Industry, at the ministerial visit to Fong’s Engineering & Manufacturing Private Limited, 30 March 2007

Related Press Releases

• Polytechnics woo youths with promising engineering prospects, Ngee Ann Polytechnic Media Release, 12 October 2007