For who?

• All Singapore-registered small and medium enterprises (SMEs) who want to use technology to develop and test their innovative ideas.
  
  
• Your business qualifies 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 service sector)*
  • your operation is physically present in Singapore

*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 the shareholding in a subsidiary company.

For what?

• To encourage SMEs to tap on the extensive engineering and resource base of knowledge institutions (KIs) to innovate and implement technology projects.
  
  
• IVS also promotes collaborations between the KIs and SMEs to facilitate knowledge transfer and innovation of projects.
  
  
• Each KI has different technical expertise and areas of focus. You are encouraged to contact the KIs directly on the specific services and projects that can be carried out prior to your application for IVS.

  See:	List of Participating Knowledge Institutions

How much?

• You can apply for an innovation voucher worth S$5,000 from SPRING Singapore to pay for consultancy and technology services at participating KIs.
  
  
• If the cost incurred is more than S$5,000, you are required to top up the additional amount. If the cost incurred is lower than S$5,000, the unused amount will not be refunded.
  
  
• You can also pool your voucher with other SMEs (up to a maximum of 10 SMEs) for a collaborated project if there are synergies or economies of scale. However, you are advised to consult the relevant KI on such feasibility.
  

Things to note

• There are 3 calls for application per year. For each call, an estimated of 200 vouchers will be issued to eligible applicants.
  
  
• The call schedule for 2010 is:
  
  
  1. 7 April 2010 – 6 May 2010
  2. 16 July 2010 – 13 August 2010
  3. 11 October 2010 – 10 November 2010
  
  
• All applications must reach SPRING Singapore before the closing date of each application call.
  
  
• The technology services applied under IVS should preferably be related to your current business activities and should also fall within the scope of expertise available in the KIs.
  
  
• You should understand your obligations for participating in IVS and the terms and conditions regarding the usage of the voucher. Learn more about the details on SPRING’s website.
  

For more info

Innovation Voucher Scheme (IVS)
SPRING Singapore