Be first out of the blocks with iSprint.
If you are facing the challenge of limited capital, deploying a new CRM system or any other technology to support your SME business can be a significant problem.
But if you a Singaporean registered company you could well be in luck, as the Singapore Government’s iSprint program is designed to help you.
You may be eligible under the Productivity and Innovation Credit (PIC) Scheme, for a government grant for packaged and customized software development.
Obtaining a PIC grant to deploy a new CRM system for your business could be just the assistance you have been waiting for!
Both Pay-per-Use and Off-the-Shelf solutions such as our Microsoft Dynamics CRM solutions are eligible for a $S 20,000 grant if your business meets the IDA’s criteria. The same applies for Enterprise Resource Planning (ERP) solutions to help your business.
Types of eligible solutions
There are two solutions categories that are eligible for iSprint grants; packaged solutions and customized solutions.
- Packaged solutions - Basic business functions solutions for Point-of-Sales and SaaS (Software-as-a-Service), Finance, Accounting and Payroll. The iSprint grant can be applied to the cost of the software the software cost, any subscription costs as well as the cost of training and consultancy services.
- Customized solutions – these refer to solutions that require extensive business re-engineering and first time system development. Both CRM (Customer Relationship Management) and ERP (Enterprise Resource Planning) systems come under this category. iSprint grants are available for related consultancy service fees and training costs. See the chart bellow for customized system grant availability.
What do I need to qualify?
As with any government grant there is a set of pre-conditions that you need to meet to qualify for an iSprint grant:
Here are the basic requirements but we would be happy to discuss these with you, when you are considering CRM or one of our other business solutions:
- Your business is registered or incorporated in Singapore.
- At least 30% of your shareholding is local AND your company’s group annual sales turnover is less than S$100 million, OR you have less than 200 employees*
- For customised solutions, the development must be for first time automation of business functions, carried out in Singapore and the project must not have started before the grant is approved.
* Group Tracing: All levels up for corporate shareholder(s) holding more than 50% of total shareholding of a company, and all levels down for subsidiary(s) where applicant holds more than 50% of total shareholding
If you would like to learn more about the Singapore Government’s Enhanced Productivity & Innovation Credit (PIC) Scheme you can do so in on page 14 of the April issue of SpringNews.
PIC’s primary purpose is stated as “To raise the productivity levels in Singapore, the government has enhanced the Productivity and Innovation Credit (PIC) Scheme to encourage local firms to invest in structures and processes which would lead to an increase in innovation and productivity.”
Key points to remember
- The grant is available until 31 March 2016
- You must apply for iSPRINT first and gain approval before you submit a PIC scheme application
- It can take up to six months to obtain your grant from the iDA – minimum of two months - so allow for this in your planning
- You will need to fill in a business proposal using the iDA’s template.
- You will need to provide three quotations from IT Solution providers such as ourselves
- Both you and we, as your chosen IT provider, have to submit the latest ACRA business profiles of our companies to the iDA at the time of application.
- To prove your financial viability and iSprint eligibility you will need to submit your audited financial statements from the past two years
- Step-by-Step guide on claiming for iSPRINT (Packaged Solutions)
- iSPRINT Funding For Packaged Solutions
- iSPRINT Funding For Customised Solutions
- ACRA Business Profiles
So contact Web Synergies about your SME business solution requirements. We can discuss your options and eligibility for the government’s iSprint scheme. email@example.com