Productivity Solutions Grant (PSG)
Published by Enterprise Singapore
on 29 Nov 2019
Technology is not about fancy and expensive high-end solutions. You can kick start your technology journey by taking simple steps to automate existing processes and improve productivity. The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.
For a start, PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries. Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.
These solutions have been pre-scoped by various government agencies - Enterprise Singapore and National Parks Board (NParks).
With up to 70% funding support, PSG serves as an avenue for companies to make long-term technology investments. The list of readily adoptable solutions can be found on Tech Depot.
Productivity Solutions Grant (SkillsFuture Training Subsidy)
From 1 July 2019, companies with approved Productivity Solutions Grant (PSG) applications can apply for the Productivity Solutions Grant (SkillsFuture Training Subsidy) [PSG (SFTS)] via the Business Grants Portal (BGP).
The subsidy, which is part of the enhanced PSG, allows companies to upskill employees and claim up to 70% of out-of-pocket training expenses, capped at $10,000 per eligible company. This is provided on top of existing government course fee subsidies, and in addition to the sector-specific grant cap for the PSG pre-scoped productivity solutions.
Companies have up to 31 March 2023 to submit their applications. For more information on PSG (SFTS) and the list of suggested training courses, please visit skillsfuture.sg/psgtrainingsubsidy.
Companies can apply for PSG if they meet the following criteria:
- Registered and operating in Singapore
- Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
- (Selected solutions only) An SME with minimum 30% local shareholding; AND Company's Group annual sales turnover less than S$100 million, OR less than 200 employees
Here are the steps you can take when applying for PSG:
- Visit Tech Depot on SME Portal to access the list of supportable solutions and identify relevant solutions that best suit your business needs.
- For IT solutions: get a quotation from the pre-approved vendor.
For equipment: source for the equipment and get a quotation from the vendor.
- Submit an application on the Business Grant Portal (BGP). You will need to register for a CorpPass account to transact on the portal.
If you would like to become a pre-qualified vendor for PSG IT Solutions, click here to find out more.