Innovation & Capability Voucher (ICV)
Published by SPRING Singapore
on 08 Mar 2018
Innovation & Capability Voucher at a Glance
The Innovation & Capability Voucher (ICV) is a simple to apply, easy-to-use voucher valued at $5,000, to encourage SMEs to develop their business capabilities.
SMEs can use the voucher to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources and financial management. Apart from consultancy, ICV also supports SMEs in the adoption and implementation of pre-scoped Integrated Solutions to improve business efficiency and productivity.
Each SME is entitled to a maximum of eight vouchers. Each ICV project must be completed before the submission of a new application. The duration for each project should not exceed six months.
All local SMEs can apply for ICV if they meet the following criteria:
- Registered and operating in Singapore
- Have a minimum of 30% local shareholding, and
- Have group annual turnover of not more than S$100M OR group employment size of not more than 200 employees
- Apply online via the ICV Online Portal (Best viewed with Microsoft Internet Explorer 7.x, 8.x and 9.x).
- Please visit www.spring.gov.sg/ICV for more information on the required documentation.
- All users will have to use the Singapore Corporate Access (CorpPass) to access the ICV Portal. This transition onto CorpPass will give companies greater control, security and efficiency for their corporate online transactions with the government. More information about the CorpPass and how companies can apply for it is available at www.corppass.gov.sg.