Eligibility Criteria for PSG Grant Application in Singapore

PSG Grant

The Singapore government has set up various grants and schemes to encourage and support businesses and individuals in their pursuit of innovation and growth. One of the most sought-after grants is the Productivity Solutions Grant (PSG). In this article, we will discuss the eligibility criteria for PSG grant application in Singapore.

Firstly, it is important to understand what the PSG grant is and what it entails. The PSG grant was introduced by the government in 2018 to help businesses adopt technology solutions and equipment to enhance their productivity and efficiency. The grant provides funding support of up to 80% for the purchase of pre-scoped productivity solutions. This means that businesses can receive up to SGD 30,000 per eligible solution for their project.

To be eligible for the PSG grant, the business must be registered and operating in Singapore. It must also have a minimum of 30% local shareholding, and the group annual sales turnover must not exceed SGD 100 million, or the group employment size must not exceed 200 employees.

In addition to these basic requirements, the business must also meet the following eligibility criteria:

1. The project must be related to the adoption of pre-scoped productivity solutions listed on the Tech Depot website or pre-approved by the Infocomm Media Development Authority (IMDA).
2. The business must not have purchased, leased or committed to purchasing the equipment or solution before the PSG application is approved.
3. The business must have the intention to implement the solution within 6 months from the date of approval.
4. The business must also provide the necessary documents, such as quotations, invoices and proof of payment, to support the project.

It is worth noting that there are certain solutions that are excluded from the PSG grant. These include solutions that are not pre-scoped, solutions that require customisation, solutions that are purely for entertainment purposes, and solutions that are already subsidised by other government schemes.

In conclusion, the PSG grant is a valuable resource for businesses looking to enhance their productivity and efficiency through technology adoption. Eligible businesses must meet the basic requirements of local shareholding and annual turnover or employment size, and must also meet the specific eligibility criteria outlined by the government. With careful planning and implementation, businesses can leverage the PSG grant to achieve their growth and innovation goals, and contribute to Singapore’s economic development.