Singapore Government Grants
Grants that available to implement our HR system:
- Productivity Innovation Credit (PIC) – 60% Cash back capped at S100,000 per year or 400% tax deduction.
- MechC (Mechanisation Credit) – For Construction companies capped at S20,000
- ICV voucher – Capped at S5,000 per voucher.
- iSPRINT grant from IDA (Info com Development Authority) grant – 70% capped at S20,000
The Inland Revenue Authority of Singapore (IRAS) provides local companies a generous subsidy for the purchase of qualifying equipment and software that can help improve business productivity and enhance innovation. Companies can choose between three types of subsidy (shown below):
- 60% Cash Payout Option
- 400% Tax Deduction/Allowances
- Most small local companies will find the Cash Payout option attractive, since the subsidy is in the form of cash rebate. However, for the larger companies, the 400% tax deduction option or the tax deferral option may be more attractive.
- Tax Deferral Option
1. What is MechC ? – Mehc scheme helps to defray the cost incurred in technology adoption by companies to improve productivity for their construction projects – STT Cloud BAS (Biometric Authentication System) and online ePSS submission is eligible for MechC grant.
Innovation & Capability Voucher (ICV) will be refined to help SME adopt solutions that bring out holistic and significant productivity improvements to their operations.
- Equipment & Hardware
- Training & Technical solutions
- Design & Renovation
- CRM System
- Payroll & HR System such as Biometric Fingerprint, Face Recognition and others.
The iSPRINT (Packaged Solutions) grant applies to a list of pre-approved solutions.Small and Medium companies (SMEs) are encouraged to evaluate the infocomm packages from different vendors before making a purchase. Besides pricing, companies should consider critical factors such as the reliability of the vendor, how scalable are their solutions, how large is their install base and others.If qualified, SMEs can claim up to 70% of the qualifying costs for the purchase of the first packaged solution listed under each solution category.
The IDA iSPRINT addresses various areas of infocomm adoption for the SMEs, making it easy and convenient for Small to Medium Companies to seek for assistance and funding for projects that relate to infocomm adoption. It supports the packaged solutions pre-qualified by IDA and also customised solutions, as long as the project involves the use of infocomm technology to improve the company’s business operations, resulting in efficiency/ productivity, increased revenue or value-add for the business.
Enrich Innovations has a team of developers that are experts in providing consultancy for Open Source software and are vastly experienced in the Open Source Web Platform LAMP, which stands for Linux / Apache / MySQL / PHP Programming. Our company believes that for software to be fully utilized by your business, it has to be customized to your business process. Enrich Innovations thus focuses on the customized solutions portions under the IDA iSPRINT grant where applicants can apply under 2 tiers: In-Depth Customised Solutions that require extensive development efforts and business re-engineering (Which subsidises 70% of qualifying cost and no default cap limit (project cost will be on a case-to-case basis) We are proficient in creating implementing Open Source business applications and further customizing to tailor-make the application catered to your business process and requirements.