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ICV Scheme providing Funding Support up to $5000 for Upgrading Business Capabilities

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ICV Scheme providing Funding Support up to $5000 for Upgrading Business Capabilities

March 12
08:01 2015

Singapore, 09 Mar, 2015 – The ICV scheme or Innovation and Capability Voucher scheme lends a $5000 finding support for an increase in business capabilities. With this scheme coming into effect from 1st March, 2014, the total amount that has been set for ICV has increased to $42 million with a $10 million increase in government funding. Under this scheme, each voucher can effectively be used for engaging any participating service provider for assisting the company in four capability sections of productivity, innovation, financial management and human resource development.

As laid down by SPRING Singapore, the main reason behind the expanded scope of ICV is “SMEs might not require consultancy services for the diagnosis of an issue or purpose explanations and the expanded ICV would give the SMEs the flexibility of meeting business challenges by implementing solutions without facing any resource constraints. This would also help the SMEs in taking their very first step towards capability upgradation.”

Coming to the relevant and the dependable job being done by ICV Spring Voucher, it provides some general answers to the questions related to ICV Claim, ICV voucher and ICV Bonus. ICV Spring Voucher works in the form of an enterprise development organization supporting SMEs through the challenging task of increasing their productivity along with capability and innovation upgrading. Spring Voucher also supports collaboration effects of all local enterprises for driving mass adoption of several productivity initiatives for various sectors. At you will be able to get complete information about the requirements for claiming ICV, ICV eligibility, the work procedure of ICV voucher and ICV claim list.

All local media and small enterprises have the right to apply for ICV if they are registered and successfully operating anywhere in Singapore, have a 30% minimum local shareholding, have annual sales of $100M or a group employment size of less than 200 employees. SMEs looking for an easy and simple productivity solution, can apply for two vouchers maximum for the implementation of solutions. This can be done by the SMEs by directly applying with SPRING Singapore. SPRING Singapore supports the productivity solutions of the SME on reimbursement basis. The reimbursements, once approved, will directly be made to the SMEs.

It is important to note in this respect that purchases need to be made only after the indicated items or solutions are approved in the application. The supportable categories of cost that can easily be used with the help of the ICV voucher include technical training and solutions, hardware and equipment, renovation and design, HR systems and Payroll and CRM system. SMEs who want to get a reimbursement for their approved ICV projects need to have a business bank or corporate bank account. The entire process post approval gets completed within six months.

SPRING Singapore has direct contact with ICV SME Center agent and even possesses the information and the documents for guiding businesses with the process of claiming ICV on hardware and IT solutions qualifying for ICV qualified categories. SMEs can work in close collaboration with SPRING Singapore for building Custom IT solutions for their businesses by making use of ICV voucher.

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Media Contact
Company Name: ICV Spring Voucher
Contact Person: Max Chen
Email: Send Email
Phone: +65 82883810
Address:The Signature, 51 Changi Business Park Central 2 Level 04-05
Country: Singapore

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