Singapore -- (SBWIRE) -- 08/08/2016 -- Singapore is a city-state with progressive leadership and this region is known for its support of the tech industry. If you're interested in the future of the tech sector within Singapore, you should know that the Research Innovation Enterprise 2020 Plan is going to be a reality. This plan was created in order to boost Singapore's tech industry and it will help innovators to bring new advancements from the lab into the marketplace. Perfect for small and medium-sized businesses, this new initiative is designed to promote better R & D, via a host of great programs, including grant distribution and other government-based assistance.
Small and medium-sized businesses need support and one aspect of this new initiative is the Innovation and Capability Voucher, which gets its funds from the SPRING Singapore board. The vouchers have values of up to five thousand dollars and selected companies may utilise them in order to access research and development-related services, which help them to refine their business processes and achieve their business goals. To qualify for vouchers, companies should have yearly turnovers of one hundred million dollars or less and have fewer than two hundred staff members.
Another facet of the program is the Capability Development Grant, which is available via SPRING. This will allow selected companies to access up to seventy percent of funds for help in specific areas, including intellectual property, tech innovations and franchise-related tasks.
R & D is quite expensive and that's why companies often need help in order to afford it. Since grants don't need to be repaid, they are effective solutions to the problem of paying for research and development. As you can see, this new initiative is designed to assist entrepreneurs and to helpSIngapore's tech companies reach new heights. Voucher amounts and grants are designed to help companies find new and innovative ways to use technology in order to offer products and services.
Now that you know more about these programs, you may want to find out more details about them online. It's possible to access lots of information about qualification criteria, as well as how to apply, just by doing a quick and simple Google search. Getting started is easy. You'll just need to know whether or not your small or medium-sized business is a good fit for this program.
SIngapore is a Land of Opportunity
Now is the right time to do business in Singapore. This liveable city-state is designed to provide a great environment for prosperity. For example, the city-state has one of the world's lowest crime rates and it welcomes investors from other places, while also supporting the needs of Singaporean residents. In addition, it has a great health care system and plenty of amenities and natural beauty.
If you want to make an impact in the tech sector, you'll find that doing so in Singapore makes sense. It's expected that many London-based tech companies will move their services to Singapore as a result of turmoil and complications from Brexit. So, this sector should continue to grow.
About Morris Edwards
Morris Edwards is a content writer at companyregistrationinsingapore.com.sg, he writes different topics like Government grants recommended for new startups, Singapore 2016 New Schemes To Help Workers Adapt To Changing Economy, Doing Business in Singapore and all topics related to Company Registration.
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