PRODUCT DEVELOPMENT
Projects under product development assist businesses in their innovation projects and product development process, with the eventual aim of pushing the product to market landscapes.
What Would A Product Development Project Look Like?
The project scope could include:
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Assistance in the design thinking process
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Conduct market research to determine the potential and viability of the product in the market
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Developing a strategic product roadmap to ensure effective commercialisation of the product
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Evaluation of Intellectual Property concerns
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After proof of product validation, assistance in the planning phase and prototyping phase.
What Does The Grant Not Cover?
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Development of the business' first product for commercialisation
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The development of products which do not require advanced technological innovation such as mobile applications, websites etc.
What Is The Support Level?
Up to 80% of costs for SMES and 60% of qualified costs for Non-SMES from 1 April 2020 to 31 March 2022.
*Overview For Project Application:
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You will need to submit a solid business plan that showcases sound financial management.
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It is preferred if you have a good plan for human capital development.
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A plan for your company's sustainable growth is ideal.
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A credible service provider &/or certified management consultant is required (with Enterprise Singapore-recognised Certification)
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Be prepared to submit documents such as your financial statements from the previous year.
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Application is to be done on the Business Grants Portal.
Drop us a message to find out more about the consultancy services provided. For more information about the grant application process, refer to our FAQ.