If you’ve ever had the chance of working on a start-up, there is a good chance you may already know about the value of getting funded. Actually, getting the adequate funding needed happens to be the biggest headache for most aspiring entrepreneurs. However, this doesn’t always have to be the case if you reside in Singapore since you can now take advantage of the CDG grant.
But how much do you know about this grant in Singapore? Is it even worth leveraging in the first place? Below are some of the things you need to know before you finally fill the application form and benefit from the CDG grant.
What is the CDG Grant?
Below going any further into the procedure for grant application, you need to have an insight into what you are dealing with in the first place. Capability Development Grant (CDG) is a financial assistance programme instituted by Enterprise Singapore. For those who may have no idea of what we are talking about, this is a statutory formed through the merger of International Enterprise (IE) Singapore and SPRING Singapore. This grant is specifically designed to position Small and Medium-sized enterprises in Singapore for the next phase of growth.
What Goes CDG Support?
As mentioned earlier, the CDG grant is aimed at improving your business capabilities in different key areas. Some of the most notable areas include branding and marketing, business excellence, financial management and standards adoption. It will also come to your aid whenever you want to optimise resource allocation, human capital development and product development. No wonder it continues to draw the attention of SMEs in Singapore.
While you may do everything it takes to increase your chances of getting the grant approved, you ought to keep in mind it no longer exists. Actually, the CDG grant was scrapped off on 24th October 2018 and the Enterprise Development Grant (EDG) was launched in place. Since you can no longer apply for the CDG, be sure to check out the eligibility criteria for the EDG instead.
Be sure to set aside some time and get more details on CDG grant to see whether or not it is worth applying for. Fortunately, you will never regret your application decision if the numerous benefits this grant has to offer SMEs in Singapore is anything to go by.
Lina Mark is the Partner and Editor-In-Chief at Keulj.us. She loves technology and is always hooked on new technology in the market. You will often find her browsing the web for interesting content (mostly sci-fi and tech). She is addicted to movies (mainly action) and loves to read interesting books every once in a while.