What grants can a CNC business apply for with Singapore government?

In Singapore, the government offers various grants and support schemes to help businesses, including those in the CNC (Computer Numerical Control) machining industry, enhance their capabilities, innovate, and grow. In these article we have listed down the relevant grants and schemes that a CNC business can consider applying for in Singapore. However, if you are looking for a consultant then you can visit our CNC Grant page for professional assistance. 

Let's look at the relevant grants for CNC businesses in Singapore. MP Asia Engineering's team has come up with 10 different grants that can be suitable for CNC businesses. 

1) Productivity Solutions Grant (PSG)

• Purpose: Supports the adoption of pre-approved IT solutions and equipment to enhance productivity.

• Relevance: CNC businesses can use this grant to adopt automation equipment, software, or other productivity-enhancing technologies.

• Coverage: Up to 70% of qualifying costs for SMEs.

• Click Here to visit Productivity Solutions Grant official website

4) Innovation and Capability Voucher (ICV)

• Purpose: Provides funding for SMEs to build capabilities in areas like innovation, productivity, and standards compliance.

• Relevance: CNC businesses can use the voucher for consultancy services, training, or certification.

• Coverage: Up to S$10,000 per voucher.

• Click Here to visit the Innovation and Capability Voucher official website

5) CNC Programming and Setup

• SkillsFuture Enterprise Credit (SFEC)

• Purpose: Encourages employers to invest in enterprise transformation and workforce skills development.

• Relevance: CNC businesses can use this credit to offset costs for training employees in advanced manufacturing skills.

• Coverage: S$10,000 credit per SME.

• Click here to visit SkillsFuture Enterprise Credit

2) Enterprise Development Grant (EDG)

• Purpose: Supports projects that help businesses grow, innovate, or transform.

• Relevance: CNC businesses can apply for funding to upgrade machinery, develop new capabilities, or expand into new markets.

• Coverage: Up to 70% of qualifying costs for SMEs.

• Click Here to visit Enterprise Development Grant official website

3) Automation Support Package (ASP)

• Purpose: Encourages businesses to adopt automation technologies to improve productivity and reduce reliance on labor.

• Relevance: CNC businesses can use this to invest in advanced CNC machines or robotic systems.

• Coverage: Up to 70% of qualifying costs for automation equipment.

• Click Here to visit Automation Support Package official website

6) Market Readiness Assistance (MRA) Grant

• Purpose: Helps businesses expand overseas by covering costs related to market entry.

• Relevance: CNC businesses looking to export their services or products can use this grant for market research, overseas marketing, and business setup.

• Coverage: Up to 70% of qualifying costs.

• Click here to visit Market Readiness Assistance Grant website

7) Research and Development (R&D) Grants

• Purpose: Supports businesses in conducting R&D activities to develop new products or processes.

• Relevance: CNC businesses can apply for grants to innovate in areas like precision engineering or advanced manufacturing.

• Examples: IE Singapore R&D Grant, A*STAR Grants

• Click Here to visit A STAR Grants official website

8) Energy Efficiency Grant (EEG)

• Purpose: Encourages businesses to adopt energy-efficient technologies.

• Relevance: CNC businesses can use this grant to invest in energy-efficient machinery or systems.

• Coverage: Up to 70% of qualifying costs.

• Click here to visit Energy Efficiency Grant

9) Tech Depot by IMDA

• Purpose: Provides pre-approved digital solutions to help SMEs digitalize their operations.

• Relevance: CNC businesses can use this to adopt digital tools for inventory management, production planning, or customer relationship management.

• Click here to visit Tech Depot official website

10) Local Enterprise and Association Development (LEAD) Programme

• Purpose: Supports industry associations and clusters to drive sector-specific transformation.

• Relevance: CNC businesses can benefit from industry-wide initiatives supported by this program.

• Click Here to visit the LEAD Programme website

How do you apply for these grants? Visit the respective websites for detailed eligibility criteria and application processes. Engage with agencies like Enterprise Singapore (ESG), IMDA, or A*STAR for tailored advice. Consider working with a consultant to identify the most suitable grants for your business needs.

Or you can approach a private consultant that will charge you a consultation fee but they will get everything done for you from the start to end. MP Asia Engineering offers CNC Grants services for CNC Precision Engineering companies in Singapore. You can visit our Grants page for more information. You can also visit our About Us page for our company story & team. If you want to see our latest work please visit our Case Study page and for customer review you can visit our Testimonial page.

If you are more options in terms of vendors / consultants,  you can check out our article "Are there consultants to help CNC precision engineering companies do Singapore government grants?"

We hope you enjoyed reading this article. If you have any inputs on the content of this article feel free to email us at blog@mpasiaenigneering.com.

Best wishes from
MP Asia Engineering
Singapore

This article was written by
Nixon Selvakumar
Director

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