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Innovation Commercialisation Scheme (ICS) |
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The Innovation Commercialisation Scheme (ICS) aims to encourage the development and commercialisation of innovations in Singapore by supporting proof-of-concept activities. The goal is to help validate and enhance innovations, leading to a vibrant community of companies with innovations developed, created and owned in Singapore.
ICS works by reimbursing up to 50% of the qualifying costs of supported projects, up to a maximum of $75,000. From November 2006, all ICS applications will be considered for the Enterprise Investments Incentive (Technopreneur) Scheme as well.
Eligibility:
Singapore-registered companies less than 3 years old are eligible to apply.
Grant Quantum:
Up to S$75,000 per project, or 50% of qualifying costs, whichever is lower.
Eligible Costs:
The following costs will be eligible for support:
(a) Manpower (up to 50%, excluding the salary of controlling shareholders);
(b) Equipment, Materials, Consumables and Software (up to 50%);
(c) Professional Services (up to 50%); and
(d) Intellectual Property Costs (up to 50%)
GST is not a supportable cost in all categories.
Commencement Date:
The project must not have commenced before ICS application. Only costs incurred after ICS application are eligible for support.
Length of Support:
Up to 18 months.
IP Ownership:
IP developed will be owned by the applicant.
Project Deliverables:
The outcome must be a prototype demonstrating proof-of-concept.
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