Innovation & Capability Voucher (ICV) – $10K for Solutions!

Compared to the PIC, the ICV is a simple to apply, easy-to-use voucher valued at $5,000, to encourage SMEs to take their first step towards capability development. SMEs can use this voucher to upgrade and strengthen their core business operations through consultancy projects in the capability areas of innovation, productivity, human resources, and financial management.

SMEs can apply for ICV if they meet these criteria:

  • Registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Have annual group turnover of not more than $100 million OR group employment size of not more than 200 employees

Each SME is eligible to apply a total of 8 vouchers. For consultancy projects, an SME may apply for two vouchers per capability area and for productivity solutions, you can apply for two vouchers.

Each of the ICV vouchers must be utilized before the submission of the next application, and the duration of a project should not exceed six months.