The Singapore Innovation and Capability Voucher (ICV), an initiative by SPRING Singapore, aims to encourage more Singapore SMEs to enhance their capabilities by upgrading in four areas – innovation, productivity, human resources and financial management.

The ICV is a S$5000 voucher offered to help SMEs pay for services in these areas and has replaced the Innovation Voucher Scheme since 1 June 2012.

A voucher can be used to redeem one supported service only and each project, which should not exceed six months, must be completed before a new application will be considered. A Singapore SME may apply for 2 vouchers per area.

All SMEs which meet the criteria below are welcome to apply:

• Located and registered in Singapore
• At least 30% local shareholding
• Group annual sales of not more than S$100 million, or group employment size of not more than 200 employees
• All applications must be submitted through the ICV Online Portal and applicants will know of their results within two working days.

Scope of Supportable Services

• Innovation
• Productivity
• Human Resources
• Financial Management

For more information in the ICV, kindly visit www.smeportal.sg.