SME Go Digital grant to transform your business

SME Go Digital grant

SME Go Digital grant for Singapore Business in 2019

SME Go Digital grant was announced in 2017, with a budget of 80 million to be injected into the scheme for over 4 years. The grant purpose to grooming SMEs to develop their technical competencies. It serves as a roadmap for the digital transformation of the country and consisted of several components which include, cybersecurity, data analytics, data protection and etc.

Leoacle Consulting has been working with various businesses on digital transformation by providing them insights on the requirement. Digitalisation is a complicated task and many potential problems could arise from the gaps. Interested parties should work with a qualified digital business consultant to avoid complications. Contact us for a discussion to know more.

What is SME Go Digital grant?

This is an initiative from the Singapore government to help local companies to improve their business capabilities by leveraging on technology. The scheme subsidies part of the cost for acquisition, training and consulting. Applicants would have to work with pre-selected vendors on the implementation.

Depending on the current level of technical competencies in the company, and skillsets. SME Go Digital was designed to meet the needs of small business. This scheme supports 4 different categories each design with a different focus. Summary of the scheme could be shown from the chart below.

SME Go Digital

SME Go Digital grant evolved from a previously known ISprint scheme. Originally, it consisted of several pre-approved software packages segregated for various business and industry vertical. Now, the scheme is streamlined with support from IMDA and Enterprise Singapore. The coverage had expanded to include more activities including consultancy, training and project management.

4 categories supported under SME Go Digital grant

1. Industrial Digital Plan (IDP) – Guide on digital solution and training for each stage of business growth. IDP would provide a recommendation on information technology software and infrastructure road map for the industry and development from phrase to phrase. 

It consists of a series of road map for different industries. You could explore more about them from the link given below.

It is interesting to note that above all the industries given above, the Wholesale industry has interesting attention. According to IMDA release, there are signs and hints given on creation of B2B market place. Currently, there is a release of B2B seafood e-market factsheet. You could expect more B2B effort soon but personally, I have mixed feelings on this national platform. Small business usually can’t survive in marketplace because it’s a slaughterhouse. Its good for the end consumer but not the middle tier re-sellers.

2. Pre-approved Solutions – Pre-approved software solutions package for purchase with up to 70% support on purchase. Due to this reason, ISpring from IMDA and ICV from Enterprise Singapore streamline into one scheme knows as the Productivity Solutions Scheme (PSG). You might want to find out more about the scheme address in another section of this website.

3. Consultancy Services (SME Digital Tech Hub) – Expert advice from experience tech consultants to deep dive into the business need for digital transformation. They are equipped with a wide spectrum of knowledge in digital technology. You might want to have a discussion with them to understand the technology landscape before embarking on any project.

4. Project Management Services Working with project managers with expertise to support the implementation of technology. Project managers have two roles in assisting the respective businesses.

  • They would certify, train and mentor experience Professionals, Managers and Executives (PMEs).
  • Works with businesses to implement pre-approved software.

This makes me wonder how hard it could be to install a software. Since this is a scheme to help businesses with no information technology backbone. Likely, the assistance is provided for companies with no tech competencies.

Conclusion on SME Go Digital grant

This a good imitative created to help businesses to create a technology backbone for the company. It is best suit for business without any tech knowledge. Companies with IT managers would likely not required most of the assistance offered.

If you have some basic level of tech knowledge and would like to implement you own digital transformation. You could still utilise the resources below.

Enterprise Development Grant (EDG)– funding up to 70% project cost for customerised digital information technology solution. It was formerly know as Capability Development Grant (CDG).

Productivity Solutions Grant (PSG) – the scheme funds up to 70% for pre-approved solutions. You could find the latest listing from Tech hub.

Government grants for Singapore business – a directory for this existing page where you could learn more all about the grants.

What is your digital transformation strategy?

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Contact us to find out more SME Go Digital grant

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