An initial $110 million will be set aside over the next three years for the new Productivity Solutions Grant (PSG), which supports selected productivity solutions in line with Industry Transformation Maps (ITMs).
For a start, the grant will cover sector-specific solutions in the retail, food, logistics, precision engineering, wholesale and landscaping industries, the Ministry of Trade and Industry said in a statement on Friday (March 2).
The grant will also support broad-based solutions that cut across industries, such as digital customer relationship management and human resource management systems.
"For businesses that want simpler solutions for improving productivity, pre-scoped productivity solutions are a tried and tested way to achieve quick results," said Senior Minister of State for Trade and Industry Sim Ann in her ministry's Committee of Supply debate on Friday.
Open to applications from April 1, the PSG initially combines three existing grants, with more to be added over time. These are Spring Singapore's Innovation and Capability Voucher, the National Parks Board's Landscape Productivity Grant, and the Infocomm and Media Development Authority's support for pre-scoped solutions under the SMEs Go Digital Programme.
The PSG provides funding support of up to 70 per cent. Grant caps have been raised and customised for each industry, said Ms Sim, without giving details.
The PSG supports IT solutions and equipment chosen by the agencies in charge of each ITM - for example, a digital ordering and payment system for the food services industry.
As more agencies put up solutions for support, the PSG will cover more items and sectors, such as tourism, agriculture and professional services.