EDG for Strategic Marketing Development
Grow and transform your business with the Enterprise Development Grant (EDG)
Get up to 90% of qualified project costs funded from now to 31 December 2020
Whether you’re planning to open a business in Singapore or operating a Singapore-registered company, staying afloat amidst the COVID-19 pandemic is necessary. Despite business disruptions, inevitable changes, and endless uncertainties, brands are still expected to provide excellent quality services. Retailers are still expected to give remarkable customer experience. To provide aid in these trying times, the government has introduced the Enterprise Development Grant (EDG) for strategic planning and/or marketing development.
- From 1 April 2020 to 31 December 2020, SMEs can expect to claim up to 80% of qualified project costs, while non-SMEs can claim up to 60%
- Businesses which have been severely affected by COVID-19 may receive 90% of funding support on a case-by-case basis
EDG for Strategic Branding and/or Marketing Development
Enterprise Development Grant (EDG) is a government program managed by Enterprise Singapore that helps businesses grow and transform by strengthening their business foundations, innovating processes and improving their overseas presence. By differentiating companies, products and services, EDG allows businesses to target the right audiences, improving productivity in the long run.
Scope of Work (Marketing Strategy Projects)
Perform market research to find out gaps in a company’s current marketing plan.
Gain customer insights and understand industry trends to develop a new and improved marketing strategy
Define market landscape position, unique value proposition and marketing objectives
Implement a strategic roadmap to better align the marketing plan
Scope of Work (Non-Supporting Activities)
Production of various corporate and/ or marketing collaterals, such as brochures, videos, websites, photography, stock pictures and copywriting
Implementation of marketing and PR campaigns
Retainer fees of consultants, advertising and media buys, engagement of social media influencers, management of websites/ social media platforms, Search Engine Optimisation (SEO), and Search Engine Marketing (SEM)
Businesses who are interested to apply for the Enterprise Development Grant (EDG) should meet the criteria below:
- Must be registered and operating in Singapore
- Should have a minimum of 30% local shareholding
- Financially capable to start and complete the project
Before submitting your application, make sure to approach SME centres to discuss your projects.
1. Choose the key project category you wish to apply for.
- Core Capabilities
- Innovation and Productivity
- Market Access
2. Find suitable providers to support your project. For companies applying for EDG support covering consultancy-related costs, they are required to engage management consultants with Enterprise Singapore-recognised certification.
Those who do not need to be certified are:
- Members/specialists in the consultancy team who do not perform management consultancy functions, but are involved in several tasks such as market research, audit, fieldwork, design/artwork, equipment installation and drafting of legal agreements.
- Consultants who provide technical advice and expertise in the development of new technology and solutions vendors.
3. The EDG only supports new projects that are not generating revenue during the grant application. Projects are considered to have started once:
- the suppliers and service providers have signed the contract
- any work on the project scope has begun
- payment for the project has been received
4. Prepare your project proposal along with the following documents:
- Latest ACRA search or instant information (dated no earlier than 6 months from the date of project application). Note: If there are corporate shareholders, make sure to provide the information for the corporate parents as well.
- Audited financial statements or certified management accounts for the last FY of your company
- Consolidated financial statements for the last FY of your ultimate parent company, if applicable.
- Relevant proof of quotation for the cost of your project items.
- For those projects where management consultants are engaged, include the consultants’ proposal detailing the scope of work, man-day rate breakdown of the service, as well as the CVs and scanned copies of Enterprise Singapore-recognised certification(s) of each consultant.
- With your CorpPass, sign in to Business Grants Portal.
- Applications are usually processed within 8 to 12 weeks from the date of submission.
- Once the application has been approved, you will receive your letter of offer (LOF) with the conditions of support and the amount of grant awarded.
- Acknowledge the receipt and accept the LOF within the date indicated.
Enterprise Singapore does not restrict the number of EDG applications per company. However, if you have already received approval for a project in a specified category e.g. Strategic Brand & Marketing Development, approvals for subsequent applications in the same category will be more stringent.
Do also note that Enterprise Singapore only allows you to apply and work on one EDG project at any given time.
Feel free to contact us. We will be happy to review your project brief, advise you on the business area that your project should fall under, and provide our recommendations on the next steps.
We are unable to apply for EDG on your behalf, but as your appointed consultant, we will be more than happy to guide you along.