PRODUCTIVITY SOLUTIONS GRANT (PSG)
The Productivity Solutions Grant (PSG) is a government initiative to assist businesses in their transformation journey. As announced at Supplementary Budget 2020, PSG will be enhanced to encourage enterprises to continue their digitalisation and productivity upgrading efforts. The maximum funding support level will be raised to 80% from 1 April 2020 to 30 September 2021 to support selected productivity solutions in line with the Industry Transformation maps (ITMs).
PSG will cover sector-specific solutions in retail, food, logistics, precision engineering, wholesale and landscaping industries, as well as broad-based solutions that cut across industries, such as in areas of fleet management systems, among others.
PSG will support in the following manner:
- Funding of up to 80% of the cost;
- Increase in grant caps;
- Pre-scoping of IT solutions and equipment with pre-qualified vendors (for IT solutions); and
- Simplified grant processes.
Track 365 is a pre-approved vendor under the “Fleet Management System” category.
What is the grant amount for Track 365 System?
- 80% of purchased cost for SMEs
Who is Eligible?
Businesses who meet the following criteria can apply for PSG:
- Registered and operating in Singapore
- Purchase/subscription of IT solutions or equipment must be used in Singapore
- Have a minimum of 30% local shareholding (for selected solutions only)