• What is the Technology Enterprise Commercialisation Scheme? Can small and medium-sized enterprises apply for it?

The Technology Enterprise Commercialisation Scheme, or TECS, is a new scheme under Spring Singapore's Technology Innovation Programme.

Developed with the support of A*Star, National University of Singapore, Nanyang Technological University and the National Research Foundation, TECS provides funding for enterprises and entrepreneurs keen to commercialise their research and development concepts and proprietary intellectual property (IP).

There are two types of funding that technology enterprises and entrepreneurs can tap.

The first phase is called proof of concept. A full grant of up to $250,000 is provided to help enterprises and entrepreneurs develop new 'quantum leap' type of technologies that have technical feasibility and commercial potential.

The second phase is known as proof of value. An 85 per cent grant of up to $500,000 is provided to finance applicants keen to carry out further research on a technology project, including the development of a working prototype.

This project must be based on a proprietary IP technology that has successfully demonstrated proof of concept.

There will be a call for proposals once every six months.

The first call for proposals began on April 17. The deadline for submission is June 30.

Applicants may submit proposals for both the proof of concept and proof of value phases.

Shortlisted applicants will be informed within six to eight weeks after the closing date for submission.

This article was first published in The Straits Times on May 21, 2008

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