I have heard that a new category of Information and Communications Technology (ICT) has now been included in the Technology Enterprise Commercialisation Scheme (TECS). What funding is available and how do I apply?
SPRING is partnering Infocomm Development Authority (IDA) to expand the scope of the TECS to include ICT. The ICT is categorised into six areas:
Developed with the support of IDA, A*Star, National University of Singapore, Nanyang Technological University and the National Research Foundation, the TECS provides funding to enterprises and entrepreneurs keen to commercialise their research and development concepts and proprietary intellectual property.
There are two types of funding that technology enterprises and entrepreneurs can apply for:
The first type is Proof-of-Concept, which refers to the development of innovative technology ideas at the conceptualisation stage.
They are typically further away from the market and the inventor/scientist needs to demonstrate that the idea will actually work.
Up to 100 per cent of qualifying costs for each project will be supported, up to a maximum of $250,000.
The second type is Proof-of-Value, which involves further research and development on a technology project, up to the development of a working prototype, to demonstrate the viability of a technology idea.
The technology idea underpinning the project would already have been proven to work. Up to 85 per cent of qualifying costs for each project will be supported, up to a maximum of $500,000.
Other categories funded by TECS are:
Electronics, photonics & device technologies
Chemicals, materials science, nanotechnology
Biomedical sciences (excluding biotechnology)
The second call for proposals was opened on Oct 29. The deadline for submission is Jan 31, 2009.
Applicants are welcome to submit proposals for both Proof-of-Concept & Proof-of-Value stages in any of the categories highlighted above.
Shortlisted applicants will be informed eight to 10 weeks after the closing date for submission.
Interested applicants can apply online at http://www.spring.gov.sg/tecsportal
This article was first published in The Straits Times on December 31, 2008.
