I understand that there is a new technology scheme by Spring Singapore that can help me commercialise my research and development (R&D) ideas.

How can I find out more?

The Technology Enterprise Commercialisation Scheme (TECS) is a new scheme under Spring's Technology Innovation Programme launched in August 2006.

Developed with the support of the Agency for Science, Technology and Research, National University of Singapore, Nanyang Technological University and the National Research Foundation, the TECS will provide funding to enterprises and entrepreneurs keen to commercialise their R&D concepts and proprietary intellectual property (IP).

There are two different types of financing that technology enterprises and entrepreneurs can apply for:

The first type is Proof-of-Concept (POC).

We will provide 100 per cent grant support of up to $250,000 for enterprises and entrepreneurs for POC development of new 'quantum leap' type of technologies, which have technical feasibility and commercial potential.

The second type is Proof-of-Value (POV).

We will provide 85 per cent of grant support amounting up to $500,000 to fund applicants keen on carrying out further R&D on a technology project, including the development of a working prototype.

The project must be based on a proprietary technology IP which has successfully demonstrated POC. There will be a call for proposals once every six months.

The first call for proposals began on April 17 and will close next Monday.

Applicants are welcome to submit proposals for both POC and POV types.

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

Interested applicants can apply for the schemes online at www.spring.gov.sg/tecs

For inquiries, please visit www.business.gov.sg or e-mail enterpriseone@spring.gov.sg

This article was first published in The Straits Times on 25 June 2008.