iSprint – Technology Improvement Assistance Scheme
A project of the Infocomm Development Authority, iSPRINT (Increase SME Productivity with Infocomm Adoption & Transformation) is an initiative designed to encourage small and medium enterprises in Singapore to modernise and make technological upgrades to their facilities
The initiative provides grants to qualifying organisations that help to subsidise the initial costs of first-time computerisation and automation of processes. This can either take the form of packaged solutions (e.g. software packages and systems for the management of accounting and payroll) or the development of complicated bespoke solutions where packaged solutions are not suitable (such as customer relationship management or management and oversight of large and lengthy supply chains).
Upon approval of the grant by the Infocomm Development Authority, the company will be reimbursed up to 70 per cent of its qualifying expenses. Companies seeking to use the grant for the financing of pre-packaged solutions must choose from specified products and vendors under the following categories:
- Accounting & Payroll
- Customer Relationship Management
- Enterprise Resource Planning
- Events Management
- Fleet Management
- Healthcare Management
- Human Resources
- Integrated Point-of-Sales
- Resource Management
- Standalone Point-of-Sales
Customised solutions outside of these criteria must be approved by the Infocomm Development Authority. All grants for customised solutions are capped in value at S$20,000, except for integrated customised solutions which may require further development or re-engineering in the future which are not necessarily capped but will require regular review and approval by the Infocomm Development Authority.
Who is eligible for iSPRINT?
Small and medium enterprises registered in Singapore a number of criteria are eligible to apply for an iSPRINT grant. To qualify:
- A minimum of 30 per cent of your company’s shareholding must be local AND
- The annual sales turnover of your company group must be less than S$100 million OR
The employment size of your company group must be less than 200 personnel.
- Grants for customised solutions require that the project only begin after the approval is provided for the grant and that the project is for the purposes of competing first time automation of business functions carried out in Singapore.
What documentation is required for an iSPRINT grant application?
Companies are required to provide a number of documents to the Infocomm Development Authority as part of the application process. To ensure that the review process is completed in as timely a manner as possible, please ensure you have complete versions of the following:
- Latest ACRA business profile of Applicant Company
- Latest ACRA business profiles of corporate shareholders (applicable if corporate shareholders hold 20% or more of the total shareholding)
- Latest ACRA business profile of subsidiary company (applicable if Applicant Company holds 50% or more of the total shareholding)
- Audited financial statements of the Applicant Company for last two (2) years. Where audited financial statements are not available, a certified true copy of the management accounts of the Applicant Company for last two (2) years certified by a director of the Applicant Company must be provided.
- Audited financial statements of corporate shareholders and subsidiary companies for the last 2 years
- Completed iSPRINT Business Proposal/Project Plan
- Quotations from at least 3 different ICT (Information and Communication Technologies) Solution Providers
- Latest ACRA business profile of the appointed ICT Solution Provider