The EDG’s contribution to Singapore’s economic growth
Key objectives
The Enterprise Development Grant (EDG) does more than just provide funding—it supports a vision. Its mission? To foster growth, innovation, and transformation among Singaporean businesses, with a focus on three key pillars:
- Strengthening core capabilities: The EDG aims to help businesses build essential capabilities such as financial management, business operations, human resource planning, and strategic development. By investing in these areas, companies can enhance operational efficiency, boost productivity, and become more resilient in the face of market challenges.
- Driving innovation and productivity: The EDG encourages businesses to innovate and embrace advanced technologies to improve productivity and competitiveness. This can include developing new products and services, automating workflows, streamlining operations, and enhancing overall efficiency. The goal: staying competitive in a fast-moving world.
- Supporting international expansion: By helping companies grow beyond Singapore’s borders, the EDG strengthens the nation’s global presence and promotes international trade. This may involve exploring new markets, forming overseas partnerships, and developing export strategies.
By pursuing these objectives, the EDG aims to create a growth-friendly environment for Singaporean businesses while contributing to the nation’s economic prosperity and sustainable development.
Benefits & eligibility criteria
The EDG offers financial support of up to 50% for SMEs— with sustainability-related projects eligible for up to 70% support from April 1, 2023, to March 31, 2026. This represents a significant opportunity for Singaporean businesses. It's also worth noting that lower-cost projects may qualify for partial government funding. This financial assistance can be applied to a wide range of initiatives, including innovation, digital transformation, international expansion, and the strengthening of operational capabilities.
With the support of the EDG, businesses can access funding to invest in their growth and development. However, to qualify for this assistance, companies must meet specific eligibility criteria:
- Be registered and operating in Singapore: demonstrates a strong commitment to the local market
- Have at least 30% local shareholding: ensures a meaningful level of local involvement and contribution to the national economy
- Be financially prepared to start and complete the project: shows the company’s ability to manage the financial resources needed to carry the proposed initiative through
Captivea offers its expertise by assisting clients in preparing the required documentation and writing EDG applications—ensuring maximum government support for their projects.
ERP integration: a project eligible for EDG support
Implementing an ERP system like Odoo under an EDG-supported project provides a comprehensive solution for managing business operations. Odoo, as an all-in-one ERP platform, offers a wide range of modules, including:
Its integration helps businesses streamline operations, automate processes, and enhance overall efficiency.
Moreover, Odoo aligns perfectly with EDG objectives—supporting businesses in strengthening core capabilities, driving innovation, and enabling international expansion. By using Odoo, businesses can streamline their operations, boost productivity, and access real-time information to make better, more informed decisions.
Integrating an ERP like Odoo with the support of the EDG presents a strategic opportunity for Singaporean businesses to thrive in a constantly evolving commercial landscape.
To fully take advantage of this support and receive expert guidance in implementing Odoo—while ensuring optimal government backing for your projects—trust Captivea’s expertise. We’re here to help turn your business vision into reality.