Innovation and Capability Voucher (ICV)

The Innovation and Capability Voucher (ICV) encourages businesses to update their capabilities in the areas of Human Resource, productivity, financial management, and innovation. This grant is valued at $5,000 to fund professional fees to establish different policies, systems, and processes. Each business receives eight vouchers. To acquire a new voucher, businesses need to complete the project within six months. The ICV service includes:

• Organizational diagnosis to determine strengths and weaknesses

• Introduce and implement essential HR systems

• Understand customers and ensure processes and policies are aligned to benefit them

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• Registered and operating in Singapore

• At least 30% local shareholding

• Group annual sales turnover less than S$100m or less than 200 employees