The Productivity Solutions Grant (PSG) is a new government initiative to assist businesses in their transformation journey. An initial S$110 million will be set aside over the next three years (until 2020) for PSG to support selected productivity solutions in line with the Industry Transformation maps (ITMs).
PSG will cover sector-specific solutions in retail, food, logistics, precision engineering, wholesale and landscaping industries, as well as broad-based solutions that cut across industries, such as in areas of human resource management systems, among others.
As businesses transit into the next phase of transformation, more substantial investments and longer-term commitments may be required. Thus, PSG will support in the following manner:
Funding of up to 80% of the cost.
Pre-scoping of IT solutions and equipment with pre-qualified vendors
(for IT solutions).
Simplified grant processes.