Execute Your Innovative Idea with Company Incorporation Singapore

by Creative Ideas Business Consulting

Singapore offers a robust ecosystem favoring entrepreneurs and inspires them for company incorporation Singapore. There is no discrimination and the city state's attitude towards women entrepreneurs has earned it 5th position in WE Cities Index. The survey was conducted by Dell and revealed the importance of the role played by the women entrepreneurs in the field of innovation and job creation.

Singapore Business Ecosystem and Innovation Scene

Singapore witness thousands of new Singapore company registration each year. The authorities have always been focused on cultivating home-grown Small and Medium Enterprises (SMEs) and promoting digitization. Recently, they were urging the business owners for improving productivity and for upping the activities in the field of innovation to maintain country's competitive edge.

Are You Innovating? Arm Your Company Incorporation Singapore with Grants

However, it seems that all is not well on the innovation front, and Singapore companies are lagging behind in it. Some allege that the Singapore companies are not adaptive enough and have lost their ability to innovate. In response, the authorities have put in place programs, grants, and schemes to encourage businesses in this direction.

Technology and Innovation Grants and Programs in Singapore

The programs and grants are designed in such a way that even a new Singapore company incorporation with a game-changing idea can benefit from them. There is even an Innovation Grant for the research teams consist of faculties from Singaporean institutes, working on their ideas to make them suitable for the real world. Both, start-ups, as well as established companies, can benefit from the funding they can get by qualifying for one of the options presented below.

Capability Development Grant (CDG)
Early Stage Venture Fund (ESVF)
Proof-Of-Concept Grants (POC)
Technology Incubation Scheme (TIS)
Innovation Cluster Programme
ECDA Innovation Grant (IG)
Design Innovation Assistance (DIA)
Intellectual Property Management (IPM)
Patent Application Fund Plus (PAF Plus)
Creative Business Fund
Digital Content Development Scheme (DCDS)
Digital Technology Development Scheme (DTDS)
Film in Singapore! Scheme (FSS)
Innovation for Environmental Sustainability (IES)
Inter-design Development Scheme (IDS)
The Enterprise Challenge (TEC)
Technology Innovation Program (TIP)
Critical Infocomm Technology Resource Program (CITREP)
Infocomm Enterprise Program (iEP)
Operation & Technology Road-mapping (OTR)
Technology for Enterprise Capability Upgrading Initiative (T-UP)
Technology Pioneer (TechPioneer) Scheme

Favor Your Singapore Company Registration, Let Your Innovation Fail Early

The field of innovation is like being at a war-front. You cannot overload your soldiers and expect them to be agile. For the company involved, it is important to allocate the resources wisely so as to maintain the thrust of the work in right direction. All its efforts should be geared up to prototyping the idea and testing it in the real world. The benefit of this approach is that if an idea is unrealistic, it will fail early and the company can start with something better.

Don't Stunt the Growth of Your Singapore Company Incorporation

Do not commit too many resources to it, initially, or those involved will start checking and rechecking the facts too thoroughly, to justify the resources. They will start to fear failure, and it will certainly affect what they can do with the idea. It is good for an idea to fail early. It is better than toying with it which results in wastage of efforts and resources.

If you are running an existing business or are contemplating a company incorporation Singapore with the aim of coming up a game-changing innovation, you cannot be in a more suitable place. Singapore is favored by individuals and companies like you for its strictest IP (Intellectual Property) laws and the support from various entities. Make the best of the opportunity.