Innovation and Capability Voucher (ICV) is a simple to apply, easy-to-use voucher valued at $5,000 voucher to encourage SMEs to take their first step towards capability development. SMEs can use the voucher to upgrade their core business operations through consultancy in Innovation, Productivity, Human Resources and Financial Management.
Each SME is entitled to a maximum of eight vouchers. Each ICV project must be completed before submitting a new application. The duration for each project should not exceed six months.
Consultancy Projects – Human Resources
For consultancy projects, each voucher worth $5,000 may be redeemed for consultancy services from participating Service Provider. SMEs can redeem a $5,000 voucher from SPRING Singapore to fund 100% and fully pay for consultancy services of Service Provider.
For Human Resources, SMEs can apply and use 2 vouchers worth $10,000 to attract, hire and retain the best talents and develop their structures, systems, policies, processes and programmes aligned with best practices in the industry.