Mark Roemer Oakland believes that certain similarities and differences between CDG and EDG are essential for you to know. The blog will help you get precise details of both. The points mentioned below will help you understand the required details about CDG and EDG:
- CDG- CDG stands for Capability Development Grant, and it is a financial assistance program. The program is managed by Enterprise Singapore, and it came into existence by the merger process between SPRING and IE Singapore. The program is meant for helping Small and Medium Enterprises (SMEs). For instance, it may help you boost your company’s capabilities by improving the ten key areas. The qualified projects can get around 80% funding under this process.
- EDG- In the year 2018, CDG was replaced by EDG. EDG stands for Enterprise Development Grant (EDG). It was initiated on 25th October 2018, and it may help your companies upgrade their capabilities, internationalization, and innovation. It supports their companies in their growth journey through the development of capability and internationalization by supporting the core capabilities. Their specialization lies in taking care of innovation and productivity. Also, they have a third pillar involved in the process- Market Access.
- Differences and similarities between CDG and EDG- There were two different programs before 2018- CDG and GCP. CDG helped companies in their capabilities, and GCP helped in terms of internationalization. However, in 2018, these two grant programs were merged as EDG that supported both capabilities and internationalization of the companies. Also, it added supporting areas of innovation and productivity. So, this is how both CDG and EDG are different from each other. To speak about similarities, both CDG and EDG support the company’s capabilities.
- Key business areas of CDG and EDG– Before EDG came into force during the year 2018, CDG dealt with around ten key business areas that included business excellence, branding, and marketing, financial management, human capital development, etc. On the other hand, EDG has three pillars: core capabilities, innovation, and market access.
- Eligibility of CDG- As the program was replaced by EDG in the year 2018, and therefore, it is no longer valid, and you cannot apply for this grant.
- Eligibility of EDG- To be eligible for this grant, your company must be operating in Singapore and have a local shareholding of at least 80%. Also, it must be financially stable to start and complete the project.
- EDG funding amount- EDG can help SMEs with up to 80% funding, and for non-SMEs, the limit is up to 60%.
According to Mark Roemer Oakland, it will be of great help if you clearly understand the points mentioned above before you apply for EDG. When you apply for the grant, your application may take around 8 to 10 days to be accepted by the Singapore Enterprise. Even if it is not accepted, you will receive feedback. Your application may be rejected if it lacks clarity, or the process requires additional steps.