Yes. Singapore offers a wide range of grants and tax incentives for new and growing businesses, administered mainly by Enterprise Singapore and IRAS.
Common options include the Startup SG family of schemes (such as Startup SG Founder, which provides a capital grant and mentorship to first-time founders), the Productivity Solutions Grant (PSG) for adopting pre-approved digital solutions and equipment, the Enterprise Development Grant (EDG) for capability upgrading and market access projects, and the Market Readiness Assistance (MRA) grant for overseas expansion.
On the tax side, the Enterprise Innovation Scheme (EIS) gives enhanced deductions for qualifying research and development, intellectual property and training expenditure. The EIS replaced the older Productivity and Innovation Credit (PIC) scheme, which lapsed after the Year of Assessment 2018 and is no longer available. New companies may also qualify for the Start-Up Tax Exemption (SUTE) for their first three Years of Assessment.
Support levels, caps and qualifying conditions change from time to time, so confirm the current terms with Enterprise Singapore or IRAS before budgeting. Apexia can identify which grants and incentives your business qualifies for and help you apply.