Industry-wide Technological Infrastructure or Utility

The Industry-wide Projects track seeks to build industry-wide technological/ utility infrastructure and/or improve efficiency and boost productivity in the financial services sector.

Funding

Up to 70% of level of funding support for qualifying expenses.

Potential qualifying expenses include, but not limited to, the following:

    • a. manpower expenses (e.g. base salaries excluding bonuses and allowances);
    • b. professional services (e.g. consultancy expenses);
    • c. hard/software infrastructure and licences;
    • d. equipment and IP rights; and
    • e. capability transfer-related training costs (e.g. costs for engaging specialists to train locals, or sending locals for overseas training) where such training costs are not eligible for funding under existing grant scheme offered by IBF or government agencies. [New]

Eligibility

The scheme is open to Singapore-based financial institutions (FIs), market or professional organisations or associations, industry consortiums, and non-FI solution providers/companies

Assessment Criteria:

Proposed project should have at least one of the following attributes:

a. result in productivity gains or efficiencies to existing workflow and processes that results in either significantly greater turnover for existing market segments, horizontal expansion into new customer markets or vertical expansion into new product markets;

b. build technology or infrastructure necessary to develop Singapore as a forward-looking international financial centre;

c. address best practices or international benchmarks to advance Singapore’s competitive and leadership position; or

d. address any other industry-wide or national interest, in the area of technology and/or innovation.

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