ICV Funding

Innovation & Capability Voucher (ICV)

The Innovation & Capability Voucher (ICV) is a simple to-apply, easy-to-use voucher valued at $5,000, to encourage SMEs to develop their business capabilities.

SMEs can use the voucher to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources and financial management. Apart from consultancy, ICV also supports SMEs in the adoption and implementation of pre-scoped Integrated Solutions to improve business efficiency and productivity.

Each SME is entitled to a maximum of eight vouchers. Each ICV project must be completed before the submission of a new application. The duration for each project should not exceed six months.


For consultancy projects, each voucher worth $5000 may be redeemed for services from the participating Service Providers. An SME may apply for a maximum of two vouchers per capability area for supported services. SMEs who wish to further upgrade their capabilities in any of the areas may tap on the Capability Development Grant.

We are SPRING approved Human Resources & Productivity Service Providers.


  • Recruitment & Selection
  • Performance Management
  • Learning & Development


  • Business Diagnosis (SME Management Action for Results)


  • Registered and operating in Singapore
  • At least 30% local shareholding
  • Group annual sales turnover ≤ S$100m or group employment of ≤200 employees

To find out more information about ICV, click here.