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What is Productivity Solutions Grant (PSG)
In today’s rapidly changing business environment, companies are realizing that evolving with technological advancements is essential for survival. Business owners understand the need to accelerate their digital and security transformations but often struggle with where to begin.
The Productivity Solutions Grant (PSG) supports companies eager to adopt IT solutions and equipment to enhance their business processes.
While technological growth has significantly impacted our lives, it has also exposed businesses to serious risks. Increasingly, business owners recognize their vulnerability to phishing, ransomware, and other security threats but are unsure how to address these issues. Additionally, they need to conserve cash to navigate uncertain times.
SMEs are eligible for up to 50% Productivity Solutions Grant (PSG) support for the adoption of Cyber Security, a Pre-Approved Solution under the IMDA SMEs Go Digital programme.
Benefits of Cyber Security Solutions
In today's changing business environment, businesses are realizing that the only way to survive is to evolve with the technological changes. Business owners understand the need to accelerate their digital and security transformations. They often just don’t know where to start. While the growth and development of technology have changed so much of our lives, the fact remains that it has also put businesses at serious risk. Increasingly, business owners recognize that their businesses are vulnerable to phishing, ransomware, and other security threats. But again, they aren’t sure what to do about it. But we all know that they need to conserve cash to weather uncertain times.
What Is Managed Detection and Response (MDR)?
Managed Detection and Response (MDR) refers to outsourced cybersecurity services made to safeguard your data and assets even in the event that a threat manages to get past standard organizational security measures. For businesses that are unable to maintain their own security operations center, cloud-managed security is frequently included in an MDR security platform, which is regarded as an advanced security control. Advanced analytics, threat intelligence, and human expertise in incident investigation and response are all combined in MDR services, which are deployed at the host and network levels.
The Productivity Solutions Grant (PSG) was launched on April 2018 to help businesses enhance their processes with technology.
It provides financial support for business owners to adopt pre-scoped IT solutions, equipment and consultancy services to improve productivity. These solutions are aligned to the industry roadmaps such as the Industry Transformation Maps (ITMs) and Industry Digital Plans (IDPs) (https://www.gobusiness.gov.sg/productivity-solutions-grant/)
Companies who meet the following criteria are eligible to apply:
- Registered and operating in Singapore:
- Purchase/lease/subscription of the IT solutions/equipment/consultancy service must be used in Singapore
- Minimum 30% local shareholding
- Company’s Group annual sales turnover not more than S$100 million; OR
- Company’s Group employment size not more than 200 workers
PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, and construction industries. PSG also supports the adoption of generic solutions such as in areas of customer management, digital marketing, sales management and inventory tracking. Thus, all industries can apply.
1. Choose your suitable solution package.
2. Get a quotation from us.Submit your application on the Business Grants Portal (BGP).
(Note: You need a Corppass account with appropriate BGP e-service role to access Business Grants Portal.)Wait for approval and letter of offer.
- Get a quotation from VGC Technology (pre-approved vendor – PSG Cyber Security ) through the contact information of the selected solution(s).
- Submit an application on the Business Grants Portal. You will need to register for a CorpPass account to transact on the portal.
There are several standard package options to suit your needs!
