The world of businesses is seeing a lot of newcomers lately. A majority of these are coming with innovative ideas that can alter the whole market. However, the fruitful ideas and potential entrepreneurs are more than what we see in the market itself. Many such talented individuals give up on their dreams just because they don’t have the needed investment. To tackle the issue of lack in funding, the CDG grant was introduced in the Singapore market.
What is CDG?
The CDG or Capability Development Grant is a scheme from the Singapore government aimed to help new projects by existing companies. The program was put forward to give financial support to many innovative ideas and individuals with excellent entrepreneurship skills. Over the years, many talented individuals made use of this program and built great companies from scratch. Although the scheme was later changed into EDG or enterprise development grant, the idea is still the same.
Who can get benefited from CDG?
The whole program was developed to aim the SMEs in the country. Small and medium enterprises are always seen as an essential part of the market. These organizations are considered a critical part of the economy. 70% of the total funding is given to eligible projects through this scheme.