extralargetech
Tech Blog

The Importance Of R&D Grant In Building A Nation’s Economy

Singapore is a country where Research and development programs have a lot of support from the government. Research and development play a key role in the country’s economy. The government always welcomes foreign collaboration on the grounds of research and development. One such R&D collaboration is with Israel. The r&d grant in the form of SIIRD or Singapore Israel Industrial Research and Development Foundation funds up to one million US dollars for companies based in Singapore and Israel.

How to get an R&D grant for industrial research and development collaborations

  • The application has to be jointly filed by both the companies at home and overseas
  • The company should not hold more than a 20% partnership stake in either of the partnering company
  • At least 30% of the actual research should be done in both countries respectively
  • The developed technology and product should have the potential for commercialization

If you are an interested company in either Singapore or Israel you can contact SIIRD managers in your respective countries.

The importance of research and development grant

The research and development grant that a company gets from the government is an important element in any ongoing research and development project. Here are a few projects that you can get an r&d grant for:

  • Industrial sectors working on projects for increasing energy efficiency
  • Projects related to a feasibility study
  • Projects relating to the development of prototypes
  • Collaboration with other companies either inside or outside the country in the research and development sector
  • Academic research can also find attractive grants

With all these potential fields the research and development have a lot to look forward to. Making your research and development sector strong can have a positive impact on any country’s economy.

Comments are closed.