Innovation & Capability Voucher (ICV)


The Innovation & Capability Voucher (ICV) is a simple to apply, easy-to-use voucher valued at $5000, to encourage SMEs to take their first step towards capability development. Each SME is entitled to a maximum of eight vouchers. SMEs can use the vouchers to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources and financial management.


Have a group annual turnover of not more than $100 million
OR group employment size of not more than 200 employees
Registered and operating in Singapore
Have a minimum of 30% local shareholding

9 Steps for applying and claiming

  • 1  Check for eligibility
  • 2  Share your requirements with us
  • 3  Do up Quotation for your project
  • 4  Submit Quotation in ICV Portal
  • 5  Obtain Approval letter
  • 6  Proceed with Project Commencement
  • 7  Completion of Project & Payment
  • 8  Submit required Documents together with Approval letter to SPRING
  • 9  Wait for re-imbursement