Are only SMEs eligible for the EDG Grant?
More often than not we receive enquiries from large companies, sometimes even listed companies, asking whether they can be eligible for the EDG Grant. The answer is, Yes!
Large companies are also eligible for the EDG Grant, even if you are not SMEs. For example, listed companies can also be eligible for the EDG Grant. However, regardless of the size, your company must fulfill the eligibility criteria for the grant. For large or listed companies, you would most likely face problems meeting the criteria to have at least 30% local shareholding. This is because large companies may have many shareholders from overseas, resulting in the company having less than 30% local shareholdership.
Also, larger companies tend to get lesser subsidy %, ranging from 10 - 50%, rather than the typical 60 - 80% range for smaller SMEs. However, don't be disheartened because even a 10% subsidy can be a good deal for a large company. Just think of it this way:
Scenario A: Large company applies for the EDG to adopt $1,000,000 worth of technology. Receives 10% subsidy = $100,000.
Scenario B: Small SME applies for the EDG to adopt $100,000 worth of technology. Receives 80% subsidy = $80,000.
Therefore, even though the large company only received 10% subsidy, it actually got $100,000 in cash subsidies compared to the small SME that had 80% subsidy.
With this in mind, you can be assured that the EDG grant will definitely help your company a long way regardless of the grant subsidy amount.