SG EDG Innovation Grant Application Tips

Three Questions must be answered for SG Innovation Grant Application

EDG encourages companies to innovate and transform business to create a new business model or innovative products and processes. When SMEs apply EDG Innovation and Productivity grant, there are three most important questions must be answered in their grant proposals. They are:

1. Business Viability: expected business outcomes, current in-market competitors' products, pricing strategies, commercialization plans; 2. Technical Feasibility: company's track record and capabilities to handle the challenges of technology and to see through the project successfully; 3. Customer desirability: customer analysis to validate demand.

Business Canvas is a great tool helping answer these three questions - Here is an example of our customized Business Canvas for a novel disinfectant innovation project.

Besides these three most important points, the Business Canvas should also evaluate the risk, such as regulations, the customer segments, market size, price strategy, project benefits, etc.