​​​​​​​​​​​​​​The Business Improvement Fund (BIF) aims to encourage technology innovation and adoption, redesign of business model and processes in the tourism sector to improve productivity and competitiveness.

ELIGIBILITY CRITERIA

The BIF is open to all Singapore-registered businesses/companies embarking on projects with a clear tourism focus.

These companies are:

  1. Tourism companies taking on capability development initiatives
  2. ​Technology companies that create innovative technology products and services for tourism businesses.

Proposed projects should fall under one of the following categories:

  • Enhancing Business Processes for Productivity

Supports improved productivity through automation, develop customised solutions, implement productivity diagnosis, streamline business processes and enhance workflow design and efficiency, or optimise resource allocation.

 

  • Service Excellence

Supports the review and/or design of service strategies and standards, and technological solutions to enhance customer service.

 

  • Product Development

Supports leveraging technology to develop innovative products and services for commercialisation​.

 

  • Financial Management

Supports development of financial management framework and strategy, or improve financial processes.

 

  • Human Capital Development

Supports businesses in strengthening HR capabilities to attract, develop and retain talent.

 

  • Branding & Marketing

Supports review, research and development of brand strategy or marketing strategy​.


CONTACT INFORMATION

​For more information or​ queries on the grant scheme, you may contact the STB Incentive Policy Department at STB_Incentives@stb.gov.sg.

For any feedback or suggestions, you may email the Quality Service Manager at STB_QSM@stb.gov.sg or leave your message here.

  

LEVEL OF SUPPORT

For Small Medium Enterprise (SME)[1]

Successful SME applicants will receive funding support of up to 70% of qualifying costs.

For Non-SME

Successful non-SME applicants will receive funding support of up to 50% of qualifying costs.

Funding support is awarded based on STB's evaluation of the scope and merits of the project.

Qualifying Costs

Include third-party project-related costs such as professional services, testing and certification costs associated with the development of the solution and delivery of products, processes, and services meeting the desired standards, training costs that are an intrinsic component of the project, hardware/equipment and software associated with proposed business concept or system/process redesign, and travel costs associated with the project; and internal manpower cost (only applicable for Product Development).​

Non-Qualifying Costs

Include hardware/equipment and software costs not related to the project (e.g. solutions for basic business functions), off-the-shelf packaged solutions, maintenance costs and marketing costs.


[1] At least 30% local (Singaporean or Singapore Permanent Resident) shareholding, and group annual sales turnover not more than S$100 million or group employment size not more than 200 employees.


APPLICATION EVALUATION

Proposed projects will be assessed on how they improve productivity and competitiveness of tourism companies.

APPLICATION PROCESS

Please note that projects that have commenced prior to STB’s offer of the grant may not be eligible.

Step 1: Pre-Application

​a.  Interested applicants are advised to provide an executive summary of the proposed project to STB_Incentives@stb.gov.sg. (Download executive summary template h​ere.)

b. ​An STB officer will be in touch to assist you further.

c.  The STB officer in charge of your project will advise you if your proposed project is eligible for BIF and to proceed with the application.

Step 2: Application

​​a.  Prepare the project proposal for submission with your application. (Download project proposal template he​re​.)

b.  Prepare the relevant quotations for cost items for submission with your application.

c.  Log on to the Business Grants Portal (BGP) with your CorpPass​ to apply for BIF.

d.  With complete information on hand, it should take about 30mins to complete the online application.

e.  Please note that all applications are subject to STB’s approval.

DISBURSEMENT OF GRANT

Grants will be disbursed to successful applicants on a reimbursement basis, subject to achievement of the agreed project deliverables and milestones. Applicants are required to submit third-party audited documents on qualifying costs for the disbursement of grants, unless otherwise stated.​