Grant Overview
Understand how this grant can help you in your company’s digital transformation strategy
Drive Industry Transformation with LEAD Grant for Trade Associations
Trade associations and chambers (TACs) play a pivotal role as change agents in developing industry capabilities and catalyzing enterprise growth.
But strategic industry-level projects require substantial investment.
Singapore's Local Enterprise and Association Development (LEAD) Programme enables TACs to partially fund such impactful initiatives through grants of up to $300K per project.
In this article, we will cover:
- LEAD grant highlights and focus areas
- Eligibility criteria for TAC applicants
- Details on qualifying project costs
- Realistic examples of TACs using LEAD
- Application and disbursement processes
- Tips for creating a compelling LEAD application
If your TAC meets the prerequisites, LEAD can subsidize high-impact projects to transform capabilities, boost productivity, facilitate internationalization and more.
Let's get started.
LEAD for TACs Grant Highlights: Funding for Strategic Industry Projects
The LEAD grant aims to support TACs in driving strategic projects focused on upgrading industry capabilities, facilitating internationalization and more.
Key details on LEAD include:
- Funding for industry innovation, upgrading, and expansion
- Up to 70% funding support for qualifying projects
- Minimum grant of $30K; maximum of $300K per TAC
By co-funding such strategic initiatives, LEAD enables TACs to spearhead transformation and growth across industries.
Which Trade Associations and Chambers Qualify for LEAD?
The LEAD grant targets Singapore-based TACs focused on building industry capabilities and internationalization.
To qualify, TAC applicants must:
- Be registered societies, professional bodies, business chambers or equivalent
- Represent a key industry with strong economic contributions
- Demonstrate a track record in enterprise upgrading
- Have a leadership team focused on industry development
- Ensure project has not commenced before application
TACs that meet these criteria can tap on LEAD to drive impactful industry-level projects.
LEAD Can Cover Majority of Your Project Costs
The LEAD grant provides generous support for costs related to strategic and innovative TAC projects.
LEAD co-funds up to 70% of:
- Manpower costs e.g. project team salaries
- Equipment, materials, software, consumables
- Professional consultancy and contracting
- Business development activities e.g. trade missions
- Licensing, royalties, technology acquisition
LEAD alleviates the substantial investment required for industry-wide capability development.
Examples of TACs Using LEAD for Transformation
Consider how LEAD can support two hypothetical TAC applicants:
Precision Engineering Association - Developing industry 4.0 standards
- Association aims to establish industry 4.0 frameworks and standards
- Taps on LEAD to fund 70% of costs related to consultancy, training programs, and certification
- Enables industry-wide upgrading of precision engineering capabilities
Restaurant Association - Lead generation with food festival
- Association wants to drive footfall and lead generation for F&B members
- Uses LEAD to fund 70% of costs to organize a major food festival in Singapore
- Increases visibility and new business opportunities for restaurants
As demonstrated, LEAD provides accessible funding for TACs to implement strategic and impactful industry projects.
4 Tips for a Strong LEAD Grant Application
When applying for LEAD as a TAC, we recommend:
- Articulate project objectives and industry outcomes clearly
- Provide detailed project budget and timeline
- Highlight how project aligns to TAC's purpose and industry needs
- Emphasize commitment to co-funding the project
- Meet all eligibility criteria
A compelling application outlining project strategic value and planning will strengthen LEAD approval potential.
Step-by-Step Process for LEAD Application and Disbursement
Here is an overview of the LEAD application and disbursement process for TACs:
- Engage Enterprise Singapore to discuss project prior to application
- Prepare capability development proposal, budget, TAC details etc.
- Submit documents online for assessment by Enterprise Singapore
- Application will be approved within 8-12 weeks if eligible
- Grant agreement issued detailing project milestones
- Carry out project; submit progress reports at agreed milestones
- Claim disbursements upon satisfactory milestone achievement
Proper project planning and execution enables smooth LEAD grant approval and disbursement.
For more info about the trade fair checklist ( illustration below ), please refer to the pdf link here ↗️
Drive Industry Transformation with LEAD
In summary, the LEAD grant enables Singapore-based trade associations and chambers to spearhead strategic projects that transform industry capabilities.
With LEAD's generous funding support, TACs can now pursue high-impact initiatives for their industries.
To explore LEAD funding for your upcoming TAC project, speak to our specialists today. Book a discovery call through our website and we'll be in touch!
Outcomes and Impacts
LEAD co-funds up to 70% of:
- Manpower costs e.g. project team salaries
- Equipment, materials, software, consumables
- Professional consultancy and contracting
- Business development activities e.g. trade missions
- Licensing, royalties, technology acquisition
