MAS FSTI Proof-of-Concept Grant
Up to 70% of qualifying costs (dependent on project type), capped at $200,000
Up to 18 months
- A that is licensed, regulated, supervised or registered by MAS; or
- A technology or solution provider (including start-ups, professional services and consultancy firms) with at least one that is licensed, regulated, supervised or registered by MAS sponsoring the project. Project sponsors need not have a direct financial stake in the project, but must exhibit active engagement and commitment to see the project to completion.
Applicants may submit multiple proposals if there are multiple distinct components within a project that fit the qualifying criteria. Each proposal will be treated as a separate project, and will be evaluated and funded separately.
|Type of project||Project Details||Support|
|Investigative project||Projects which aim to develop a novel concept of resolving industry-wide problems, using technology or business processes.||Up to 50% of qualifying costs for each project will be supported, up to a maximum of $200,000.
Note: Some projects may qualify for up to 70% reimbursement.
|Technical equivalence trial||Trials which aim to definitively answer regulatory uncertainty about risks and benefits from replacing legacy processes with innovative ones. These trials should be rigorously designed and conducted without bias.||Up to 70% of qualifying costs for each project will be supported, up to a maximum of $200,000.|
|Funding Categories||Funding scope|
|Basic manpower costs||Basic salaries plus employee's CPF contribution, excluding:
Employer's CPF contribution, annual wage supplements, bonuses, allowances (fixed and variable) and overtime. The salaries of founders and direct owners of the applicants are specifically excluded.
|Professional services costs||Includes consultancy, sub-contracting, prototyping costs by third-party locally-based companies/vendors.|
|Equipment or software costs||Includes purchase price and costs related to commissioning and operation (e.g. delivery, installation, handling). Only project-related technical software costs are supported.|
|IP rights||Includes licensing and technology acquisition costs from non-related parties.|
|Other Expenses||Includes project-related training by external parties, patent-related costs, and rental of specialised equipment or facilities.|
|Evaluation Cycle||Application Submission Period|
|Q1 (April to June)||1 to 31 March|
|Q2 (July to September)||1 to 30 June|
|Q3 (October to December)||1 to 30 September|
|Q4 (January to March)||1 to 31 December|
Stage I: Eligibility screening
Proposals are assessed for eligibility based on the stated qualifying criteria.
Stage II: Evaluation by panel of industry experts
Proposals are assessed for novelty, potential utility, and likelihood of success.
Stage III: Final panel evaluation
Where necessary, applicants may be required to provide clarifying information to a final panel.