Cybersecurity Capability Grant

The Cybersecurity Capability Grant (CCG) is launched as part of the Financial Sector Technology and Innovation (FSTI) scheme under the Financial Sector Development Fund (FSDF) to deepen cybersecurity capabilities and develop local cybersecurity talent in Singapore’s Financial Services sector.

The FSTI parameters are in the midst of being revised and the new scheme will be announced shortly. Interested parties may further engage MAS to discuss their proposed project ideas at FSDF@mas.gov.sg .

Grant Details

	Details
Applicant Eligibility	Applicants should be a Singapore-based FIs involved in either establishing, expanding or relocating cybersecurity functions to Singapore.
Project Eligibility	Applications should include a roadmap to build up infrastructure capabilities and talent pipeline in cybersecurity in the financial services sector: a. Key cybersecurity functions to be expanded or created within the Singapore office and how it will help to foster a more cyber resilient organisation. Key cybersecurity functions include: Cyber fusion team and centre Cyber threat intelligence team Malware analysis team Cyber threat hunting teams Cyber forensics Security operations centre b. Plan to deepen cybersecurity skillsets of local employees including Singaporeans. c. Plan to facilitate transfer of cybersecurity skillsets from overseas offices (if applicable)
Funding	Up to 50% co-funding of qualifying expenses which may include direct manpower costs, capped at $3 million per project. Each FI will also be subject to a FI-level cap of $3 million. The employed professionals can be of any nationality but must be based in the applicant’s Singapore office. The employed professionals should possess acceptable degrees, diplomas, professional qualifications or specialist skills relating to the cybersecurity function, unless specified otherwise by the sponsoring department. The funding period is capped at 3 years. The project cannot be simultaneously funded by other government grants or incentives with respect to the same set of qualifying costs and commitments.

Details

Applicant Eligibility

Applicants should be a Singapore-based FIs involved in either establishing, expanding or relocating cybersecurity functions to Singapore.

Project Eligibility

Applications should include a roadmap to build up infrastructure capabilities and talent pipeline in cybersecurity in the financial services sector:

a. Key cybersecurity functions to be expanded or created within the Singapore office and how it will help to foster a more cyber resilient organisation. Key cybersecurity functions include:

Cyber fusion team and centre
Cyber threat intelligence team
Malware analysis team
Cyber threat hunting teams
Cyber forensics
Security operations centre

b. Plan to deepen cybersecurity skillsets of local employees including Singaporeans.

c. Plan to facilitate transfer of cybersecurity skillsets from overseas offices (if applicable)

Funding

Up to 50% co-funding of qualifying expenses which may include direct manpower costs, capped at $3 million per project. Each FI will also be subject to a FI-level cap of $3 million.

The employed professionals can be of any nationality but must be based in the applicant’s Singapore office.
The employed professionals should possess acceptable degrees, diplomas, professional qualifications or specialist skills relating to the cybersecurity function, unless specified otherwise by the sponsoring department.

The funding period is capped at 3 years.

The project cannot be simultaneously funded by other government grants or incentives with respect to the same set of qualifying costs and commitments.

How to Apply

Interested parties may further engage MAS to discuss their proposed project ideas at fsdf@mas.gov.sg .

Applicants should submit their applications 3 months before the commencement of the cybersecurity operations in Singapore to facilitate project discussions and processing of application.