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Spring Singapore sets up appeals panel to review failed applications for development grant
SPRING Singapore has set up an appeals panel to review rejected applications for a financial assistance programme designed for small- and medium-sized enterprises (SMEs).
The 17-member panel will start its work under a pilot programme from Nov 1, reviewing failed applications for the capability development grant, which helps SMEs build capacity in 10 areas such as productivity improvement, human capital development and technology innovation.
Panel chairman Sim Giok Lak, who is also the chairman of Zicom Group Limited, said the appeals panel comprises private-sector individuals and was formed to provide business perspectives in the assessment of applications.
Spring Singapore's chief executive Tan Kai Hoe expressed hope that the pilot panel will complement and strengthen existing application and review processes.
Mr Sim stressed that the pilot panel will be able to provide applicants with independent and objective feedback.
The capability development grant helps SMEs defray up to 70 per cent of qualifying project costs in the 10 listed areas.
Last year, some 720 applications for the grant were approved.