The Singapore government always is on the frontline to help small businesses and innovation. The CDG grant was a prominent example of such help done by the government to support SMEs in the country. The whole aim is to encourage talented individuals to become entrepreneurs and build many world-class brands within the country. However, after a few years of successful running, the CDG was stopped by the government.
The alternative to CDG
CDG Grant is an excellent way of finding investment, and many individuals started businesses with the help of this grant. So cancelling such a successful grant was unprecedented and shocking for many aspiring entrepreneurs. But, the Singapore government knew the importance of such a program and came up with an alternative called EDG.
Why EDG against CDG?
There are common questions about the reason to cancel CDG and bring up a new scheme. But with EDG, the government was trying to bring a much more comprehensive option for businesses in the local market. The new project also replaces global company partnership grants along with CDG. However, the new EDG scheme includes the characteristics of both the previously cancelled program. So with this new grant, local business owners can get more extensive supports.