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The Cyber Security Agency of Singapore (CSA) has launched a new grant called the Cybersecurity Co-Innovation and Development Fund (CCDF) to support local cybersecurity companies. This grant provides up to S$1 million in funding per project for up to 24 months.
The CCDF aims to catalyze the development of innovative cybersecurity solutions that enhance cybersecurity and address national security needs. The grant encourages collaborations between cybersecurity companies and end-users by facilitating the matching of industry proposals to end-user challenges.
Cybersecurity companies that are registered in Singapore are eligible to apply. Overseas companies can also qualify if they partner with a Singapore-registered company. At least 50% of the project team must comprise Singapore residents or permanent residents.
The grant covers costs related to manpower, equipment, professional services, and software required for developing the cybersecurity solution. Funding is provided on a reimbursement basis upon achievement of project milestones and submission of relevant supporting documents.
Proposals are evaluated based on several criteria including the uniqueness and innovation of the proposed solution, its applicability and benefit to the wider cybersecurity industry, and the competency of the project team.
The CCDF is now open for applications under the Cybersecurity Industry Call for Innovation (CyberCall 2023). Interested companies can visit the CSA website for more details and submission instructions.
This is an excellent opportunity for cybersecurity companies looking to develop cutting-edge solutions that tackle current and emerging threats. The grant provides substantial support for the high costs of research and development. It allows companies to focus their resources on innovation rather than worrying about funding constraints.
For companies looking to tap on grants and incentives to grow your cybersecurity business, consult an experienced grant consultant in Singapore. They can advise you on available grants, help you with the application process, and ensure you put your best foot forward to win the grant. Reach out to us today for a consultation!