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RIC Founder Gerald Yap on Singapore Grants for Tech and AI Companies
- Real Inbound Consulting
- Aug 9
- 2 min read
In July 2024, Real Inbound Consulting founder Gerald Yap joined Inspius host Le Duy Khanh for a podcast discussion on how businesses can make better use of Singapore government grants, with a particular focus on technology and AI companies.
The conversation reflected an important principle that continues to shape RIC's work today: companies should not begin with the grant itself. They should begin with the growth, innovation or transformation project they want to execute, then assess which funding pathway best fits that project.
Why Grants Matter for Technology and AI Companies
Technology and AI companies often need to invest ahead of revenue.
Product development, technical hiring, commercialisation, market expansion and infrastructure can all require significant upfront capital.
Government support can therefore help reduce the risk of executing strategically important projects, provided the project is well defined and the company is prepared to deliver the outcomes it commits to.
The Funding Pathway Depends on the Project
A technology company developing proprietary IP has a very different funding need from a company expanding overseas or adopting AI internally.
That is why grant selection should follow the project objective.
Depending on the company and project, relevant pathways can include support for R&D and product development, digital transformation, overseas expansion, workforce capability and other strategic initiatives.
The strongest funding strategy is usually built around a portfolio of projects rather than a single grant.
AI Projects Need a Clear Commercial Use Case
AI has become a major focus for businesses, but the existence of an AI component does not automatically make a project fundable.
A stronger project explains the business problem being solved, why AI is appropriate, what will be developed or implemented, what measurable value should result and how the company will execute the project.
This makes the funding proposition easier to assess and reduces the risk of pursuing technology simply because it is fashionable.
Funding Should De-Risk Growth, Not Replace Strategy
The broader message from the podcast was that government funding works best when it supports a project the company already has a strategic reason to pursue.
Grants can improve project economics, accelerate execution and reduce risk.
But they should not become the reason for creating a weak or unnecessary project.
The business case should remain credible even before the funding is considered.
RIC's Approach Today
RIC now describes this approach as funding architecture.
The process starts with the company's growth or innovation objective, then considers project design, agency fit, eligibility, implementation readiness and the evidence required through approval and claims.
This is particularly relevant for technology companies because several funding pathways may apply at different stages of the company's growth journey.
Speak With RIC
Share your company profile, project objective, estimated budget and implementation timeline.
RIC can help assess the relevant funding pathways and how the project should be structured.
