Maritime Cluster Fund (MCF)
Introduced by the Maritime and Port Authority of Singapore (MPA), the Maritime Cluster Fund (MCF) facilitates the growth of Singapore's maritime cluster by supporting the industry's manpower and business development efforts as well as its drive for productivity improvements. There are three key components under MCF. The MCF-Manpower Development co-funds maritime companies in the development of manpower, training initiatives and capabilities. The MCF-Business Development supports eligible expenses incurred in the initial development of new maritime companies and organisations setting up in Singapore, or existing maritime companies and organisations expanding into new lines of maritime businesses. The MCF-Productivity supports initiatives by the maritime industry that will lead to productivity gains.
MCF-Manpower is available for the development of manpower, training initiatives and capabilities within the maritime industry. Accessible to companies, company-supported or self-sponsored individuals, the fund focuses on developing and enhancing the pertinent skills of employees.
(A) Training@MaritimeSingapore: To upgrade knowledge and expertise of local maritime personnel through attending MPA-approved training programmes. Examples of supportable activities include:
- External Training - Short Courses and Certifiable Courses: To encourage individuals and maritime employees to attend approved training by providing training grant [New: With effect from 1 June 2016 to 31 May 2018, the co-funding support will be up to 90% for selected short courses and certifiable courses. Please refer to Section (D) below for more details.]
- In-house Training: To encourage maritime enterprises to provide in-house training to employees
(B) Talent@MaritimeSingapore: To encourage companies to invest in the development of expertise through attachments and career development programmes. Examples of supportable activities include:
- Industry Attachment: To encourage maritime enterprises to invest in the development of expertise through industry attachment conducted in local or overseas offices
- Overseas Attachment: To encourage maritime enterprises to offer overseas attachment opportunities to staff, to acquire specific skills or exposure to market knowledge
- Management Associates: To support grooming of local talent for management and leadership positions
(C) InvestManpower@MaritimeSingapore: To encourage maritime enterprises and industry associations to adopt well-structured HR and training infrastructure, tools and processes so as to attract, train and develop their talent pool.
- Industry/Strategic-level Development: To encourage maritime enterprises or industry associations to work together to attract talents and improve Singapore's maritime workforce capabilities. These manpower development initiatives could bring about industry-specific benefits or national-level benefits to Singapore's growth as an International Maritime Centre
- Enterprise-specific Development: To encourage maritime enterprises to establish good HR practices/tools and establish training infrastructure
(D) Maritime Manpower Schemes Announced in April 2016 (NEW): In April 2016, MPA announced that it will be setting aside S$12 million under MCF-Manpower Development to attract, develop and retain local talent (Singaporeans and Permanent Residents) in the maritime sector. Some of these new measures include:
- Enhanced Co-Funding under MCF-Manpower (Valid from 1 June 2016 to 31 May 2018): To support maritime enterprises in the development of manpower, training initiatives and capabilities, co-funding support for selected training activities will be increased up to 90 per cent for selected training or courses
- Internship Reimbursement Scheme (Valid from 1 May 2016 to 30 Apr 2018): To encourage maritime enterprises from the port, shipping and maritime services sectors to continue providing local students from any discipline with internship opportunities. MPA will co-fund 50% of the internship allowances of these students, up to S$400 per month for a maximum period of 6 months.
- Maritime Career Conversion Scheme (Valid from 1 June 2016 to 31 May 2018): To help locals re-skill and take on quality jobs in the maritime industry, MPA will provide co-funding support to local fresh graduates of non-maritime background and mid-careerists to undergo a structured training programme to enhance their employability in selected maritime jobs in port, shipping and maritime services sectors. For mid-careerists, MCCS supports both new entrants into maritime or maritime employees looking for a career change within maritime.
MCF-Business Development is available to support eligible expenses incurred by maritime companies and organisations setting up new maritime-related businesses; expanding into new lines of maritime businesses / functions, or expanding their network of offices. MCF-Business Development is a co-funding grant scheme available to qualifying maritime players committed to growing and succeeding in Singapore.
Companies are eligible to apply if they meet the qualifying criteria.
Application form must reach the MCF Secretariat at least 30 days prior to commencement of the project.
Introduced in 2013, MCF-PD aims to elevate the productivity of maritime companies by way of enhancing business processes and workflow; or by developing and adopting technology solutions. Maritime-related entities as well as technology and engineering companies with a maritime focus may apply for the MCF-Productivity.
Qualifying projects will receive up to 70% of co-funding from MPA for eligible expenses such as:
- Software licensing (limited to first year of subscription)
- Software Customisation (e.g. systems integration, predictive analytics)
- Professional Services (e.g. research and consultancy, end-user training)
- Specialised Hardware (e.g. ship-board sensors, marine autonomous systems)
- Salary of In-House Project Staff
- Accreditation (e.g. certification costs)
A fully completed application form must reach the MCF Secretariat at least 30 days prior to commencement of the project. Due to potential complexity of each project, interested applicants are encouraged to contact the MCF Secretariat for a discussion about 6 to 8 weeks before the project commencement.
Companies are eligible to apply if they meet the qualifying criteria.
For more information on the Maritime Cluster Fund and how you can benefit, please contact the MCF Secretariat:
Ms Bernice Chey, Tel: (+65) 6375 1923
Ms Susan Gan, Tel: (+65) 6375 1922
- Setting Up in Singapore
- Setting Up Your Maritime Business in Singapore
- Applying for Employment Passes
- Registering a Ship
- Programmes to Support Your Maritime Business
- Maritime Sector Incentive - Approved International Shipping Enterprise (MSI-AIS) Award
- Maritime Sector Incentive - Maritime Leasing (MSI-ML) Award
- Maritime Sector Incentive - Shipping-related Support Services (MSI-SSS) Award
- Withholding tax ("WHT") exemption on interest and related payments made in respect of loans obtained to finance the purchase or construction of ships
- Withholding tax ("WHT") exemption on interest and related payments made in respect of loans obtained to finance the purchase of containers and intermodal equipment
- Developing Manpower
- Developing Infocomm Technology Capability
- Research & Development
- Grants and Incentives
- Latest Happenings
- Industry Partnerships
- Innovation Showcase