Maritime Innovation & Technology (MINT) Fund
Supporting local maritime companies and the development of the Singapore maritime technology cluster to enhance innovation and develop a competitive advantage through R&D
MPA has established a S$200 million MINT Fund to support development programmes for the maritime technology cluster. With the setting up of the Singapore Maritime Institute (SMI) in 2011 to develop the maritime education, training and research and development (R&D) landscape in Singapore, the MINT Fund will focus on promoting Research and Technology Development in partnership with the industry.
Walking with you on the road of success
As part of its vision for developing Singapore’s maritime cluster, the MPA has taken a holistic approach in identifying critical areas that need support along the difficult road of transforming a clever and innovative idea into commercial success. There are currently 2 funding schemes available:
MINT-Research & Development (MINT-RD)
This scheme promotes upstream research and encourages creation of knowledge, capability and IP within the companies, and is relevant to maritime companies and large companies with in-house R&D, as well as marine equipment makers and technology developers.
MINT-Product Development (MINT-PD)
This scheme encourages product and solution development, value creation, and the translation of state-of-the-art technologies from non-maritime industries for use within the maritime domain, and is relevant to maritime companies with engineering design capabilities, engineering companies, system integrators, software / hardware developers, shipyards, and overseas technology companies.
The applicant should be a company incorporated under the Companies Act (Cap. 50) and operating in Singapore, with a minimum paid-up capital of 50% of the total project costs; or a classification society appointed as a Recognised Organization under the Merchant Shipping (Authorised Organisations) Regulations. In addition, the R&D into or test-bedding of new or better products, processes and applications relevant to the maritime industry should be carried out in Singapore.
Potential MINT Fund projects should be technology oriented with innovative content, relevant to the maritime industry, develop or test-bed products and services that have commercialisation potential, and satisfy either the MINT-RD or MINT-PD project scope.
Grant of up to 50% of the total qualifying project costs (inclusive of input GST), comprising of manpower and equipment either engaged or acquired for the purposes of the project , and other operating expenditure incurred for the purposes of the project. Projects deemed by MPA as strategic to its interest or have industry-wide impact may be considered for an increase in funding support level.
Contact and Application
Applicants who are interested to apply for the MINT Fund may contact:Research & Technology and Industry Development Department, Technology Division
Maritime & Port Authority of Singapore
460 Alexandra Road
#17-00 PSA Building
Tel: (+65) 6375 1243 or 6375 1829
Fax: (+65) 6375 1277
Email: email@example.com (Header: MINT Fund Application)
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