Maritime Innovation and Technology (MINT) Fund
The MPA has injected of a total of $265 million into the Maritime Innovation and Technology (MINT) Fund since 2003 to grow Singapore’s maritime innovation and technology ecosystem. The objectives of the MINT Fund are to:
- Develop competitive edge for the port of Singapore (i.e. a world-class port and port services that are smarter, safer, more efficient and sustainable);
- Build up technological capabilities within our maritime industry in key niche areas; and
- Transform the maritime sector into a highly productive and innovative cluster by leveraging leading-edge technologies.
There are currently three funding schemes available.
For more queries, please feel free to drop an e-mail to: mint@mpa.gov.sg
This scheme promotes applied R&D and encourages development of maritime technology and IP/patent and capabilities development, and is relevant to maritime technology developers, marine and port equipment makers and maritime companies with in-house R&D outfit in Singapore.
Eligibility Criteria
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 Organisation 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 must be carried out in Singapore.
Projects applying for the MINT Fund should be technology oriented with innovative content, relevant to the maritime industry, develop or test-bed products/services that have commercialisation potential, and satisfy either the MINT-RD or MINT-PD criteria.
Co-Funding
Funding support for manpower and equipment either engaged or acquired for the purposes of the project, and other operating expenditure incurred for the purposes of the project.
Evaluation
All MINT applications are evaluated based on the following criteria:
- Relevance and impact to the maritime industry
- Innovation and differentiation from existing solutions
- Capability development in Singapore
- Local value capture
- Organisation and team competency
This scheme encourages product and solution development, value creation, and translation of technologies for maritime applications. It is relevant to technology developers, marine and port equipment makers, systems integrators and maritime companies with in-house technology product development (for industry) outfit in Singapore.
Eligibility Criteria
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 Organisation 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 must be carried out in Singapore.
Projects applying for the MINT Fund should be technology oriented with innovative content, relevant to the maritime industry, develop or test-bed products/services that have commercialisation potential, and satisfy either the MINT-RD or MINT-PD criteria.
Co-Funding
Funding support for manpower and equipment either engaged or acquired for the purposes of the project, and other operating expenditure incurred for the purposes of the project.
Evaluation
All MINT applications are evaluated based on the following criteria:
- Relevance and impact to the maritime industry
- Innovation and differentiation from existing solutions
- Capability development in Singapore
- Local value capture
- Organisation and team competency
This scheme encourages the maritime industry to accelerate innovation and venture into adjacent/ new growth areas through working with tech start-ups. Start-ups that have completed the PIER71™ or other relevant maritime programmes from the Accelerator Partners of MPA in Singapore can apply for a grant of up to S$50,000 to pilot their projects. Promising start-ups looking to scale up their offerings or projects can also apply for a project grant of up to S$100,000.
