Business Improvement Fund (BIF)
The Business Improvement Fund (BIF) helps tourism businesses boost productivity and competitiveness by supporting technology innovation and adoption, business model and process enhancements, and sustainability initiatives across the tourism industries. It is one of STB's most established grant schemes and is particularly targeted at companies within the tourism sector. BIF supports projects that lead to business transformation, capability development, and long-term sustainability. Companies in the tourism ecosystem — including accommodation providers, travel agencies, attractions, MICE organisers, tour operators, and lifestyle/retail businesses with a strong tourism focus — can leverage BIF to drive innovation, improve operations, and deliver exceptional visitor experiences. The fund supports both SMEs and non-SMEs with different funding levels for each category.
Eligibility Criteria
- 01
Singapore-registered businesses only
- 02
Particularly tourism businesses taking on core capability development initiatives
- 03
Technology companies creating innovative products/services for tourism businesses eligible
- 04
Hotels and hostels must possess valid license from Hotels Licensing Board (HLB)
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Projects must not have commenced at point of application
- 06
SME definition: At least 30% local shareholding AND either group annual sales up to S$100M OR employment ≤200
How to Apply
1. Use STB Chatbot to identify the right fund and check project eligibility 2. Prepare executive summary using BIF template with project objectives, description, schedule, and costing 3. Submit executive summary to STB_Incentives@stb.gov.sg 4. STB officer will advise on eligibility and proceed with formal application 5. Submit formal application via Business Grants Portal (BGP) using CorpPass 6. STB evaluates (up to 90 days processing) 7. Upon approval, proceed with project implementation 8. Submit claims with AUP Report after project completion
Claims and Disbursement
1. Complete the project and achieve agreed deliverables/milestones 2. Maintain documentation: payment proofs, receipts, reports, photographs 3. Engage a Practitioner to prepare an AUP Report on qualifying costs 4. Submit the AUP Report and supporting documents 5. STB verifies qualifying costs and achievement of deliverables 6. Grant disbursed on reimbursement basis
Frequently Asked Questions
SMEs receive funding support of up to 70% of qualifying costs, while non-SMEs receive up to 50%. SME status is determined by having at least 30% local shareholding and either group annual sales turnover up to S$100M or employment size ≤200.
Hotels, resorts, travel agencies, tour operators, tourist attractions, cruise operators, MICE companies, event organisers, lifestyle/retail businesses with tourism focus, and F&B outlets catering significantly to tourists.
Yes, technology companies creating innovative products and services specifically for tourism businesses are eligible.
Yes, hotels and hostels should possess a valid license issued by the Hotels Licensing Board (HLB).
Yes, training costs are covered if training is an intrinsic component of the project.
Contactless check-in systems, AI-powered customer service chatbots, smart queue management, inventory automation, mobile app development, workflow reengineering, sustainability planning, HR systems upgrades.
The Business Grants Portal (BGP) at https://www.businessgrants.gov.sg/ — a CorpPass account is required.
Related Grants
Tourism Development Fund (TDF)
Singapore Tourism Board
Varies by sub-scheme - see individual grant programmes
Singapore Tourism Board (STB) partners with the tourism sector to strengthen Singapore's tourism through the Tourism Development Fund (TDF). The TDF is the umbrella framework that encompasses all STB grant schemes, designed to catalyse the creation of innovative and quality tourism products and experiences, and support capability and employee upgrading efforts among tourism-related enterprises. The TDF consists of three main schemes targeting different dimensions of tourism development: Tourism Capability Development Scheme (including BIF, LEAD, and TIP-iT), Tourism Event Development Scheme (including BEiS, Kickstart Fund, and LEF), and Tourism Product Development Scheme (including CDF, ESF, and TPDF). Key enhancements to the latest tranche include increasing the grant cap to support new and innovative events under the Kickstart Fund, and supporting the development and enhancement of Singapore's tourism experiences that are virtual or include pre- and post-visit experiences under the Experience Step-Up Fund.
Growth and Transformation Scheme (GTS)
Building and Construction Authority
Up to 70% of qualifying costs from S$90 million fund for alliance-based initiatives
The Growth and Transformation Scheme (GTS) is a strategic BCA initiative designed to support the formation and development of strategic alliances among Built Environment (BE) value chain partners. Recognizing that the BE sector is made up of many independent businesses with heavy inter-dependencies, GTS encourages multiple partnering companies — developers, consultants, builders, and sub-contractors — to come together and collectively develop strong, capable supply chains over the long term. Unlike firm-level grants, GTS goes beyond project-specific support and enables companies to take a long-term view on business and workforce transformation. It supports partnership efforts to strengthen technical capabilities as well as corporate, digital, and innovation practices, achieving mutually beneficial outcomes over a sustained period. The government has set aside S$90 million under GTS to co-fund up to 70% of qualifying costs for alliance-based transformation initiatives.
Experience Step-Up Fund (ESF)
Singapore Tourism Board
Percentage of qualifying costs determined by STB based on project scope and merits (not publicly disclosed)
Aimed at increasing the attractiveness of Singapore to visitors, the Experience Step-Up Fund (ESF) supports the development and enhancement of Singapore's tourism experiences. The ESF was introduced by STB to help businesses in the tourism industry enhance and innovate their tourism products and services, encouraging them to develop unique and high-quality tourism experiences that attract both domestic and international tourists. The latest TDF tranche includes enhancements to the ESF, supporting the development and enhancement of Singapore's tourism experiences that are virtual or include pre- and post-visit experiences to increase the attractiveness of Singapore to visitors. This recognises the evolving nature of tourism where digital and hybrid experiences play an increasingly important role. ESF is particularly relevant for attractions, tour operators, accommodation providers, and precinct businesses looking to create compelling new experiences or significantly enhance existing ones.
CTO-as-a-Service (CTOaaS)
Infocomm Media Development Authority
Free digital advisory and project management services for first-time eligible users, plus access to 300+ subsidised digital solutions (30% AI-enabled) with up to 50% PSG co-funding
Chief Technology Officer-as-a-Service (CTO-as-a-Service) is IMDA's one-stop self-help platform that enables SMEs in Singapore to self-assess their digital readiness, access market-proven digital solutions, and engage digital consultants for in-depth digital transformation strategy advisory and project management services. It is a core component of the SMEs Go Digital programme, serving over 400,000 users in 2024. The platform provides a comprehensive suite of tools and services: a Digital Health Check for assessing digital readiness, recommendations of digital solutions based on business needs, the ability to compare over 300 pre-approved solutions by functions and costs, success stories from other SMEs, and the new Go Digital Advisor tool (launched in 2025) that helps SMEs identify the right solutions in just three clicks. Beyond self-service tools, CTO-as-a-Service also provides access to digital transformation consultants from appointed operators (Accenture and Stone Forest IT) who can provide tailored digital advisory, including digital solutions and training roadmaps, cybersecurity risk assessment, data usage and protection requirements, and project management services for digitisation implementation.
Tourism Product Development Fund (TPDF)
Singapore Tourism Board
Percentage of qualifying costs determined by STB based on project scope and merits (not publicly disclosed)
The Tourism Product Development Fund (TPDF) is aimed at enhancing Singapore's attractiveness as a tourist destination through supporting the creation and/or major rejuvenation of tourism products. TPDF focuses on larger-scale initiatives — building or rejuvenating major tourism products, including attractions and standalone infrastructure development, to strengthen Singapore's tourism attractiveness. A critical distinction is that TPDF specifically requires that major rejuvenation of existing tourism products includes the creation of or introduction of new content for visitors. Refurbishment work (i.e., hardware improvement and maintenance works) with no content refresh are not eligible. This ensures the fund supports genuinely transformative projects rather than routine maintenance. TPDF sits within the Tourism Product Development Scheme alongside the Cruise Development Fund (CDF) and Experience Step-Up Fund (ESF), but targets the most substantial product-level interventions — new attractions, major upgrades to existing ones, and standalone infrastructure that enhances Singapore's tourism proposition.
Kickstart Fund (KF)
Singapore Tourism Board
Up to S$250,000 per edition, maximum 4 editions over 4 years (total up to S$1,000,000)
Aimed at adding to the existing quality tourism software and enhancing the vibrancy of Singapore as a tourist destination, the Kickstart Fund (KF) supports the creation and test-bedding of innovative consumer- or business-focused concepts and events with strong tourism potential and scalability. The fund is designed to support new, untested ideas that could become signature events or concepts for Singapore. KF specifically targets multi-disciplinary, hybrid, and virtual events which can cut across lifestyle and/or business sectors. This includes but is not limited to pop-ups, B2B2C and B2B events. The key emphasis is on innovation, tourism potential, and scalability — the fund aims to help incubate ideas that could grow into significant tourism drivers over time. The latest TDF tranche included an increase in the grant cap for KF to support new and innovative events, reflecting STB's commitment to fostering creative and impactful events that enhance Singapore's position as a vibrant destination.