Singapore and Australia announced they will jointly invest AUD$20 million in a new green co-innovation programme for small and medium-sized enterprises (SMEs) in their respective countries.
The Go-Green Co-Innovation Programme (GGCIP), was announced by Singapore’s Acting Prime Minister Lawrence Wong and Australian Prime Minister Anthony Albanese at a joint press conference in Singapore.
The new initiative for green products and services is the first sustainability-focused mutual co-innovation programme and is part of the landmark Singapore-Australia Green Economy Agreement.
The GGCIP grant program will incentivise and facilitate co-innovation between Australian and Singaporean small and medium-sized enterprises to establish or expand business and commercial activities that boost two-way trade in goods and services across green growth sectors.
Grants can be used to fund the development and commercialisation of products, services, or solutions that drive the decarbonisation of economic activities or help Singapore and Australia transition to net zero emissions.
Grants will support projects that focus on priority green economy sectors, including:
- Renewable and clean energy
- Waste Management and circular economy
- Sustainable agribusiness and food
- Green transportation and logistics
- Built environment and infrastructure
- Energy-efficient technologies and products
- Advanced manufacturing and sustainable materials
- Environmental monitoring, analysis, and assessment
The program will commence with business matching activities in the lead-up to grant applications opening later in 2023. Grants for the program will be available until June 2026.