Ready Meal Productivity Challenges – Tell us about your challenge

Grant Objective: 

If you’ve been to your local take-away in the past months or so, you may have noticed a change. No, not in the food quality (although that could be up for debate), but in the way it’s prepared. Chances are, it came out of a microwave instead of an oven or fryer. And if you’re like me, you were likely less than impressed with the results. But all that is set to change with a new grant from the Ready Meals Innovation Fund. With this supportive grant, take-away meal manufacturers or simple food manufacturers can purchase new equipment that will allow you to produce ready meals while retaining the quality, taste, and nutritional value of the food.

• Automation: To support your company’s usage of automation and technology which can result in tangible benefits and significant growth.
• Examples:  Existing Chain Restaurant or Central Kitchen decided to explore and invest in equipment and research which can prolong their existing shelf life meals and also make it convenient for the consumer to purchase, cook and consume.

 Scope of work can cover:

• • Adoption/development of sophisticated hardware and software solutions
  • Development of solutions that involve the purchase of machinery and integration of systems
  • Training of staff to deploy solutions

  What is not supported:

  • Set-up costs that are essential to starting a business
  • Cost of equipment and gadgets, such as fridge, freezer, tablets and mobile phones
  • Equipment and software costs that are supported under the Productivity Solutions Grant (PSG)

• Process Redesign: To help your company review existing processes and identify possible areas to improve efficiency. This is a critical first step before introducing automation or technology.

• Scope of work can cover:

  • Review and streamline workflow and processes to reduce or remove redundant processes
  • Explore the use of technology to automate processes
  • Review and development of performance measures
  • Development of tracking and measurement system
  • Development of detailed roadmap of actions for further improvement
• Product Development: To help your company develop innovative technology and products with the end goal of commercialization.

• Scope of work can cover:

  • Assessment of shelf life vs taste viability.
  • Evaluation of potential demand and user understanding.
  • Development of product roadmap and proposed functionalities for the product.
  • Demonstration of market validation.
  • Development of commercialization plan.
  • Review of IP considerations.
  • Development of prototype and small batch production, where relevant.

  What is not supported:

  • Development of first product
  • Projects with low levels of technology innovation in relation to industry norms

• WHO CAN APPLY?

  Companies keen to apply for the Enterprise Development Grant (EDG) should meet these criteria:

  • Be registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Be in a financially viable position to start and complete the project
• If your a startup, you can explore more grants on PSG or Startups instead.
• Approval Time for EDG Grants may varies across sector and also you should not commence or pay any deposit before Letter of Offer is out. Currently 2022, due to huge volume, Enterprise is taking a slightly longer time to process the application.
• Apply with ESG at here

Analysis of opportunities and threats

• Overview of new business opportunities that will open up to the investor when entering a new market.
• Identification of hazards and risks associated with the investment, together with developing the most likely scenarios.
• Overview of market niches for seeking opportunities to expand your area of operations in a new market.
• Determining market growth prospects, exploring possibilities and the scale of potential earnings in a new market.
• Researching opportunities for success in the context of the client’s objectives – determining whether the planned investment has economic and business rationale.

Recommendations

• We advise on what decision to make: whether it is worth investing and what market segment has the highest sales potential.
• We help identify business partners (e.g. suppliers or distributors) and we lead our clients through the process of negotiation, and through the early stages of cooperation.
• We suggest a business model that has the best chance of succeeding in a new market, or in relation to a new product / service.
• We create a market entry strategy, including recommendations for, among others, operations, supply, sales and marketing.
• We develop a positioning strategy and business development strategy in the new market, including ways of dealing with investment risks.

• We help you pre launch at prime location (locally and overseas)
• Sales tests
• Feedback tests
• Image studies
• OverallBrand analysis
• Distribution channels analysis

Our team of researchers, analysts and consultants is not afraid of any challenge. We believe in the power of our research model – customisation of our approach to the individual needs of our client, their business challenge, the industry, the region, and the project as a whole. We want to inspire our clients and show them what else they can do to improve your business results.