SINGAPORE: The Housing and Development Board (HDB) on Saturday (Nov 19) enhanced its Cool Ideas Fund to provide more financial support for inventors seeking to improve living environment for public housing.
In the past, applicants had to match dollar for dollar the funding disbursed, up to S$10,000. This is no longer a requirement as they can just apply for a grant of up to $10,000 to turn their ideas into reality, HDB said.
The fund was introduced in 2014 with S$600,000 to help inventors transform their prototypes into workable ones for testbedding in HDB housing estates. The initiative seeks to tap the creativity of Singaporeans to solve problems in their communities and strengthen the sense of ownership in their homes.
To date, HDB has received three applications for the fund and is reviewing them. No funding has been disbursed yet.
The enhancement was announced by National Development Minister Lawrence Wong on Saturday at the launch of the Cool Ideas for Better HDB Living exhibition at the HDB HUB Atrium.
Mr Wong added that HDB has partnered eight industry experts to mentor aspiring inventors, and these include Microsoft Singapore and 3M Singapore.