Grants for startups- Startup SG Founder
Startup SG Founder provides a platform for matching mentors to start-ups, as well as funding up to $50,000 to first-time entrepreneurs with innovative business ideas by matching $5 to every $2 raised by the entrepreneur for up to $50,000. Through SSGF, first-time founders can access funding through a startup grant and mentorship from Accredited Mentor Partners (AMPs). This includes pitch training, networking opportunities with investors and corporates, secretarial and accounting support, and access to exclusive programmes
Are you Eligible?
- Are first-time founders (i.e. have no prior Private Limited entity on ACRA)
- Are key decision makers and contribute meaningfully to the company
- Are not employed externally and who are able to commit full time to the company
- External employment is where employers, contribute CPF for their employees (apart from the entity recipient of the Startup SG Founder grant). Full-time National Service is considered employment.
- Full time commitment is not fulfilled if applicant is engaged in studies or part-time work (i.e. Students with ongoing academic commitments are not considered full-time committed to the company)
- Have undergone entrepreneurship training
- Entrepreneurship training refers to a structured course or programme that teaches the fundamental frameworks and processes of entrepreneurship. It can cover core content that includes (but is not limited) to the following:
- Venture creation process, value proposition
- Lean methodology, business canvas model
- Market analysis and validation
- Business model, pricing strategy and go-to-market
- Customer journey, prototyping and product roadmap
- Intellectual Property and competitive strategy
- Financials and cash-flow
- Pitching and fundraising, valuation
- Entrepreneurship training refers to a structured course or programme that teaches the fundamental frameworks and processes of entrepreneurship. It can cover core content that includes (but is not limited) to the following:
- Hold equity in the company, with a minimum of 30% collectively
The company must
- Not have received funding from another government organisation (for the same business idea)
- Not have received the SSGF grant before
- Have minimum 51% of issued shares are owned by SC/PR
- Be registered as a private limited entity in Singapore for less than 6 months*
- Invest a co-matching amount of S$20,000 as paid-up capital on ACRA
- Have at least $10,000 as paid-up capital on ACRA at the point of application to EnterpriseSG.
- Not have a proposed business idea that falls under the list provided below
- Cafes, restaurants, night clubs, lounges, bars, foot reflexology, massage parlours, gambling, prostitution, social escort services, employment agencies (including recruiting foreign work permit holders and workers/support staff, relocation services, and manpower services), and geomancy.
*If you have not incorporated your company yet, please speak to the AMPs for advice before doing so.
If you are interested in applying for the Startup SG Founder Programme, please ensure that you have the following documents ready:Â
- AMP Recommendation Letter
- Pitch deck containing your business plansÂ
- CVs of all main applicants
- Scanned NRICs of all main applicantsÂ
- ACRA Profiles of all main applicantsÂ
- ACRA Profiles of your incorporated company
To apply click here to redirect you to the Startup SG Founder Application
Please refer to this FAQ document for a list of frequently asked questions compilied by Enterprise Singapore