A Comprehensive Guide to Startup SG Schemes and Grants in Singapore 

Startup SG is an initiative by the Singapore government that aims to provide support and resources to entrepreneurs and startups. It comprises several schemes and grants that offer financial assistance, mentorship, and networking opportunities to help startups grow and scale. 

Startup SG plays a vital role in fostering entrepreneurship in Singapore. By providing funding and resources, it helps to lower the barriers to entry for new businesses and encourages more individuals to pursue their entrepreneurial ambitions. This, in turn, contributes to the growth and diversification of Singapore’s economy and creates new job opportunities. 

Startup SG Overview 

What is Startup SG? 

Startup SG is an initiative by the Singapore government that aims to provide support and resources to entrepreneurs and startups to help them grow and scale. It comprises several schemes and grants that offer financial assistance, mentorship, and networking opportunities to startups. 

Objectives:  

The primary objectives of Startup SG are to: 

1. Foster entrepreneurship in Singapore: By providing support and resources to entrepreneurs and startups, Startup SG aims to encourage more individuals to pursue their entrepreneurial ambitions and start their own businesses. 
2. Build a vibrant startup ecosystem: Startup SG aims to build a vibrant and sustainable startup ecosystem in Singapore that supports innovation, creativity, and growth. 
3. Attract and retain entrepreneurial talent: Startup SG aims to attract and retain entrepreneurial talent in Singapore by providing a conducive environment for startups to thrive. 

Benefits:  

The benefits of Startup SG for entrepreneurs and startups include: 

1. Access to funding: Startup SG provides various grants and loans that can help startups finance their operations, research and development, and expansion plans. 
2. Mentorship and guidance: Startup SG provides startups with access to experienced mentors and industry experts who can provide valuable guidance and advice. 
3. Networking opportunities: Startups under Startup SG have access to various networking events and opportunities, which can help them connect with potential customers, partners, and investors. 
4. Infrastructure and resources: Startup SG provides startups with access to infrastructure and resources that can help them build and test their products, such as co-working spaces and research facilities. 
5. Recognition and validation: Being part of Startup SG can give startups a sense of recognition and validation, which can help them attract more customers, partners, and investors. 

Startup SG Founder 

Startup SG Founder is a scheme under the Startup SG initiative that provides early-stage funding and mentorship to first-time entrepreneurs in Singapore. The scheme aims to help aspiring entrepreneurs kick-start their business ideas and turn them into viable startups. 

Eligibility Criteria:  

To be eligible for Startup SG Founder, applicants must meet the following criteria: 

• The applicant must be a first-time entrepreneur starting a new business venture. 
• The applicant must be a Singapore Citizen or Permanent Resident. 
• The applicant must hold at least 30% equity in the company. 
• The applicant’s proposed business must have innovative or intellectual property-driven business ideas with a scalable business model. 

Benefits:  

Startups under Startup SG Founder are eligible for the following benefits: 

• Funding: Startups can receive up to S$30,000 in funding for proof-of-concept and up to S$500,000 in funding for product development. 
• Mentorship: Startups under Startup SG Founder can access mentorship and guidance from experienced industry mentors. 
• Network: Startups can attend networking events and connect with potential investors, customers, and partners. 
• Business Support: Startups can receive business support services such as incorporation, legal and accounting services, and marketing and branding support. 

Funding and Mentorship Support:  

Startup SG Founder provides funding and mentorship support to eligible startups in the following stages: 

1. Proof-of-Concept: Startups can receive up to S$30,000 in funding to conduct research and develop a proof-of-concept for their business idea. 
2. Product Development: Startups can receive up to S$500,000 in funding to develop their product or service and bring it to market. 

In addition to funding, Startup SG Founder provides mentorship support from experienced industry mentors. The mentors can provide guidance on various aspects of running a business, such as strategy, operations, and marketing. 

Overall, Startup SG Founder is an excellent scheme for aspiring entrepreneurs who are starting their first business venture. It provides much-needed funding and mentorship support, which can help them to turn their business ideas into viable startups. 

Startup SG Tech 

Startup SG Tech is a scheme initiated by the Singapore government to support tech startups in Singapore. The objective of the scheme is to help these startups develop their technology and intellectual property (IP) through early-stage funding and support. 

Eligibility Criteria:  

To be eligible for Startup SG Tech, startups must fulfill the following criteria: 

• Must be registered and operating in Singapore 
• Must have a minimum of 30% local shareholding 
• Must have an innovative tech product or service 
• Must be a new startup, with no more than 5 years since incorporation 

Types of Support:  

Startup SG Tech provides two types of support: 

1. Proof-of-Concept (POC) Grant: This grant is meant to support early-stage research and development for startups. It can provide up to S$250,000 in funding to cover up to 100% of the qualifying costs. 
2. Early-Stage Venture (ESV) Funding: This funding is meant to support startups in their pre-Series A stage. It can provide up to S$3 million in funding, with the government matching $3 for every $1 raised by the startup. 

In addition to the above, startups under Startup SG Tech can also access mentorship, training, and networking opportunities to help them grow and succeed. These opportunities are provided by partner organizations, such as accelerators and incubators. 

Overall, Startup SG Tech is an excellent initiative that provides startups with the necessary resources and support to accelerate their growth and success. 

Startup SG Talent 

Startup SG Talent is a scheme by the Singapore government aimed at supporting the growth and development of startups by providing them with the necessary talent. 

Eligibility Criteria:  

Startups that are eligible for the Startup SG Talent program must meet the following criteria: 

• Must be a registered business entity in Singapore 
• Must have at least 30% local shareholding 
• Must not be more than five years old since incorporation 
• Must not have more than 200 employees 

Types of Support:  

The Startup SG Talent program provides the following types of support to startups: 

1. Talent recruitment: The program provides funding to startups for talent recruitment, including executive positions, technical roles, and other specialized positions. 
2. Talent development: Startups can access training programs, such as management training and leadership development, to upskill their employees and build a strong talent pipeline. 
3. Talent retention: The program also provides support for startups to retain their top talent by offering attractive remuneration packages, such as share options and bonuses. 

In addition to the above, startups under Startup SG Talent can also access mentorship, training, and networking opportunities to help them grow and succeed. These opportunities are provided by partner organizations, such as accelerators and incubators. 

Overall, Startup SG Talent is an excellent initiative that provides startups with the necessary resources and support to accelerate their growth and success. By providing startups with the right talent, they can build a sturdy foundation for their business and drive innovation and growth. 

Startup SG Network 

Startup SG Network is a community-based initiative to create a supportive and collaborative network for entrepreneurs and startups in Singapore. The program brings together a range of stakeholders, including entrepreneurs, investors, mentors, and service providers, to foster innovation and drive growth in the startup ecosystem. 

Eligibility criteria: 

Eligibility criteria for the Startup SG Network are broad and inclusive, and anyone who is interested in entrepreneurship and innovation can participate. The program is open to both individuals and organizations, including startups, investors, mentors, and service providers. 

Benefits and support:

The benefits and support provided by the Startup SG Network are numerous and varied. The program offers a range of resources and opportunities to help entrepreneurs and startups grow and succeed, including: 

1. Networking opportunities: The Startup SG Network provides entrepreneurs and startups with opportunities to connect with other like-minded individuals and organizations in the ecosystem, including investors, mentors, and service providers. 
2. Events and workshops: The program hosts regular events and workshops on assorted topics related to entrepreneurship and innovation, providing startups with access to valuable insights and knowledge from industry experts. 
3. Mentorship and coaching: The program offers mentorship and coaching services to startups, connecting them with experienced entrepreneurs and business leaders who can provide guidance and support. 
4. Funding opportunities: The Startup SG Network helps startups access funding by connecting them with potential investors and providing access to government grants and other financial resources. 
5. Community support: The program fosters a supportive and collaborative community of entrepreneurs and startups, providing startups with access to a range of resources and support services. 

Overall, the Startup SG Network is an important initiative in the Singaporean startup ecosystem, providing entrepreneurs and startups with a range of valuable resources and support services to help them grow and succeed. 

Startup SG Accelerator 

Startup SG Accelerator is a program under the Startup SG umbrella that provides support and resources to early-stage startups in Singapore. Here is an overview of the program and its eligibility criteria: 

Enterprise Singapore manages Startup SG Accelerator, which provides startups with mentorship, funding, and access to networks to accelerate their growth and achieve success. 

Eligibility criteria:  

To be eligible for the Startup SG Accelerator program, a startup must meet the following criteria: 

1. The startup must be registered and based in Singapore. 
2. The startup must have a unique business idea with a strong potential for growth and scalability. 
3. The startup must have a committed team with the necessary skills and experience to execute the business plan. 
4. The startup must have a minimum viable product or service that has been validated by customers. 
5. The startup must be willing to participate fully in the program and work closely with the program’s mentors and resources. 

Types of support:  

Startups that are accepted into the Startup SG Accelerator program will receive a range of support and resources, including: 

1. Mentorship: Startups will be paired with experienced mentors who can provide guidance and advice on various aspects of the business, including product development, marketing, and fundraising. 
2. Funding: Startups will have access to funding from Enterprise Singapore and other partner organizations, including venture capital firms and angel investors. 
3. Workshops and training: Startups will have access to a range of workshops and training sessions on topics such as marketing, fiscal management, and product development. 
4. Networking opportunities: Startups will have the opportunity to meet and network with other entrepreneurs, investors, and mentors in the startup community. 
5. Infrastructure support: Startups may be eligible for support in areas such as office space, equipment, and technology. 

Overall, the Startup SG Accelerator program is a valuable resource for early-stage startups in Singapore, providing them with the support and resources they need to accelerate their growth and achieve success. 

Startup SG Infrastructure 

Startup SG Infrastructure is a program under the Startup SG umbrella that provides infrastructure support to startups in Singapore. Here is an overview of the program and its eligibility criteria: 

Enterprise Singapore manages Startup SG Infrastructure, a program that provides affordable and flexible office and industrial space, along with other infrastructure resources, to help startups access them. 

Eligibility criteria:  

To be eligible for the Startup SG Infrastructure program, a startup must meet the following criteria: 

1. The startup must be registered and based in Singapore. 
2. The startup must have a clear business plan and a strong potential for growth. 
3. The startup must have a minimum viable product or service that has been validated by customers. 
4. The startup must have a committed team with the necessary skills and experience to execute the business plan. 
5. The startup must demonstrate a need for infrastructure support to further its growth. 

Types of support:  

Startups that are accepted into the Startup SG Infrastructure program will receive a range of infrastructure support, including: 

1. Office and industrial space: Startups can apply for affordable and flexible office and industrial space at various locations in Singapore. 
2. Shared facilities: Startups can access shared facilities such as meeting rooms, event spaces, and co-working spaces. 
3. Technology and equipment: Startups can access technology and equipment such as high-speed internet, 3D printers, and prototyping tools. 
4. Business services: Startups can access a range of business services such as legal and accounting advice, marketing and branding services, and human resources support. 
5. Networking opportunities: Startups will have the opportunity to meet and network with other entrepreneurs, investors, and mentors in the startup community. 

Overall, the Startup SG Infrastructure program is a valuable resource for startups in Singapore, providing them with affordable and flexible infrastructure support to help them grow and succeed. 

Startup SG Equity 

Startup SG Equity is a scheme under the Startup SG initiative that provides equity financing to eligible startups in Singapore. This scheme is designed to help startups raise capital and grow their businesses by providing funding in the form of equity investments. 

Eligibility criteria:  

To be eligible for the Startup SG Equity scheme, startups must meet the following criteria: 

1. Be incorporated as a private limited company in Singapore 
2. Have a minimum of 30% local shareholding 
3. Have a maximum group revenue of S$100 million or a full group employment of 200 employees 

Types of Startup SG Equity Scheme: 

There are two types of equity financing provided under the Startup SG Equity scheme: co-investment and matching investment. 

1. Co-investment: Under this type of equity financing, startups will receive funding from both private investors and the government. The government’s share of the investment can range from 7.5% to 50% of the total investment amount, with a maximum government investment of S$4 million per startup. 
2. Matching investment: Under this type of equity financing, the government will match the investment made by private investors, up to a maximum government investment of S$2 million per startup. 

Startups can use the funding provided by Startup SG Equity for various purposes, such as product development, hiring talent, and expanding their operations. Additionally, the scheme provides startups with access to a network of investors and mentors who can provide guidance and support. 

In summary, Startup SG Equity is a valuable scheme for eligible startups in Singapore looking to raise equity financing. By providing funding and access to a network of investors and mentors, this scheme can help startups grow and succeed. 

Startup SG Loan 

Startup SG Loan is a financing scheme offered by the Singaporean government to support startups in their preliminary stages of development. This scheme provides financing of up to S$5 million with interest rates as low as 3% per annum. 

Eligibility criteria:  

To be eligible for the Startup SG Loan, startups must meet the following criteria: 

• Registered and operating in Singapore 
• Have at least 30% local shareholding 
• Have an annual turnover of less than S$100 million or have fewer than 200 employees 

Types of Startup SG Loan: 

There are two types of loans available under the Startup SG Loan scheme: the SME Working Capital Loan and the Equipment and Factory Loan. 

The SME Working Capital Loan: 

The SME Working Capital Loan is designed to help startups with their day-to-day operational expenses, such as rent, salaries, inventory, and other working capital needs. The loan amount can range from S$10,000 to S$1 million, with a repayment period of up to five years. The interest rate is fixed at 3% per annum. 

The Equipment and Factory Loan 

The Equipment and Factory Loan is intended to assist startups in purchasing new equipment or upgrading their existing machinery. The loan amount can range from S$10,000 to S$5 million, with a repayment period of up to ten years. The interest rate is fixed at 3% per annum for the first three years and may be subject to revision thereafter. 

The Startup SG Loan scheme is a valuable resource for startups looking to secure financing at favorable interest rates. By taking advantage of this scheme, startups can access the funding they need to grow and succeed in today’s competitive business landscape. 

Startup SG Investor  

Startup SG Investor is an initiative by the Singaporean government that provides funding opportunities for startups through accredited investors. The aim of this scheme is to encourage more private-sector investment in Singaporean startups and to facilitate the growth of a vibrant startup ecosystem in the country. 

Eligibility criteria:  

To be eligible for the Startup SG Investor scheme, startups must meet the following criteria: 

• Registered and operating in Singapore 
• Have at least 30% local shareholding 
• Have a maximum of S$500,000 in paid-up capital 

Types of Startup SG Investors: 

There are two types of investors available under the Startup SG Investor scheme: the Accredited Investor and the Angel Investor. 

The Accredited Investor: 

The Accredited Investor is an individual or organization that meets specific requirements set by the Monetary Authority of Singapore (MAS) for investing in private securities. Accredited investors are required to have a minimum net personal asset of S$2 million or a minimum annual income of S$300,000. 

The Angel Investor: 

The Angel Investor is an individual who invests in startups in their pilot stages of development. Angel investors are typically experienced entrepreneurs or business leaders who provide capital and mentorship to startups. The maximum investment amount for Angel Investors is S$500,000. 

The Startup SG Investor scheme provides startups with access to a network of investors who can provide funding and expertise to help them grow and scale their businesses. By participating in this scheme, startups can gain valuable connections and resources that can help them succeed in the competitive world of entrepreneurship. 

Bullet Points: 

Startup SG Schemes and Grants in Singapore 

Startup SG comprises various schemes and grants, including: 

• Startup SG Founder: This scheme aims to support first-time entrepreneurs in Singapore by providing them with mentorship and financial assistance of up to $30,000. 
• Startup SG Tech: This grant supports the development and commercialization of proprietary technology solutions by startups. It provides funding of up to $500,000 to cover qualifying costs such as workforce, equipment, and software. 
• Startup SG Equity: This scheme aims to catalyze private-sector investments into startups. It co-invests with qualified third-party investors into eligible startups, with the government matching the amount of private-sector investment up to $2 million. 
• Startup SG Accelerator: This program helps early-stage startups accelerate their growth by providing funding of up to $50,000 to participate in an approved accelerator program. 
• Startup SG Talent: This scheme supports startups in their talent acquisition efforts by providing them with access to a database of local and foreign candidates. 

How to Apply for Startup SG Schemes and Grants? 

Applying for Startup SG schemes and grants is a straightforward process, and it starts with identifying the scheme or grant that best suits your startup’s needs and eligibility criteria. Once you have determined the scheme or grant that you want to apply for, follow these steps: 

1. Check the application requirements: Each scheme or grant has specific application requirements. Ensure that you meet all the eligibility criteria and have all the necessary documents and information before you begin the application process. 
2. Prepare the necessary documents: Typical documents required for Startup SG applications include a business plan, financial projections, and company registration documents. Ensure that these documents are comprehensive and accurate, and demonstrate the viability of your startup. 
3. Submit your application: The application process and submission requirements vary depending on the scheme or grant. Accredited Mentor Partners (AMPs) accept and process Startup SG Founder applications, whereas Enterprise Singapore handles and processes Startup SG Tech applications. Be sure to read the instructions carefully and submit your application within the deadline. 
4. Wait for a response: After submitting your application, the relevant agency or partner will review your application and inform you of their decision. If your application is successful, you will receive a grant or scheme benefits. 

Tips for a Successful Application 

To increase your chances of securing a Startup SG grant or scheme, here are some tips to keep in mind: 

1. Have a clear and compelling business plan that outlines your startup’s mission, goals, and growth strategies. 
2. Demonstrate a strong understanding of your target market and how your startup addresses their needs. 
3. Show evidence of traction, such as revenue growth or user acquisition, to prove the viability of your startup. 
4. Have a dedicated team with relevant experience and skills to execute your business plan. 
5. Ensure that your application is complete, accurate, and submitted within the deadline. 

By following these steps and tips, you can increase your chances of securing a Startup SG grant or scheme and take your startup to the next level. 

If you have any questions or need further guidance on applying for Startup SG schemes and grants, you can visit the official Startup SG website (https://www.startupsg.gov.sg/) or contact the relevant agency or partner directly. 

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