The following is a list of grants and schemes provided by the Singapore government for eligible startups based in Singapore.
ACE Startups Grant
The Action Community for Entrepreneurship (ACE) Startups Grant is a financial assistance grant that is administered by SPRING Singapore, a government agency tasked to help Singapore enterprises grow and build trust in Singapore-made products and services.
Startups interested in applying for the grant will be evaluated based on 4 criteria – differentiation, business model feasibility, potential market opportunity and management team. Successful applicants would be eligible for a $7 match by SPRING for every $3 raised by the entrepreneur for up to SGD$50,000.
The grant is disbursed in 2 to 3 tranches depending on whether the startup is able to reach the pre-determined milestones. SPRING would also match the startup with a mentor that would guide the company towards a sustainable growth during its first year of operations. SPRING does not take any equity in the business.
ComCare Enterprise Fund (CEF)
The ComCare Enterprise Fund (CEF) is a fund administered by the Ministry of Social and Family Development (MSF) to provide seed funding for social enterprise startups focused on providing social services to the society. CEF-approved startups are required to enter a 3-year contract with MSF, where the fund will cover up to 80% of the total project cost (capital expenditure + first two years of operating costs) up to a maximum of SGD$300,000.
Technology Enterprise Commercialisation Scheme (TECS)
The Technology Enterprise Commercialisation Scheme (TECS) is an early-seed funding scheme administered by SPRING Singapore. The scheme focuses on funding the developmental efforts of tech-focused startups towards commercialising their propriety technology solutions. There are two grants available under TECS:
1. Proof-of-Concept (POC) Project
For startups whose technological solutions are still at the conceptualisation stage. This grant would cover up to 100% of qualifying cost, up to a maximum of SGD$250,000
2. Proof-of-Value (POV) Project
For startups who wish carry out further research and development of a working prototype to validate that the technology solution is commercially viable. This grant would cover up to 85% of qualifying cost, up to a maximum of SGD$500,000
iSTART: Accelerating & Catalysing Entrepreneurship (ACE)
The iSTART: Accelerating & Catalysing Entrepreneurship (ACE) grant is administered by the Infocomm Development Authority of Singapore (IDA) for startups to accelerate their technology commercialisation and catalyse go-to market activities by leveraging on established technologies. The grant covers up to 50% of technical staff salaries, up to a maximum of SGD$200,000. The funding support lasts for one year.
Early-Stage Venture Funding Scheme (EVFS)
The Early-Stage Venture Funding Scheme (EVFS) is administered by the National Research Foundation (NRF), a department within the Prime Minister’s Office that aims to transform Singapore into a vibrant research & development (R&D) hub through strategic policies and initiatives in research, innovation and enterprise.
EVFS would match dollar-for-dollar (up to a maximum of SGD$10 million) for selected venture capital firms that has raised a minimum of SGD$10 million from third party investors. The venture capital firms are selected for their investments in Singapore-based high-tech startups.
SPRING Startup Enterprise Development Scheme (SPRING SEEDS)
SPRING SEEDS is an equity investment scheme administered by SPRING SEEDS Capital, a subsidiary of SPRING Singapore. The scheme provides co-investment with independent third party investor/s in innovative and commercially viable startups.
The scheme would match dollar-for-dollar for the sum invested by the third party investor/s into the eligible startup, up to a maximum of SGD$2 million. Both SPRING SEEDS Capital and the third party investor/s will take equity stakes in the startup, proportionate to their investment value.
Business Angel Scheme (BAS)
BAS is an equity investment scheme administered by SPRING SEEDS Capital, a subsidiary of SPRING Singapore. Startups with innovative products and services that has obtained commitment from a business angel investor may apply for the scheme that matches the investment committed dollar-for-dollar, up to a maximum of SGD$2 million. Both SPRING SEEDS Capital and the business angel investor/s will take equity stakes in the startup, proportionate to their investment value.
The Increase SME Productivity with Infocomm Adoption & Transformation (iSPRINT) scheme is administered by the Infocomm Development Authority of Singapore (IDA) to encourage technological development in startups and SMEs based in Singapore. Eligible startups are provided grants of up to 70% of the qualifying cost of the startups’ first-time computerisation processes.
Sector Specific Accelerator (SSA) Programme
The Sector Specific Accelerator (SSA) programme is an initiative by the government under the Research, Innovation and Enterprise (RIE) 2015 plan to encourage the formation and growth of Singapore-based medical technology startups through its appointed accelerators. With a commitment of SGD$70 million, SPRING SEEDS Capital, the investment arm of SPRING Singapore, would co-invest with the appointed accelerators dollar-for-dollar on potential startups.
Business Improvement Fund (BIF)
The Business Improvement Fund is administered by the Singapore Tourism Board (STB) to encourage tourism-focused companies to improve on the productivity, competitiveness and consumer experience of the tourism industry. Eligible companies would be funded up to 70% of their qualifying cost.
Fast-Track Environmental and Water Technologies Incubator Scheme (Fast-Tech)
Fast-Tech is a programme administered by the Environment and Water Industry Programme Office (EWI) that provides support for startups to commercialise environmental and water technologies. Eligible startups will be funded for a period of two years up to SGD$300,000 or up to 85% support level (whichever is lower). Startups will also be housed in sector-related incubators that will provide guidance and mentorship. Both SPRING SEEDS The designated incubator will take an equity stake in the startup.