Startup SG Founder provides mentorship and startup capital grant to first-time entrepreneurs with innovative business ideas. SPRING will match $3 for every $1 raised by the entrepreneur.
SPRING has appointed Accredited Mentor Partners (AMP) that will identify qualifying applicants based on the uniqueness of business concept, feasibility of business model, strength of management team, and potential market value. Upon successful application, the AMP will assist the startups with advice, learning programs and networking contacts.
Apply for Startup SG Founder through an Accredited Mentor Partner (AMP). Applicants will need to complete the Startup SG Founder Application Form and submit it to their selected AMP for consideration. If the AMP assesses that the applicant has met the eligibility and evaluation criteria, the AMP can recommend the application to SPRING, together with appropriate milestones for disbursement of grant amounts. SPRING will inform the applicant and AMP on the application status for the grant.
The grant is open to all Singaporeans/Permanent Residents who are first-time entrepreneurs. In addition, the applicant would need to adhere to the following conditions at the time of application:
- Applicant(s) must hold or propose to hold at least 30% equity in the underlying company;
- The company must have at least 51% of local shareholding and not be incorporated for more than six (6) months at the point of application to SPRING;
- The applicants must not have-
- registered or incorporated any business entity; and
- received any funding for the proposed business idea from another government organisation
Approved applicants must dedicate a reasonable amount of their time on the business and must be a key decision maker in the company. The applicants must also commit full-time to the company and not be in any other employment from the time they accept the terms and conditions of the Letter of Offer.
Startup SG Founder can only be applied for through an Accredited Mentor Partner (AMP). The list of AMPs is available on the “Partners” tab.
Incomplete applications will not be addressed.
The list of documents required are:
- Completed and signed application form
- ACRA e-statement (to declare that main applicant is a first time entrepreneur)*
- Business plans, CVs of management team (Optional)
* You do not need to incorporate a company to apply for this grant, otherwise it should not be incorporated for more than six (6) months at the point of application to SPRING.
SPRING conducted a Call-for-Partnership to appoint Startup SG Founder Accredited Mentor Partners (AMPs) from 22 March 2017 to 17 April 2017.
AMPs will be assessed on the strength of their incubation and management team, programme quality and operational sustainability. This would include the AMPs’ track record grooming startups, overall quality of mentors as well as their access to markets and funding.
If your organisation is interested to be an appointed AMP, please note that there will be annual calls for partnership. The next call is scheduled at the end of 2017.
The AMPs are:
|Incubator||Company||Focus Areas||Contact information
|1||Action Community For Entrepreneurship (ACE) Ltd.||Action Community For Entrepreneurship (ACE) Ltd.||Sector firstname.lastname@example.org|
|2||Advanced New Technology Incubator (ANTI)||ANTI Pte. Ltd.||Hardware, robotics, email@example.com|
|3||Focustech Ventures||Focustech Ventures Pte Ltd||IoT, advanced manufacturing, robotics, AI/ML, AR/VRfirstname.lastname@example.org|
|4||JCS Venture Lab||JCS Venture Lab Pte. Ltd||Advanced manufacturing and email@example.com.|
|5||NTUitive||Nanyang Technological University – Ntuitive Pte. Ltd.||Advanced manufacturing and engineering, health and biomedical sciences, urban solutions and sustainability, services and digital firstname.lastname@example.org|
|6||NUS Enterprise||NUS Ventures Pte. Ltd.||IoT, Deep Tech, AI, fintech, hardware, email@example.com|
|7||SMU IIE||Singapore Management University||Fintech, cyber security, data analytics, Smart City firstname.lastname@example.org|
|8||Quest Ventures||QuestVC Pte. Ltd.||Digital email@example.com|
|9||AIRmaker||RIA Venture Capital Pte. Ltd.||IoT (in the area of smart cities and digital health)||firstname.lastname@example.org|
|10||TAGPASS||Singapore Innovate Pte. Ltd.||Sector-specific AI, big data and IoT email@example.com|
|11||Spaze Ventures||Spaze Ventures Pte. Ltd.||Financial Services/fintech, healthcare, education, e-commerce, logistics, big data, enterprise solutions, IoTfirstname.lastname@example.org|
|12||The FinLab||The Finlab Pte. Ltd.||Fintechemail@example.com|
|13||TNB Ventures||TNB Ventures Pte. Ltd.||IoT, AR/VR, robotics, machine learning/AIfirstname.lastname@example.org|
|14||Trendlines Medical||Trendlines Medical Singapore Pte. Ltd.||Medical devices, medical email@example.com|
|15||Tri5 Ventures||Tri5 Accelerator Pte. Ltd.||IP commercialisation, fintech, data firstname.lastname@example.org|
|16||Velocity Accelerator||Velocity Accelerator Pte. Ltd.||FinTech, security, healthtech, edtech, agritech, big email@example.com|
|17||Consortium appointment||Led by Ngee Ann Polytechnic, the consortium comprises members including Singapore Polytechnic and Temasek Polytechnic and will support startups through Pollinate, a Joint Polytechnic Incubator Initiative||General firstname.lastname@example.org|