StartupSG Founder

Overview

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.

Eligibility

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:

  1. Applicant(s) must hold or propose to hold at least 30% equity in the underlying company;
  2. 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;
  3. The applicants must not have-
    1. registered or incorporated any business entity; and
    2. 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.

Apply

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:

  1. Completed and signed application form
  2. ACRA e-statement (to declare that main applicant is a first time entrepreneur)*
  3. 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.

 

Partners

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: Action Community For Entrepreneurship (ACE) Ltd.
Company: Action Community For Entrepreneurship (ACE) Ltd.
Contact information amp@ace.org.sg Services offered in kind

  • Mentorship
  • Business and funding networks
  • Priority invites to ACE’s programmes and initiatives
Sector focus Sector Agnostic
Possible investment No
Possible equity Yes
Incubator: Advanced New Technology Incubator (ANTI)
Company: ANTI Pte. Ltd
Contact information hello@anti.com.sg Services offered in kind

  • Co-working/incubation space
  • Machining
  • Engineering
  • Design and testing
  • Manufacturing and assembly
  • Prototyping
  • Shared services (e.g. finance, web design)
Sector focus Hardware, robotics, automation
Possible investment Yes
Possible equity Yes
Incubator: Focustech Ventures
Company: Focustech Ventures Pte Ltd
Contact information amp@focustechventures.com Services offered in kind

  • Free hosting credits (AWS & Softlayer)
  • Payment credits (Paypal & Braintree)
  • Discounted prototyping & engineering support (software & hardware NRE)
Sector focus IoT, advanced manufacturing, robotics, AI/ML, AR/VR
Possible investment Yes
Possible equity Yes
Incubator: JCS Venture Lab
Company: JCS Venture Lab Pte. Ltd.
Contact information enquiry@jcsvl.com.sg Services offered in kind

  • Talent resource from JCS Group (Engineers, Industrial and Graphic Designers etc)
  • Advisory from founders and mentors
  • Back office functions (Accounting, Liaison with Corporate Secretary, Human Resource, and other administrative matters)
  • Office Space at Science Park, Prototyping and Assembly Space at Woodlands, Inventory or Warehouse Space at Woodlands
Sector focus Advanced manufacturing and engineering
Possible investment Yes
Possible equity Yes
Incubator: NTUitive
Company: Nanyang Technological University – Ntuitive Pte.Ltd.
Contact information ntuitiveinfo@ntuitive.sg Services offered in kind

  • Business Mentorship
  • Grant Advisory
  • Legal Clinic
  • Publicity Support
  • Event Support
  • Market Access Support
Sector focus Advanced manufacturing and engineering, health and biomedical sciences, urban solutions and sustainability, services and digital economy
Possible investment No
Possible equity No
Incubator: NUS Enterprise
Company: NUS Ventures Pte. Ltd.
Contact information enterprise@nus.edu.sg Services offered in kind

  • Mentorship
  • General advice on corporate secretarial, accounting, legal matters.
  • Networking
  • Workshop, seminars, business clinics
Sector focus IoT, Deep Tech, AI, fintech, hardware, software
Possible investment Yes
Possible equity Yes
Incubator: SMU Institute of Innovation & Entrepreneurship (IIE)
Company: Singapore Management University
Contact information iie@smu.edu.sg Services offered in kind

  • Downtown Co-working Space at SMU
  • Professional Services and Resources Support e.g. Legal, Accounting, Cloud Hosting
  • Mentor Office Hours
  • Entrepreneur-in-Residence
  • Founders’ Masterclass Series
  • Support to participate in Overseas Startup Competitions
  • Support to attend industry Events and Exhibitions
  • Facilitated access to startup talents, SMU interns, and professorial support from SMU
  • Demo Day
  • Access to Investors Network
  • Invitation to Networking Events
  • Startup Events
Sector focus Fintech, cyber security, data analytics and artificial intelligence, Smart City innovations, transportation and logistics
Possible investment Yes
Possible equity No
Incubator: Quest Ventures
Company: QuestVC Pte. Ltd
Contact information amp@questventures.com Services offered in kind
Please visit the Quest Ventures website to view the full list of Quest Family Benefits.

Sector focus Digital commerce
Possible investment Yes
Possible equity Yes
Incubator: AIRmaker
Company: RIA Venture Capital Pte. Ltd.
Contact information ask@airmaker.sg Services offered in kind

  • Free co-working space
Sector focus IoT (in the area of smart cities and digital health)
Possible investment Yes
Possible equity Yes
Incubator: Spaze Ventures
Company: Spaze Ventures Pte. Ltd.
Contact information info@startupspaze.com Services offered in kind

  • AWS credits
  • Google Cloud Platform (GCP and Firebase credits)
  • Braintree (preferential rates for Spaze portfolio)
  • Ambition (hiring / talent acquisition) (preferential rates for Spaze portfolio)
  • Discounts / Perks from Corporate Partners (for Spaze portfolio)
  • Company incorporation
  • Digital marketing services
  • Accounting
Sector focus Financial Services/fintech, healthcare, education, e-commerce, logistics, big data, enterprise solutions, IoT
Possible investment Yes
Possible equity Yes
Incubator: The FinLab
Company: The Finlab Pte. Ltd.
Contact information info@thefinlab.com Services offered in kind

  • Co-working space
  • Software credits
  • Mentorship
  • Networking events
Sector focus Fintech
Possible investment Yes
Possible equity Yes
Incubator: TNB Ventures
Company: TNB Ventures Pte. Ltd.
Contact information applications@tnb.vc Services offered in kind

  • Free office working space
  • Providing infrastructure combined support of >$200,000 worth of credits (including Stripe, Amazon web services, IBM Global Entrepreneur, Funbie studios, Microsoft BizSpark and FbStart from Facebook)
  • Access to our network of corporate partners within Smart City (please contact for further information)
  • Participate in our corporate innovation program where relevant startups/technologies are matched to our corporate partners with specific needs/challenge areas
  • Go-to-market platform for startup to commercialise and testbed/pilot solutions
  • Part of the corporate innovation program includes pitching directly to the demand-drivers at Demo Day, mentorship from industry experts and networking with potential business partners
  • Guidance from our established network of over 30 mentors including established entrepreneurs, business leaders, industry veterans and technologists
  • Invitations to our host of many workshop and networking events
Sector focus IoT, AR/VR, robotics, machine learning/AI
Possible investment Yes
Possible equity Yes
Incubator: Trendlines Medical
Company: Trendlines Medical Singapore Pte. Ltd.
Contact information info-med-singapore@trendlines.com Services offered in kind

  • mentorship and support
  • technology development
  • business development
  • clinical and regulatory strategies
  • finance
  • marketing communications support
  • Help to prepare and achieve fundraising in support of startup’s corporate development plans
Sector focus Medical devices, medical technology
Possible investment Yes
Possible equity Yes
Incubator: Tri5 Ventures
Company: Tri5 Accelerator Pte. Ltd.
Contact information http://tri5.asia/co-investment-sg-grant/ Services offered in kind

  • Business and Technical mentorship from 60+ mentors on NEXT50.sg network
  • Go-to-market entry into Malaysia and Vietnam
  • Networking connections to programmers in SG and VN
Sector focus Fintech, Energy Tech, Education Tech, Marketplaces (outside SG)
Possible investment Yes
Possible equity Yes
Incubator: Velocity Accelerator
Company: Velocity Accelerator Pte. Ltd.
Contact information sa@acpven.com Services offered in kind
NIL

Sector focus FinTech, security, healthtech, edtech, agritech, big data
Possible investment Yes
Possible equity Yes
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
Contact information pollinate@np.edu.sg Services offered in kind

  • Talent Support
  • Mentorship
  • Overseas Support (where possible)
  • Networking
  • Seminars & Workshops
Sector focus General tech
Possible investment No
Possible equity No

Resources


Here are the resources available for Startup SG Founder.

Startup SG Founder application form – Excel, 120kb

Startup SG Founder FAQ – Doc, 55kb