Top 7 Singapore Grants for Companies

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Top 7 Government Grants for Singapore Companies
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1. ACE Start-ups
SPRING Singapore is a government agency. It
administers the ACE Startups Scheme for the
first-time entrepreneurs having an innovative
idea. The scheme provides mentor-ship support and
startup capital grant. The Accredited Mentor
Partners (AMPs) select applicants. The AMP
supports the startups with advice, learning
programs, and networking contacts. Eligibility
First-time entrepreneurs who are Singaporean or
Permanent Residents are qualified for the scheme.
The criterion for the selection is the uniqueness
of business concept, business model feasibility,
management team, and potential market value. How
It Works For your every 3, you will get 7
under ACE. The startup funding Singapore under
ACE scheme is capped at 50,000.
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2. Capability Development Grant
The Capability Development Grant (CDG) is a
scheme for providing financial assistance to
startups for building capabilities in ten
business areas. They include consultancy, cost of
certification, and costs of equipment, and
training. SPRING supports startups that are eager
to develop new products under the CDG. They can
apply for the grant of up to 70 of costs for new
product design, development, and manufacturing
processes. Eligibility Any Small Medium
Enterprise incorporated operating in
Singapore How It Works Startups can qualify for
up to 70 of CDG. The grant is capped at
30,000.
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3. Early-Stage Venture Funding
The Early Stage Venture Fund (ESVF) is a
Singaporean initiative to support Innovation and
Enterprise. ESVF is the biggest equity scheme by
the government which co-funds startups along with
Venture Capital (VC) firms. The beneficiaries of
this startup funding Singapore are early-stage
technology startups based in Singapore. The
National Research Foundation (NRF) invests S10
million on a matching basis, to seed corporate
venture capital (VC) funds. The VCs have the
option to buy NRFs share within five
years. Eligibility Startups that are operating
in the technology sector in Singapore. How It
Works National Research Foundation (NRF)
co-funds startups up to 10 million with approved
VCs. Eligible startups can qualify for up to 3
million in this Singapore startup grants grant.
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4. Productivity and Innovation Credit
(PIC)
The Inland Revenue Authority of Singapore has a
scheme for the Singaporean companies for
investments in innovation and productivity
improvements. They can enjoy Cash Payout and/or
Tax Deduction and receive a PIC Bonus. The
scheme covers research development,
registration, acquisition, in-licensing of
intellectual property, cost of automation
equipment, training of staff, approved design
projects. Eligibility Singaporean companies,
sole proprietors How It Works Under PIC scheme,
businesses get 400 tax deductions on up to
400,000. Or they can opt for 40 cash payout of
up to 100,000. The PIC Scheme will expire after
Year of Assessment (YA) 2018.
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5. Financial Sector
Technology and
Innovation (FSTI) Scheme
Momentary Authority of Singapore (MAS) launched
FSTI scheme to support innovation. It has
invested S225 million in the scheme. The aim of
this Singapore startup grant is to enable
financial institutions to establish their
innovation labs in Singapore support the
development of industry-wide technology
infrastructure innovation solutions. Eligibility
Singaporean Financial Institutions (FIs)
technology or solution providers working with
Singaporean FIs. How It Works Under FSTI-Proof
of Concept (POC), MAS funds up to 50-70 of
qualifying costs, capped at 200,000, for up to
18 months.
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6. Technology Enterprise
Commercialization Scheme (TECS)
The TECS is a government grants Singapore to
help entrepreneurs realize their technology-based
ideas into promising businesses. The scheme
assists them in growing their business past the
seed stage and then, obtain funding from the
third-parties to achieve targeted revenues and
growth. The proposals for the grant are ranked
solely based on the evaluation of technical idea
and its commercial merits. The TECS is highly
useful to the startups with strong technology
Intellectual Property business
model. Eligibility Companies registered in
Singapore for less than five years and searching
for the breakthrough, IP-based, and commercially
viable technological solutions. How It Works
TECS is a two-tier startup funding Singapore
grant. Proof of Concept at 250,000 Proof of
Value at 500,000.
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7. ComCare Enterprise Fund
The ComCare Enterprise Fund (CEF) is relatively
new government grants for startups, instituted to
provide funding to the social entrepreneurs. It
is instituted by the Ministry of Social and
Family Development. It is aimed at seeding the
Social enterprise startups. If the startup has
completed two years, it can seek funds for
expanding its activities. Eligibility Social
enterprise startups that hire and train
disadvantages Singaporeans. How It Works CEF
funds up to of 80 of the capital expenditure and
operating costs up to 300,000 for the first two
years
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