Startup SG Founder

​Startup SG Founder provides mentorship and startup capital grant of S$50,000 to first-time entrepreneurs with innovative business ideas. Startups are required to commit S$10,000 as co-matching fund to the grant.

The enhanced Startup SG Founder scheme will comprise of two tracks: The Startup SG Founder “Train” track (a new track), and the Startup SG Founder “Start” track (enhanced from the existing SSGF scheme).

Eligibility

Startup SG Founder “Train” Track

Apply for Startup SG Founder “Train” through an Venture Builder and Accredited Mentor Partner (‘VB-AMP’). Shortlisting and selection of participants into the VB Programmes are subject to the VB-AMPs’ screening criteria, which takes into consideration, but is not limited to, the aptitude, expertise, background and related experience of the applicant. The applicant must also be able to commit to running a startup after the programme.

In addition, individuals must be Singapore Citizens (SC) / Permanent Residents (PR) and must commit to 100% attendance rate to be eligible for this track. This means that individuals who are in full-time or part-time employment will not be eligible unless they tender their resignation before the start of the programme.

Startup SG Founder “Start” Track

Apply for Startup SG Founder “Start” through an Accredited Mentor Partner (AMP). Applicants will need to reach out to an AMP of choice and submit their pitch deck for the AMP’s consideration. AMP will assess applicants based on (but not limited to) the following criteria: 

• Differentiated business – how novel the idea/product/service/business model/process is compared to what is available in the market

• Feasibility of the business – whether the revenue model is sustainable

• Potential market opportunity – how large the size of the target market is, and how the company intends to reach out to its customer segments

• Management team – whether the founding team demonstrate passion and entrepreneurial spirit, and have the relevant technical and business skills to execute the idea.

If the AMP assesses that the applicant has met the eligibility and evaluation criteria, they will provide a letter of recommendation to the applicant. Applicants must then attach this letter in an online application form to be submitted to Enterprise Singapore within 2 weeks from the receipt of the letter of recommendation. Enterprise Singapore will inform the applicant and AMP on the application status for the grant.

The grant is open to all Singaporeans/Permanent Residents who meet the following conditions at the time of application and throughout the grant period:

• The team has at least 3 SC/PRs, who are the main applicants of the grant;

• At least 2 of the 3 main applicants are first-time founders;

• The main applicants who are first-time founders must hold a minimum of 30% equity* in the company collectively;

• The main applicants must register/have registered a private limited company in Singapore upon approval;

• The company must have a minimum 51% SC/PR shareholdings;

• The company must not be more than 6 months of incorporation at the point of application to the AMP;

• The business activities run by the company should be conducted wholly or mainly in Singapore.

• The main applicants must register/have registered a private limited company in Singapore upon approval;

• The 3 main applicants must contribute meaningfully to the company, and not be engaged in any form of external employment (employment where employers, apart from the entity recipient of the Startup SG Founder grant, contribute CPF for their employees), including full-time National Service;

• At least 2 of the 3 main applicants, who are first time founders, should be committed full time to the company**, and must be key decision makers of the company;

• The main applicant(s) must not have received any funding for the proposed business idea from another government organization;

• Previous Startup SG Founder grant awardees (S$30,000 or S$50,000 grant) are not eligible for subsequent Startup SG Founder grants; 

• The proposed business idea must not be in the following list: cafes, restaurants, night clubs, lounges, bars, foot reflexology, massage parlours, gambling, prostitution, social escort services, employment agencies (including recruiting foreign work permit holders and workers/support staff, relocation services, and manpower services), and geomancy.

Click here to submit your pitch deck to an AMP.

*All main applicants who are first-time founders are to hold non-zero equity.

**Students who have ongoing academic commitments are not considered full-time committed to the company.