In a Ministerial Statement given by DPM Heng Swee Keat on 17 August 2020, it was announced that up to S$150 million has been set aside for the enhancement of the Startup SG Programme, to boost the pipeline of new innovative startups in Singapore. For more details, please refer to this press release.
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).
For the “Train” track, Enterprise Singapore has appointed Venture Builder and Accredited Mentor Partners (‘VB-AMPs’) with strong track records of venture building to provide 3-month Venture Building (VB) programmes to Singaporeans. The programme will provide support for sourcing innovation, commercialising these ideas into scalable businesses, getting product/solution validation from customers and finding capital.
For the “Start” track, teams of entrepreneurs with innovative business ideas can approach any Enterprise Singapore-appointed Accredited Mentor Partners (AMP) with their innovative business ideas. The AMPs will identify and recommend qualifying applicants for funding support 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. Enterprise Singapore will also provide the startups with a startup capital grant of $50,000. Startups are required to raise and commit S$10,000 as co-matching fund to the grant.
Find out more about Startup SG Founder here.
IES-INCA is one of the AMPs. To Apply with IES-INCA, CLICK HERE.