The government has various business assistance schemes to help businesses gain access to loans equity financing, grants and incentives
Seed Funding For Start-Ups
- Seed money is often in modest amounts and is most commonly provided by angel or private investors in the earliest stages of your start-up
- The government has schemes were they match fund provided by a private investor so as to encourage more seed funding for promising start-up.
- Business Angel Fund (BAF) – Dollar matching: S$1 for every S$1 invested by BAF for Singapore based startups developing innovative products or processes for global market
- SPRING startup Enterprise Development Scheme (SPRING SEEDS) – Dollar matching: S$1 for every S$1 invested by private investor for Singapore-based startups in developing new/improved products, processes and applications
Grants for Start-Up
- you can receive financial assistance (Grant) that does not need to be repaid.
- Many grants are for specific projects or industries and require start-ups to go through an application process and often have specific compliance and reporting requirements.
- ACE Startups Grant (Innovative Business) – Dallor Matching: S$7 for every S$3 raised by entreprenuer, up to S$50,000 for First-time entrepreneurs who are a Singapore Citizen or PR, and hold at least 51% equity
- ComCare Enterprise Fund (CEF) – Singapore-based businesses and organisations who start a social enterprose to help disadvantaged Singapore Citizen become self-reliant are eligible to apply up to 80% of project cost, capped at a mavimum of S$300,000
- Ideas.Inc Business Challenge (Commercialise Innovative Products and Services) – First time enterpreneurs between 18-26 years old with at least 1 team member who is a Singapore Citizen or PR are eligible to apply. The grant is up to S$65,000
- Technology Enterprise Commercialisation Scheme (TECS) – Singapore-based startup Companies who develop ideas at conceptualisation stage to trial test your prototype are eligible to apply.
Tax Exemption for Start-Ups
- Singapore incorporated Start-ups (Company) are eligible to apply
- No tax on the first S$100,000 of chareable income for the first 3 yers of tax assessment
R&D Incentive for Start-Up Enterprises Scheme
- Singapore incorporated Start-ups (Company) that carry out R&D activities in Singapore are eligible to apply
- Encourages start-ups to carry out more research and development (R&D) in Singapore
- Cash Grant up to $20,250 for the first 3 years of tax assessment
Startups can also apply for grants, loans and other types of assistance open to all businesses such as Technology for Enterprise Capability Ugrading Initiative (T-UP), Micro Loan Programme and First Mover Advantage, etc.