All startups require capital, whether it’s your own or external money. For those without sufficient capital, Singapore is a great place with plenty of schemes to help kickstart your startup business.
Ace Startup Grant
Grant of up to $50,000 based on a matching of $7 to every $3 raised by the entrepreneur. Best part about it? You remain fully in control of your company as Spring Singapore does not take any stake in the company. You will be matched with a mentor and the money will be disbursed in 2-3 tranches. However, only first time entrepreneurs qualify, so it’s great for new budding entrepreneurs.
More details can be found here: https://www.enterpriseone.gov.sg/en/Government%20Assistance/Grants/Start-Ups/gp_spring_ace.aspx
IDM Jumpstart and Mentor (iJam)
This program by NRF supports funding for interactive digital media. It works in 2 tiers with total of up to $250,000.
Tier 1: $50k grant given through appointed incubator
Tier 2: $100k with dollar for dollar matching by the incubator
Innovation and Capability Voucher (ICV)
$5,000 voucher for consultancy in the areas of innovation, productivity, human resources and financial management as well as productivity solutions.
More details can be found here: http://www.spring.gov.sg/Growing-Business/Voucher/Pages/innovation-capability-voucher.aspx
Using a combination of these 3, hopefully it can help you jumpstart your startup! If you have any comments on these grants or vouchers, just drop us a comment!