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Startup SG Tech

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Published by Enterprise Singapore
on 29 Nov 2019

Startups can seek early-stage funding to fast-track commercialisation of scalable in-house solutions with Startup SG Tech.

Overview

Startup SG Tech has been revised to provide successful applicants with greater ease of cashflow. For applications received from 1 August 2017, the grants will be awarded upon the completion of each milestone; unlike previously by reimbursement.The grant will also carry an equity component where Enterprise Singapore will have the rights to exercise a share subscription. This is to cultivate greater financial discipline and a growth-oriented mindset that is consistent among venture-backed startups.

The Startup SG Tech grant fast-tracks the development of proprietary technology solutions, and catalyses the growth of startups based on proprietary technology and a scalable business model.

Through Startup SG Tech, companies may receive early-stage funding for the commercialisation of proprietary technology.

Startup SG Tech supports Proof-of-Concept (POC) and Proof-of-Value (POV) for commercialisation of innovative technologies. Companies may apply for POC or POV grants depending on the stage of development of the technology/concept. Startup SG Tech is a competitive grant.

 

Eligibility Criteria

Your solution must:

  • Clearly demonstrate how science/technology is applied;
  • Be of a breakthrough level of innovation (i.e. distinctly different or new technology which either (i) has the potential to disrupt an existing market; or (ii) to replace, or create, a new market/purpose/niche.);
  • Lead to or build on proprietary know-how/IP;
  • Be commercially viable.

Applicants should be:

Startup Companies

  • Registered for less than 5 years at time of grant application;
  • At least 30% local shareholdings;
  • Company’s group annual sales turnover is not more than $100 million or group employment size is not more than 200 workers; and
  • Core activities to be carried out in Singapore.

Qualifying Projects

Your project must either be a:

Proof-Of-Concept (POC) Project
Your solution is at the conceptualisation stage, and the technical/scientific viability still needs to be proven.

You should clearly explain the innovative science or technology concept behind the solution. Individual applicants from public sector research institutes must demonstrate entrepreneurial commitment to continue their technology commercialisation work upon successful completion of the project.

OR

Proof-Of-Value (POV) Project
You already have a technically/scientifically viable concept (POC available), and you wish to carry out further development of a working prototype, to validate the commercial merit of an established concept.

You need to show the technology concept you are building on, and the commercial merit to be validated. You will also be required to demonstrate proof-of-interest from a potential customer or 3rd party investor, and the necessary business competencies to execute the project.

To maintain financial discipline, startups would be required to inject an increase in paid-up capital of 10% and 20% of the grant for POC and POV respectively. This replaces prior restrictions on the supportable costs. The grant cap for POC will remain at $250,000 and POV at $500,000. Please refer to the FAQ for more details.

Your project should fall under one of the following areas:

Advanced Manufacturing / RoboticsBiomedical Sciences and Healthcare

  • Robotics
  • Industrial IoT
  • Advanced materials
  • Augmented reality/Virtual reality technologies for manufacturing applications
  • Urban & autonomous mobility
  • Nanomaterials
  • Life science tools
  • Clinical diagnostics
  • Medical device and products
  • Digital health

Clean TechnologyInformation & Communications Technologies

  • Water technologies
  • Waste management and recycling solutions
  • Urban and sustainability solutions
  • Sustainable energy generation and management enablers
  • Cybersecurity technology
  • Infocomm infrastructure and architecture
  • Analytics and artificial intelligence (e.g. Machine Learning)
  • Edge technologies
  • Augmented Reality/ Virtual reality technologies
  • Distributed ledger technologies (e.g. Blockchain)

Precision EngineeringTransport Engineering / Engineering Services

  • Silicon photonics
  • Sensors and actuators
  • Composite technology
  • Coatings
  • Optics and lasers
  • Subsea technologies (e.g. subsea production and monitoring, materials development for high temperature/ high pressure applications)
  • Process technologies (e.g. solutions for improved oil recovery)
  • Automation platforms

Food Science & Technology

Processes

  • Food packaging technologiesFood testing solutions (e.g. rapid testing kits)
  • Food Safety and Traceability Solutions
  • Novel processing technologies (e.g. bio-transformation, AgTech, food waste valorization)

Products

Novel products in the following thematic areas: elderly nutrition, functional food, protein/meat alternatives

Points to note:

  • Project must not have commenced at the time of application.
  • Work should be done by the applicant (company), in Singapore, unless otherwise justified.

 

For More Info

Startup SG Tech

Last Modified Date: 29 Nov 2019