Purpose of the Scheme
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.
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:
- 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.
Startup SG Tech is a competitive grant where proposals are ranked based on the evaluation of a team of reviewers and the best proposals are funded.
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.
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.
Startup SG Tech Process
There are three stages for Startup SG Tech:
- Stage 1 (Registration of Interest)
- Stage II (Application and Evaluation)
- Stage III (Final Panel Evaluation)
Interested startups should submit a summary of the proposed project by completing the Registration of Interest Form. Thereafter, the form should be emailed to firstname.lastname@example.org. Enterprise Singapore will inform you of your project's eligibility.
If accepted, Enterprise Singapore will invite you to submit a formal application comprising of the full business proposal, cost breakdown and project proposal. Proposals are assessed for the innovativeness, technical feasibility and commercialisation potential.
Shortlisted (both POC and POV) applicants from Stage II will present their proposals to a final evaluation panel comprising of industry experts. The decision of the evaluation panel is final.
Please proceed to https://www.startupsg.net/programmes/4897/startup-sg-tech to download the relevant documents.