The objectives of the Startup SG Founder programme include:
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a) Encouraging entrepreneurship as a career choice for graduates;
b) Changing the mindset that mid-career professionals should not be entrepreneurs. ESG hopes to support the first foray into entrepreneurship, particularly in deep tech sectors;
c) Amplifying ESG’s outreach to startups through AMPs;
d) Tapping on the expertise of AMPs that are better qualified to assess and support startups;
e) High potential deep tech startups tapping on other follow-on schemes to support its growth journey;
f) To enable more aspiring entrepreneurs to start new ventures and accelerate the formation of innovative startups in Singapore with an increased grant of $50,000.

Yes, there is a standard application form, and a list of supporting documents that are required to be submitted in the application process.

ESG’s priority sectors include Advanced Manufacturing and Engineering (e.g. Robotics), Internet ofThings, Health and Biomedical Sciences, Services and Digital Economy (e.g. Data analytics orCybersecurity), Agri-Tech and Food-Tech.

ESG would focus on the business aspects of the company, with preference in the tech sectors. If startups have defensible technologies/solutions, and have revenue generating models with the ability to scale, they can be supportable.

Yes, startups may pivot their business models during the grant period, with compelling justifications. However, they will still have to meet the revised set of milestones accordingly.

The intent of this grant scheme is to support first time entrepreneurs. Exceptions are assessed on a case-by-case basis. ESG understands that to promote entrepreneurship, some schools may require students to register a business as part of a course requirement. Hence ESG will assess these on a case-by-case basis, taking into consideration the reasons. Serial entrepreneurs may wish to work with a first time entrepreneur or tap on other relevant grant schemes (e.g. Startup SG Tech) for support.

The 6-month incorporation requirement is arbitrary, and deviations are allowed on a case-by-case basis.

The main applicant for Startup SG Founder must be a Singaporean or a Permanent Resident, but the startup’s co-founders may be foreign. Applicants should be mindful that the total local shareholding of Singaporeans/PRs in the company must be more than 50% to be eligible for the grant. Foreign founders can access other forms of support by ESG if they meet the respective qualifying criteria.

The SSG Founder Grant is a $50,000 disbursement grant and there is a 1:5 co-matching requirement, where a $10,000 investment must be made to the company, either by the AMP or the founder/applicant, in order to unlock the $50,000 grant.

The SSG Founder award grant cannot be used to repay loans. Otherwise, there is flexibility in using it for most business operational expenses. ESG expects proper Accounts to be kept, and will require that at the milestone check.

No, the grant is awarded specifically to the founder and company, and they will not be allowed to apply for the grant again if awarded. However, startups are allowed to approach multiple AMPs before deciding on the AMP that fits them best.

The SSG Founder Grant is disbursed in 2 tranches. The first tranche is disbursed upon award, after submission of the supporting documents to prove that the basic requirements have been met. The second tranche is disbursed when startups fulfill the milestones within a year of being awarded the grant.

Milestones are determined in the application and evaluation process. AMPs will recommend milestones in their startup recommendation applications to ESG, and we may negotiate and recommend milestones depending on the nature of the startup and its state of development.

Some AMPs treat this 12-month period as a Proof-of-Concept stage and the milestones were set accordingly. You may wish to set the milestones to what you want the startups to achieve within 12months in your programme. As much as possible, AMPs should set milestones that stretch the startups to accomplish them around 12 months. ESG will also negotiate to ensure that milestones are reasonable and not too easy to meet in a short timeframe.

Startups are to fulfil the milestones that are set by AMPs and ESG within 12 months. Upon the fulfilment of the milestones, the startup and AMP should contact ESG to request for the disbursement of the second tranche amount.

Should ESG not receive any updates from the startup and AMP about fulfilling their milestones within12 months, the grant shall expire with no further disbursements.

AMPs and startups may request for extensions to the grant period should it be raised before the 12months is up. Requests for extensions will be assessed on a case-by-case basis, subject to further approvals.

Yes, as long as they hit the Startup SG eligibility criteria, e.g. incorporated for less than 6 months, first time entrepreneur and have Singaporean shareholding of at least 51%.

Applicants will be required to declare past ventures but they are still considered first time entrepreneurs in Singapore based on ACRA records.

At the point of application, startups are required to declare any incentives they have received or pending to receive. ESG will work with AMPs to deconflict the milestones to be set, and/or adjust the grant period.

ESG is enhancing the Startup SG Founder programme to boost the pipeline of new innovative startups in Singapore. Deputy Prime Minister Heng Swee Keat announced during his Ministerial Speech on 17 August that up to S$150 million has been set aside for this.

This is important as startups form the bedrock of our innovation community, spurring new development and new growth opportunities for Singaporeans. By enhancing the Startup SG Founder programme, we hope to enable more aspiring entrepreneurs to start new ventures and accelerate the formation of innovative startups in Singapore.

ESG is enhancing the Startup SG Founder programme to boost the pipeline of new innovative startups in Singapore. Deputy Prime Minister Heng Swee Keat announced during his Ministerial Speech on 17 August that up to S$150 million has been set aside for this.

This is important as startups form the bedrock of our innovation community, spurring new development and new growth opportunities for Singaporeans. By enhancing the Startup SG Founder programme, we hope to enable more aspiring entrepreneurs to start new ventures and accelerate the formation of innovative startups in Singapore.

a. Increase in (pre-seed) grant amount to S$50,000 over a 12-month grant period
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b. Co-matching amount of S$10,000 remains unchanged (subscribed as shares)
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c. Applicant company must have a minimum of three SC/PR employees (including co-founders), with at least two first-time founders amongst the three

ESG continuously reviews all our programmes including the Startup SG Founder and its appointed AMPs. Any further enhancements will be subject to a review in FY2021.

Pursuing entrepreneurship at this time is challenging. But the Government is providing various forms of support to mitigate this risk.

a. The enhancement of Startup SG Founder is an example. Startups under our Startup SG Founder scheme are closely supported and mentored by ESG-appointed AMPs, who provide useful resources, coaching and networks for startups and entrepreneurs to tap on. There is also significant support from government effort and community-led initiatives to help the local startup ecosystem, to mitigate risks in pursuing entrepreneurship during this time.

b. In June 2020, the Special Situation Fund of S$285 million was launched to support promising startups with strong growth potential to continue with innovation and produce development in Singapore.

c. The Startup SG Equity scheme was enhanced earlier this year with an additional S$300 million to catalyse more investments into Singapore-based deep-tech startups. Both are done through co-investments with the private sector.

No. Startup founders who have ready business plans and do not require entrepreneurial training can continue to apply to one of 49 existing AMPs to be considered for the Startup SG Founder grant.

The enhancements will take effect on 25 Sep 2020. Any applications received by ESG prior to this date will follow the current Startup SG Founder grant conditions, which include:

i. Grant amount of $30,000 over a 12-month period

ii. Co-matching ratio of 1:3 (ie. Founder(s) must raise $10,000 in capital)

iii. Only one main applicant required

Any applications received by ESG from 25 Sep 2020 onwards will follow the new Startup SG Founder grant conditions. Some key conditions include:

i. Increased grant amount of $50,000 over a 12-month period

ii. Reduced co-matching ratio of 1:5 (ie. co-investment of $10,000 required)

iii. Minimum 3 SC/PR employees (including the founder), two of whom must be first-time founders

ESG would like to encourage founders, particularly first-time founders, to start as a team so that they have a range of complementary competencies and experience to grow the startup.

In addition, studies have shown that startups with more than one founder are often more successful than those with solo founders.

ESG will be assessing applications with such scenarios on a case-by-case basis, acknowledging that there have been entrepreneurs who had started up and failed before, and are looking for a second chance of starting a successful venture.

The 3 applicants must be committed full time to the startup. However, employees with flexible employment arrangement can be accepted so long as they are not under full time employment with other organisations.

The Startup SG Founder scheme supports both tech and non-tech startups with an innovative product, technology or solution.