Startup SG Founder Grant
StartupX is an Accredited Mentor Partner (AMP) from 1 May 2019. To help foster innovation and build the local startup ecosystem, we will support startups in their entrepreneurial journey. As an AMP, StartupX will assist startups in their application for the Startup SG Founder Grant.
Applicant (Singapore Citizen/ PR) must be a first-time entrepreneur who holds at least 30% equity in the company
The company must have at least 51% of local shareholding
Incorporation date of company must be within 6 months from the date of application submission
Applicant must not have received additional funding for the proposed business idea from another government agency
Monthly check-in with our programme manager to review your progress, identify challenges and receive support from the StartupX team
Invites to join our exclusive masterclasses & networking events held for the startup community
Masterclasses & networking sessions
Discussion session(s) with your startup for any pressing issues on hand that requires our assistance
Tap into our network of prominent founders, investors, VCs and/or partners
Mentors & partners
Opportunities to pilot with supporting partners and their end users
What is the process for grant application?
Please submit a short writeup about your idea and pitch deck to us here. Please include your challenge statement & tech solution of your business, market size, traction and team composition. StartupX will review your submission and reach out should your business fulfills the criteria.
If your startup is shortlisted, we will work with your team to determine the appropriate milestone and submit the documents to Enterprise Singapore (ESG) on your behalf. Approval of the grant will take 5 working days after submission to ESG.
Upon approval, the grant will be disbursed in 2 tranches based on agreed project milestones. You will have up to 12 months from the date of letter of offer to meet the milestones to draw down on the grant.
Is there any industry that is ineligible for the grant?
Proposed business idea must not be in the following list: cafes, restaurants, night clubs, lounges, bars, foot reflexology, massage parlours, gambling, prostitution, social escort services, employment agencies (including recruiting foreign work permit holders and workers/ support staff, relocation services, and manpower services), and geomancy.
If I am a solo founder, am I eligible for the grant?
You can apply as a solo founder and we do accept applications from solo founder from time to time. However, that’s usually an exception and your odds of application are much higher if you have a team of co-founders with complementary skills.
How much should I raise for the co-matching?
SG Founder Grant provides up to $30,000 to entrepreneurs by matching $3 to every $1 raised by the entrepreneur. To receive maximum of $30,000 grant, the applicant(s) need to match with at least $10,000.
Will StartupX be raising the $10,000 required for co-matching?
StartupX will work with your startup to administer the application for your SG Founder Grant. However, the co-matching amount should be raised by the entrepreneurs.
Will there be any administration fee involved?
There will be no fee involved nor equity taken from the application of the SG Founder Grant.
Head over to the Startup SG Founder page to find out more.