A Complete Guide To The Startup SG Tech Grant

Your Complete Guide To The Startup SG Tech Grant

Rapidly expanding into the tech industry, Singapore is one of the leading countries in terms of tech business support. If you are a interested in starting up your tech business headquarters, this article covers how the Startup SG Tech Grant can help you. Learn about the benefits and eligibility requirements for this grants below.

What is Startup SG Tech Grant?

The Startup SG Tech award encourages the creation of proprietary technology solutions and accelerates the growth of scalable technology-based enterprises. Companies may get early-stage funding for the commercialization of proprietary technology through the award.

However, note that the program includes 50 percent of the grant amount provided to Enterprise Singapore as share subscription rights. This aims to encourage more financial discipline and a growth-oriented mindset among venture-backed businesses.

What are the benefits of Startup SG Tech Grant?

Successful applicants will receive early-stage funding support capped at S$250,000 for Proof Of Concept and at S$500,000 for Proof Of Value projects.

👉 Note that startups would be required to inject an increase in paid-up capital of 10% and 20% of the grant for Proof Of Concept and Proof Of Value projects respectively.

Depending on the evaluated grant by Startup SG Tech Panel, successful applications will receive 20% of the grant at the onset to kick start development. However, It is recommended that the start-up have enough financial means to ensure that they can see the complete commercialization process through

Upon completing project milestones determined in stage 2 of the application process. Disbursements will then be processed. Thus, there will be site visits and required reports to verify the completion of milestones.

Examples of milestones:

  • Completion of Components A – Quality X higher than industry standard by x%
  • Production of prototype batch – Completion of pilot batch for trials
  • Completion of First trial – Tests complete, Quality X achieved a higher speed than industry standard

In the situation where milestone deadlines are not met, time extensions could be granted. However, if determined that the project shows a persistent inability to complete the project milestone. The project will most likely be terminated.

How to be eligible for Startup SG Tech Grant?

Applicant eligibility:

  • 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;
  • Core activities to be carried out in Singapore; and
  • Startup incorporated as a Private Limited Entity – Check out our services for high quality and efficient incorporation

Project eligibility:

  • Project must not have commenced prior to the time of application;
  • 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;
  • Project must either be:
    • Proof of Concept – Your proposal is still in the conceptual stage, and its technical/scientific viability must be demonstrated.

      You should clearly explain the solution’s innovative scientific or technological notion. Individual applicants from public research institutes must show an entrepreneurial commitment to continue their technology commercialization activity once the project is completed

      ; OR

    • Proof of Value – You already have a technically/scientifically viable concept (POC) and want to construct a functional prototype to test the commercial viability of an existing concept.

      You must demonstrate both the technology concept and the business worth of your product. You’ll also need to show proof of interest from a potential consumer or third-party investor, as well as the essential business skills to complete the project.
  • Project must fall under one of the following areas:
Advanced Manufacturing/RoboticsBiomedical Sciences and HealthcareClean Technology
Information & Communications TechnologiesNew IndustriesPrecision Engineering
Transport Engineering/Engineering ServicesFood Science and TechnologyAgritech

So how do I apply for the Startup SG Tech grant?

The application process features 3 stages.

1st stage – (Registration of Interest)
2nd stage – (Application and Evaluation)
3rd stage – (Final Panel Evaluation)

Stage One

Interested startups should submit a brief of their planned project at Stage I. Download the Registration of Interest Enterprise Singapore Startup SG Tech Registration of Interest Form and fill it out completely. After filling in the essential fields, submit your completed form by uploading it as an attachment to go.gov.sg/helloesg. Your project’s eligibility will be determined by Enterprise Singapore.

Stage Two

If your application is accepted, Enterprise Singapore will ask you to submit a formal application that includes a detailed business proposal and a cost breakdown (startup SG Tech Proposal Template Enterprise Singapore Template). Innovativeness, technical feasibility, and commercialization potential are all factors considered while evaluating proposals. At this stage, you will be listing your projects milestones which trigger disbursements of the grant.

Stage Three

Shortlisted (both POC and POV) Stage II applicants will present their concepts to a final evaluation panel made up of industry professionals. The evaluating panel’s conclusion is final.

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