Startup SG Tech Grant
Topics To Be Discussed
Key Facts about the Startup SG Tech Grant
2. 30% or more local shareholding;
3. Company is an SME;
4. Creating innovative technologies.
Benefits of Singapore Startup SG Tech Grant
- The Startup SG Tech grant supports innovation projects in two stages: Proof of Concept (POC) and Proof of Value (POV), with funding limits set at S$250,000 for POC and S$500,000 for POV.
- The grant is disbursed in tranches upon achieving predetermined milestones, with an initial disbursement of 20% to facilitate cash flow and enable startups to initiate their projects.
- Additionally, the program includes an equity component where EnterpriseSG or its appointed nominee has the option to exercise a share subscription of up to 50% of the grant amount, capped at 49% of the company's total shareholding, which will be exercised during a qualifying equity financing round, and subsequent divestment is pursued by EnterpriseSG or its nominee in subsequent equity financing rounds.
- Successful applicants are required to increase their paid-up capital by 10% and 20% of the grant amount for POC and POV respectively to demonstrate their commitment to the project.
Eligibility Criteria for Startup SG Tech Grant Singapore
To be eligible for the grant, applicants should meet the following criteria:
Startup Companies: Applicants must be startup companies registered in Singapore within the past 10 years at the time of grant application.
At least 30% local shareholdings: The company must have at least 30% local shareholdings, indicating a significant local presence and involvement.
Not a subsidiary: The company should not be a subsidiary of a corporate entity at the point of incorporation. A subsidiary refers to an entity where the parent corporate entity holds more than 50% shareholding in the entity.
Core R&D activities in Singapore: The company should carry out core research and development activities in Singapore, indicating a commitment to fostering local innovation.
Points to note:
- Project commencement: Your project must not have commenced at the time of application.
- Work in Singapore: The majority of the project work should be carried out by the applicant company in Singapore, unless there are justifiable reasons for conducting work elsewhere.
How to Apply for Startup SG Tech Grant
How We Can Help with the Singapore PSG Grant
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