Apply now for the Startup SG Founder through Innovate 360 who’s an Accredited Mentor Partner (AMP) appointed by Enterprise Singapore.
Applicants will need to complete the Startup SG Founder Application Form and submit it to Innovate 360 for consideration. Innovate 360 will assess that the applicant’s eligibility and evaluate its criteria, Innovate 360 will then recommend the application to Enterprise Singapore, together with appropriate milestones for disbursement of grant amounts. Enterprise Singapore will inform the applicant and Innovate 360 on the application status for the grant.
The grant is open to all Singaporeans/Permanent Residents who are first-time entrepreneurs. In addition, the applicant would need to adhere to the following conditions at the time of application:
- Applicant(s) must hold or propose to hold at least 30% equity in the underlying company;
- The company must have at least 51% of local shareholding and not be incorporated for more than six (6) months at the point of application to Enterprise Singapore;
- The applicants must not have registered or incorporated any business entity;
- The applicants must not have received any funding for the proposed business idea from another government organization.
Approved applicants must dedicate a reasonable amount of their time on the business and must be a key decision maker in the company. The applicants must also commit full-time to the company and not be in any other employment from the time they accept the terms and conditions of the Letter of Offer. Please note that a key criterion for assessment is on how different or novel the idea/product/service/business model/process is compared to what is available in the market.
More information about qualifying for the funding, please visit http://www.startupsg.net/startupsg-founder/