Startup SG Founder provides mentorship support and startup capital grant to first-time entrepreneurs with innovative business concepts.
With effect from 1 April 2024, ESG will support all successful startup grant recipients on a 1:1 support ratio, for a grant amount from S$20,000 to S$50,000.
Also taking effect from 1 April 2024, the eligibility criteria for the second applicant will be revised. Now, the second applicant can be a non-first-time founder. This change aims to encourage first-time entrepreneurs to found startups while leveraging the experience and expertise of non-first-time entrepreneurs. It also allows different archetypes of founders, such as Researchers, Scientists, Engineers (RSEs), and serial entrepreneurs, to be involved part-time as part of the founding team.
These changes are designed to enhance the support provided to first-time entrepreneurs with innovative business concepts, while also fostering collaboration and knowledge transfer between experienced and novice entrepreneurs.
SMU is an Accredited Mentor Partner (AMP) of ESG. For SMU to support a startup as an AMP for the SSGF Grant application, the startup must satisfy the following conditions :The startup must meet the eligibility criteria for the SSGF Grant. You can verify your startup’s eligibility by checking ESG’s website.
The startup must enroll successfully into the SMU-IIE Business Innovations Generator (BIG) incubation programme. This is to ensure that the startup enjoys all the necessary support and resources such as co-working, mentorship and networking opportunities to grow.
Kindly note that there are two intakes for the Business Innovations Generator (BIG) Programme annually, usually in January and August.
For more information of the BIG Programme, please visit here.