IIE's Acceleration Grant provide startups with additional funding to support the growth of their startup. Up to $10,000 will be awarded to startups who display promise in terms of growth and development.
- Startups incubated by by IIE
- One of the startup founders must be a current SMU student/faculty/staff or SMU alumni
- Startups who have received similar funding (e.g. Startup SG Founders Grant) are not eligible for application.
- Startups who have received more than USD 1 million in external funding at the time of application are not eligible for the application.
Size of Grant
In order to qualify for the SGD $10,000, the startup is required to co-fund $3,000 on the startup.
The award of the acceleration grant is based on SMU IIE's discretion.
The applying team is required to articulate the following:
- Market Opportunity
- Feasibility of business model
- Management Team
Awarded startups are required to achieve two milestones within the incubation program that will be reviewed and accepted by IIE’s Entrepreneur-in-Residence.
Interested startups may apply for the grant while submitting their application for incubation.
The grant is awarded on a competitive basis and interested teams are required to present to a panel comprised of business mentors, angel investors and institute's staff.
The teams are required to be incubated at IIE's Business Innovations Generator (BIG) upon award of the grant if they are not incubated at time of the application.