Startup SG Founder Grant

SMU-IIE is one of the Accredited Mentor Partners (AMP) of ESG to process the Start-up SG Founder Application.

In order to process your ESG application, first you need to apply to take part in our incubation programme Business Innovations Generator(BIG).

Taking part in BIG is an essential part of the application process that we follow in SMU-IIE. This is to ensure that all start-ups incubating with us including the ones receiving ESG grants benefit from the incubation ecosystem that we have made available to the start-ups. This approach helps us to:

  • Set milestones
  • Provide master classes & coaching
  • Create networking opportunities with investors& corporates
  • Mentoring and monitoring their progress during their course of entrepreneurship journey with us
  • It helps us to comply with ESG guidelines which requires start-ups receiving grants to be nurtured and managed


There are three intakes we have for the Business Innovations Generator (BIG) Programme in a year. January, May and September.

One month before the intake month, the application submission window will open. In the meantime, you may register your interest here take part in our next intake.

Eligibility

Applicants will need to complete the Startup SG Founder Application Form and submit it to SMU IIE for consideration. If SMU IIE assesses that the applicant has met the eligibility and evaluation criteria, recommendation of the application will be submitted to Enterprise Singapore, together with appropriate milestones for disbursement of grant amounts. Enterprise Singapore will inform the applicant and SMU IIE on the application status for the grant.

Eligibility Criteria for applications received by ESG until 24 Sep 2020

Apply for Startup SG Founder through an Accredited Mentor Partner (AMP). Applicants will need to complete the Startup SG Founder Application Form and submit it to their selected AMP for consideration. If the AMP assesses that the applicant has met the eligibility and evaluation criteria, the AMP can recommend the application to Enterprise Singapore, together with appropriate milestones for disbursement of grant amounts. Enterprise Singapore will inform the applicant and AMP 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 AMP;

 

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.

  • 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 organisation.
Eligibility Criteria for applications received by ESG on or after 25 Sep 2020

Apply for Startup SG Founder “Start” through an Accredited Mentor Partner (AMP). Applicants will need to complete the Startup SG Founder Application Form and submit it to their selected AMP for consideration. If the AMP assesses that the applicant has met the eligibility and evaluation criteria, they will provide a letter of recommendation to the applicant, who must then attach this letter in an online application form, to be submitted to Enterprise Singapore. Enterprise Singapore will inform the applicant and AMP on the application status for the grant.

The grant is open to all Singaporeans/Permanent Residents who meet the following conditions at the time of application:

The team has at least 3 SC/PRs, who are the main applicants of the grant; At least 2 of the 3 main applicants are first-time entrepreneurs;

 

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.

  • The main applicants who are first-time entrepreneurs must hold a minimum of 30% equity in the company collectively;
  • The company must have a minimum 51% SC/PR shareholdings;
  • The company must not be more than 6 months of incorporation at the point of application to the AMP;
  • The main applicant(s) must dedicate a reasonable amount of time on the business, not be employed full time by another employer and must be a key decision maker(s) in the company
  • The main applicant(s) must not have received any funding for the proposed business idea from another government organization;
  • The proposed business idea must not be in the following list: cafes, restaurants, night clubs, lounges, bars, foot reflexology, massage parlours, gambling, prostitution, social escort services, employment agencies (including recruiting foreign work permit holders and workers/support staff, relocation services, and manpower services), and geomancy.

 

Application Process through SMU IIE

Step 1: Submit the some of the following documents when applying to take part in BIG. Please follow the instructions given on the BIG application page on what to submit along with application and others will be called as and when necessary.

  • Completed Startup SG Founder Application Form (click on icon below to download)
  • Business plan / pitch deck
  • CV of the applicant(s)
  • Copy of NRIC of Applicant(s)
  • ACRA bizfile Business Profile of company (if applicable)
  • ACRA e-statement to declare that the Applicant(s) is a/are first-time entrepreneur(s)
Following steps correspond with the BIG Entrepreneurship Journey that you can see on the application page.

Step 2: SMU IIE assesses the applications based on the eligibility and evaluation criteria as part of the BIG application journey map

Step 3: Shortlisted applicant(s) will be required to make a presentation to an evaluation panel.

Step 4 :Based on the panel evaluation, IIE recommends the qualified applications to Enterprise Singapore, together with appropriate milestones for disbursement of grant amounts.

Step 5: Enterprise Singapore will inform the applicant and SMU IIE on the application status for the grant.

Step 6: The applicant(s) who receive the grant will join IIE’s incubation programme to receive 12 months support in company growth and milestone tracking.

Download Application Form

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