Government Grants to Help Your Business

Singapore has long been promoting an economy that encourages investors and entrepreneurs to bring forth innovative ideas and business solutions. Some of the many programs the Singapore Government has introduced to support businesses include varied incentive grants and schemes to help them upgrade their digital systems, support innovative ideas, and attract global talent, among many others.

This section will cover the various grants and schemes available to start-ups and other Singapore registered companies.

Grants Features Eligibility
Startup SG Founder This scheme comprises of two tracks:

 

  1. Train track – Under this, Venture Builder and Accredited Mentor Partners (VB-AMPs) will provide 3-month VB programmes to Singaporeans. It will provide support for sourcing innovation, identifying ideas with potential for business, and finding capital.
  2. Start track – This track will provide selected entrepreneurs with start-up capital grant of $50,000, learning programs and networking contacts.
 For applicants under “Train” track:

 

  • They must be SC/ PR.
  • They must commit to a 100% attendance rate.
  • They cannot have other full-time or part-time employment.

For applicants under “Start” Track:

  • The team must have at least 3 SC/PRs, who are the main applicants of the grant.
  • 2 of the 3 applicants are first-time founders and hold a min of 30% equity in the company collectively.
  • The company must have 51% of local shareholding.
  • He/She must not have received any government funds for the same project in the past.

For full details, click here.
Startup SG Tech Aims to provide successful applicants with greater ease of cashflow, to be awarded upon the completion of set milestones. It provides a platform for start-ups to receive an early stage funding for the commercialisation of proprietary technology.
  •  Have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership.
  •  Company should have been registered for less than 5 years at the time of application.
  •  Annual sales turnover does not exceed $100 million OR has an employment size of 200 staff or less.
  •  Your project should either be a Proof-of-Concept (POC) Project or a Proof-of-Value (POV). For a complete list of eligible projects click here.
Startup SG Talent Aims to support global talent interested in setting up innovative businesses in Singapore and for start-ups looking to attract foreign talent to be part of their team.

 

Schemes under this pillar include EntrePass, T-Up, Global Ready Talent Programme, and Tech@SG Programme.
  •  For Entrepass: Company must be registered with ACRA and must be less than 6 months old at the time of application.
  •  For T-Up: Have at least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership; and an annual turnover of less than S$100 million/employee size of not more than 200 workers.
  •  For GRT Programme: Must be an ACE Startups Member of less than 5 years old.
  •  For Tech@Sg: Company must be registered with ACRA and have a core business product/service of digital nature.

Companies with their headquarters registered in Singapore can make use of the following grants-

  1. Productivity Solution Grants

This grant is aimed at supporting companies looking to adopt IT solutions and other digital equipment that would smoothen business processes and facilitate greater productivity.

SMEs can apply for this grant under the following conditions –

  • They are registered and operating in Singapore.
  • They intend to use the purchased/leased IT solution and equipment in Singapore.
  • 30% of their shares are locally held.
  • They have an annual sales turnover less than $100 million OR an employee size below 200 worker.

As announced at Budget 2021, the enhanced maximum support level of up to 80% will be extended from 30 September 2021 to 31 March 2022.

For further details, click PSG.

  1. Enterprise Development Grant (EDG)

The Enterprise Development Grant (EDG) is provided to businesses that are looking to upgrade their innovative ideas or expand their overseas presence in ways that would help them to grow and transform. The grants support funding for projects costs such as third-party consultancy fees, software and equipment, and internal manpower cost.

Companies can apply for this grant if:

  • They are registered and operating in Singapore.
  • At least 30% of shares are held by locals.
  • They are financially stable to see the project through to the end.

As announced at Budget 2021, the enhanced maximum support level of up to 80% will be extended from 30 September 2021 to 31 March 2022.For more details, click EDG.

For more details, click EDG.

  1. Market Readiness Assistance (MRA) Grant:

Enterprises looking to build their international presence can make use of the MRA grant to expand their business overseas. Successful applicant may receive up to 70% support on eligible costs, capped at S$100,000 per company per new market from 1 April 2020 to 31 March 2023.

Companies can submit applications for this grant if:

  • They are registered in Singapore.
  • Their overseas sales have not exceeded S$100,000 in the last three preceding years.
  • At least 30% of shares are locally held.
  • Group Annual Sales Turnover has not exceeded S$100 million OR employee size is 200 workers or less.

As announced at Budget 2021, the maximum support level of up to 80% will be extended for 6 months, until 31 March 2022. MRA will also be enhanced to include Trade Credit Insurance (TCI) as a supportable area under the overseas market set-up pillar with effect from 1 April 2021.

For more details, click MRA Grant.

Apart from these, companies can make use of a host of others grants available such as the Land Productivity Grant, SkillsFuture Enterprise Credit, International Co-Innovation Programmes, and the Specialised Cleaning Programme (directed towards enterprises affected with confirmed Covid-19 infections).

  1. Pact Programme:

This programme is suitable for companies looking to collaborate with other companies to carry out business projects and gain mutual benefits from one another. Projects that are undertaken between the companies must be in the form of either capability development (supplier/partner development, co-innovation, knowledge transfer) or business development (alliances, sharing of resources).

Under this programme, support for SMEs will be capped at 70% and for non-SMEs this will be capped at 50% of the qualifying costs.

In such a collaboration, one enterprise should take the role of “leader” in driving the projects to benefit the group of companies.

An enterprise needs to fulfil the following conditions to be eligible to lead:

  • It should be a Singapore registered company. The other participating companies may include foreign firms, but the majority must constitute of locally registered firms.
  • It should have capabilities that are superior to those of the other participating companies.
  • It should be interested in helping the participating companies in ways that go beyond regular commercial interests.

For more details, visit PACT Programme.

  1. Startup SG Accelerator:

Startup AG Accelerator aims to help high potential start-ups to capitalise on growth opportunities through various programmes, mentorships, and provision of resources. Under this programme, funding will be provided for:

  • Start-ups to develop new products/services, obtain business financing, gain market access etc.
  • Hiring mentors to provide start-ups with expert guidance on business and technical management ideas.
  • Covering certain sections of operating costs.

Companies can apply for this programme if they fulfil the following conditions:

  • They should be incubators or venture accelerators with a unique value proposition.
  • They should have a steady revenue model for the long term.
  • They should have a management team with an excellent track record.

For more details, visit Startup SG Accelerator.

For a complete list of grants and schemes available, click here.

Whether you are a start-up looking to establish your first office, or a multinational corporation seeking to expand your presence in Singapore or the Asia Pacific region, our team of professional staff will ensure to deliver service excellence that meet your expectations.

All materials have been prepared for general information purposes only. The information presented in this document is not legal advice, is not to be acted on as such, may not be current and is subject to change without notice. Professional advisory should be sought before taking or refraining from any action as a result of the contents of this document.

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