Imagine you’re a young entrepreneur in a city buzzing with opportunities, like Singapore in 2025! You’ve got a brilliant idea, but where do you start? The good news is that Singapore offers a range of startup grants just waiting for you to tap into. From the Startup SG Founder Grant to the Productivity Solutions Grant, there’s something for every budding business. Curious about how to snag these funds and turn your dreams into reality? Let’s investigate!
Startup SG Founder Grant
The Startup SG Founder Grant is an exciting opportunity for novice entrepreneurs in Singapore! If you’re a novice entrepreneur with a solid business idea, this grant could provide you with SGD 20,000 to SGD 50,000.
An incredible chance for new entrepreneurs in Singapore to secure SGD 20,000 to SGD 50,000 for their innovative ideas!
To qualify, you need to meet certain grant eligibility criteria, like being a Singaporean citizen or permanent resident and owning at least 30% of your business. Plus, you’ll have to complete some training in entrepreneurship.
One of the coolest perks is the mentorship benefits! You’ll team up with an Accredited Mentor Partner to guide you through your startup experience.
This support helps you refine your idea and adapt to the market, making it much easier to succeed. So, prepare to jump in!
Startup SG Tech
If you’re diving into the world of tech startups in Singapore, the Startup SG Tech grant is a fantastic resource! This program offers funding opportunities for groundbreaking tech companies, helping you bring your ideas to life.
You can get up to SGD 400,000 for Proof-of-Concept (POC) and up to SGD 800,000 for Proof-of-Value (POV). But hold on! There are startup requirements. Your company must be locally incorporated, with at least 30% local shareholding and paid-up capital of 10% for POC or 20% for POV.
The application process isn’t too scary—you just need to submit a Registration of Interest and a detailed project proposal. Use the funds for prototypes, patents, and product trials to make your tech dreams a reality! Additionally, leveraging AIDA grants can further enhance your startup’s capacity to innovate and grow in the competitive AI landscape.
Productivity Solutions Grant (PSG)
Ready to improve your business productivity? The Productivity Solutions Grant (PSG) is here to help! This grant offers up to 70% funding for eligible costs related to adopting IT solutions and equipment.
To qualify, your SME needs at least 30% local shareholding, annual sales under S$100 million, or fewer than 200 employees. Additionally, ensure your business structure aligns with the specific regulatory requirements to maximize your chances of receiving funding.
Check out the table below for a quick overview:
| PSG Eligibility Criteria | PSG Application Process | Solutions Covered |
|---|---|---|
| 30% local shareholding | Choose from a pre-approved list | Customer management |
| Sales turnover < S$100 million | Submit claims post-implementation | Data analytics |
| Employment size ≤ 200 | Financial management | |
| Inventory tracking | ||
| diverse industry-specific solutions |
Embrace tech adoption and elevate your efficiency!
Business Improvement Fund (BIF)
Looking to give your tourism business a lift? The Business Improvement Fund (BIF) might be just what you need! This grant supports groundbreaking projects that improve your operations.
To qualify, you’ll need to meet the BIF eligibility criteria, which means being a registered business in Singapore and showing your commitment to improvement.
Eligible expenses include consultancy fees, hardware, software, training, and even internal manpower costs.
The BIF application process requires you to submit third-party audited documentation for reimbursement, so keep those receipts handy!
Funding varies depending on your project scope and whether you’re an SME or a non-SME.
Market Readiness Assistance (MRA) Grant
Expanding your business into international markets can feel like an intimidating adventure, but the Market Readiness Assistance (MRA) Grant is here to help you navigate this exciting expedition!
With this grant, you can get reimbursed for up to 70% of qualifying costs, capped at $100,000 per new market. Here’s what you need to know:
- Eligible expenses include feasibility studies, market entry costs, and marketing promotions.
- You must have at least 30% local shareholding and an annual turnover under $100 million.
- The grant application requires a proposal outlining your market entry strategy.
This grant aims to elevate your market expansion efforts and improve your global competitiveness.
Innovation, R&D and Capability Development Incentives (EDB)
When you plunge into the world of innovation and research in Singapore, you’ll find a wealth of incentives waiting just for you!
The Economic Development Board (EDB) offers fantastic options like tax exemptions for businesses diving into innovation strategies and R&D funding.
The Pioneer Certificate Incentive (PC) gives you a break if you’re starting a new industry, while the Development and Expansion Incentive (DEI) supports those expanding their operations.
Don’t forget the IP Development Incentive (IDI) that rewards you for commercializing your intellectual property.
Plus, EDB provides training support packages to enhance your R&D capabilities. To qualify, just show your commitment to innovation and invest considerably in R&D activities.
Additionally, ensure that your startup meets all necessary compliance requirements to maximize your eligibility for these grants. Prepare to raise your game!
Conclusion
So, there you have it! Singapore’s startup grants are a fantastic way to kickstart your entrepreneurial expedition. Did you know that in 2024, over 1,000 startups received funding? That’s a lot of support! If you’ve got a great idea, don’t hesitate to plunge in and apply. These grants can help turn your vision into reality. Remember, every big business started as a small idea, so take that leap! You’ve got this!