The Startup SG Founder (SSGF) Programme is a grant for first time entrepreneurs. It helps them to start their business by providing mentorship and financial support.

The SSGF will provide two forms of support.
1) A start up grant
2) Mentorship from Accredited Mentor Partners (AMPs)

The mentorship includes pitch training, network opportunities with investors and corporations as well as secretarial and accounting support.

With effect from 1st April 2024, Enterprise Singapore (ESG) will provide 1 to 1 matching support with the amounts ranging from SGD$20,000 to SGD$50,000. This means that the applicants will need to put up the amount of funds as paid up capital and ESG will match that amount. For example, if the applicant puts up SGD$30,000, then ESG will put up the corresponding SGD$30,000 as well.

First step: Applicants will have to work with their respective AMPs to submit their applications to ESG.

Second step: Applicants are required to inject the co-matching paid up capital into their startup.

This co-matching paid up capital may also originate from the AMP’s or a third party’s investment into the start up.

 

Criteria for Startup

  • Funding Restrictions: The startup must not have received funding from any other government organization for the same business idea.
  • Ownership Requirements: At least 51% of the issued shares must be owned by Singapore Citizens (SC) or Singapore Permanent Residents (PR).
  • Registration: The startup must be registered as a private limited company in Singapore for less than six months.
  • Operational Base: The startup’s primary headquarters activities, such as management and product development, must be conducted entirely or predominantly in Singapore.
  • Business Scope: The proposed business idea must not fall under the following categories: cafes, restaurants, nightclubs, lounges, bars, foot reflexology, massage parlors, gambling, prostitution, social escort services, employment agencies (including recruiting foreign work permit holders and workers/support staff, relocation services, and manpower services), and geomancy.

 

If you need more information and assistance on applying for the Startup SG Founder grant, do contact the Raffles Corporate Services grant team at [email protected].

 

Yours sincerely,

The editorial team at Raffles Corporate Services