13 Startup Schemes and Grants in Singapore
- 13 Startup Schemes and Grants in Singapore
Business-incubating infrastructure, tax incentives, cash grants, or financing schemes; everything that a new company desires, Singapore has it. In fact, the Government has recently rolled out several initiatives to propel the nation towards a thriving start-up ecosystem.
To get ahead of the fierce global competition for talented entrepreneurs, Minister of State for Trade and Industry Mr Koh Poh Koon announced the launch of Startup SG in March 2017.
Startup SG is the umbrella branding unifying all the support schemes for startups in Singapore. Essentially a launch pad for entrepreneurs by providing them a platform to access local support initiatives as well as connect to the global entrepreneurial network, Startup SG is your go-to one-stop source for loans, grants, funding and capability-enhancement.
The Government, meanwhile, has also overhauled the EntrePass work pass scheme with further enhancements to the evaluation criteria in a bid to facilitate the entry of global entrepreneurial talent into Singapore.
This came at the backdrop of significant increase in the number of start-ups in the country over the last decade or so. The number was 48,000 in 2015, as compared to 22,000 in 2003. And with recent developments where the authorities have extended more support to start-ups in terms of funding and talent, this number is bound to increase even further, adding to Singapore’ reputation as a regional hub for start-ups.
So if you have decided to be a part of the city-state’s vibrant startup ecosystem and incorporate a company in Singapore, below is the exhaustive list of all the governmental support you can receive here.