The schemes, grants and loans stated below are subject to certain terms and conditions that the businesses must fulfill to avail them.
Equity Financing – Raise funds for company activities by selling common or preferred stocks to individual or institutional investors through dollar-matching and co-investment schemes.
SPRING SEEDS
– is an equity-based co-financing option for Singapore-based start-ups with innovative products and/or processes with intellectual content and strong growth potential across international markets.
SPRING Singapore, co-invests in commercially viable Singapore-based start-ups along with independent third party investor(s), matching dollar-for-dollar up to a maximum of S$ 1 million.
Business Angel Scheme (BAS) – start-ups that obtain investment interest and commitment from any of the participating business angel investors can apply for matching investment from SPRING Singapore. SPRING may match the investment dollar-for-dollar for up to a maximum of S$ 2 million.
Grants and Tax incentives
ACE Start-ups Scheme – provides funding support to entrepreneurial Singaporeans who want to take their first step in starting differentiated business. The grant is awarded based on four key evaluation criteria – differentiation, business model feasibility, potential market opportunity and management team. SPRING will match S$7 to every S$3 raised by the entrepreneur for up to S$ 50,000.
Innovation & Capability voucher – is valued at S$5,000 to encourage Small and Medium Enterprise (SME) to develop their business capabilities.
SMEs can use the voucher to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources and financial management. ICV also supports SMEs in the adoption and implementation of integrated solutions to improve efficiency and productivity.
Capability Development Grant (CDG) – is a program that helps a business to develop its capabilities across 10 hey business areas. The grant funds up to 70% of the qualitative project costs such as training, certification, increasing productivity, product development, process improvement and market access.
Productivity and Innovation Credit Scheme (PIC) – is a tax incentive scheme. Under the scheme businesses enjoy 400% tax deductions/allowances for qualifying expenditure incurred in any of the six qualifying activities from the year of assessments (YAs) 2011 to 2018.
For YA 2013 to 31 Jul 2016 eligible businesses can also exercise an irrevocable option to convert qualifying expenditure of up to S$100,000 for each YA into cash, at a conversion rate of 60%. For the qualifying expenditure incurred from 1 Aug 2016 the conversion rate is at 40%.
PIC scheme is not available from YA 2019.
Loans
SME Micro-Loan Programme – Companies with 10 or less employees can access working capital financing of up to S$100,000 to support their day-to-day business operations.
SME Working Capital Loan – Companies can access unsecured working capital financing up to S$ 300,000 to support their day-to-day business operations through the programme from 1 June 2016 to 31 May 2019.
Note: The above list is not comprehensive