Starting a business in Singapore comes with many perks: a pro-business environment, strong intellectual property protection, world-class infrastructure, and most importantly, government support in the form of grants and funding schemes.
For startups looking to scale or validate their business model, these grants can provide crucial financial support and credibility. However, navigating the landscape of startup grants can be challenging, especially for first-time entrepreneurs.
In this article, we explore the major startup grants available in Singapore, explain what they support, and offer guidance on how to assess which grants are most suitable for your business.
1. Startup SG Founder Grant
Administered by: Enterprise Singapore
Maximum Funding: Up to $50,000
The Startup SG Founder Grant is one of the most well-known and accessible grants for first-time entrepreneurs. It is designed to encourage local entrepreneurs to take their first step into the world of startups.
Key Features:
- Co-matching ratio: Enterprise Singapore matches $5 to every $1 raised by the founder, up to a cap of $50,000.
- Applicants must go through a Startup SG Accredited Mentor Partner (AMP) who will assess their business idea and provide support.
Eligibility:
- At least 30% Singaporean/PR shareholding.
- The main applicant must be a first-time entrepreneur.
- The startup must be less than six months old at the point of application.
This grant is excellent for early-stage validation and for founders seeking seed capital.
2. Startup SG Tech Grant
Administered by: Enterprise Singapore
Maximum Funding: Up to $250,000 (POC) / $500,000 (POV)
The Startup SG Tech grant is targeted at deep tech startups looking to develop innovative proprietary technologies. It supports startups through:
- Proof-of-Concept (POC) stage: Validating the technical or scientific feasibility.
- Proof-of-Value (POV) stage: Developing a working prototype.
Key Features:
- Grant is non-dilutive (you don’t give up equity).
- Up to 70% of qualifying costs are covered.
Eligibility:
- Startup must be a Singapore-registered company.
- Must own or intend to own intellectual property (IP).
- Demonstrates strong technical capabilities and a scalable business model.
This grant is perfect for R&D-focused startups in sectors like AI, biotechnology, medical tech, sustainability, and robotics.
3. Enterprise Development Grant (EDG)
Administered by: Enterprise Singapore
Maximum Funding: Up to 50% of qualifying project costs
While not startup-exclusive, the Enterprise Development Grant (EDG) is valuable for growth-stage startups. It supports projects in three categories:
- Core Capabilities (e.g. brand strategy, financial management)
- Innovation & Productivity (e.g. automation, process redesign)
- Market Access (e.g. internationalisation)
Key Features:
- Covers costs such as consultancy, equipment, training, and software.
- Must show clear business growth plans and outcomes.
Eligibility:
- Singapore-registered entity with a minimum of 30% local shareholding.
- Startup must be financially viable to execute the project.
EDG is suitable for startups that are past the idea stage, already generating revenue, and ready to invest in transformation or expansion.
4. Productivity Solutions Grant (PSG)
Administered by: IMDA & Enterprise Singapore
Maximum Funding: Up to 50% of solution costs
The Productivity Solutions Grant (PSG) helps startups adopt pre-approved IT solutions, equipment, and consultancy services to improve productivity.
Areas Supported:
- Accounting
- Human Resource
- Digital Marketing
- E-commerce
- Inventory Management
- Cybersecurity
Key Features:
- Solutions are pre-approved, reducing vetting time.
- Grant support is capped at 50% of the cost.
Eligibility:
- Singapore-registered business with at least 30% local shareholding.
- Solution must be used in Singapore.
Startups that want to digitally streamline operations early on can benefit greatly from PSG.
5. Market Readiness Assistance (MRA) Grant
Administered by: Enterprise Singapore
Maximum Funding: Up to 70%, capped at $100,000 per new market
While this grant is not only for startups, those aiming for international expansion early in their journey can tap on the MRA grant.
Covered Areas:
- Overseas market promotion (e.g. trade shows, marketing)
- Business development (e.g. setting up local office)
- Market set-up (e.g. legal and tax advisory)
Key Features:
- Funding support for new market entry only.
- Grant is capped at $100,000 per company per fiscal year.
Startups with scalable business models and global ambitions will find MRA especially useful for early market penetration.
6. SkillsFuture Enterprise Credit (SFEC)
Administered by: SkillsFuture Singapore
Maximum Funding: Up to $10,000 credit
The SFEC provides additional support for training and enterprise transformation.
Key Features:
- Covers up to 90% of out-of-pocket expenses for eligible enterprise transformation and workforce upgrading programmes.
- Can be used in conjunction with other grants like PSG and EDG.
Eligibility:
- Startup must have contributed at least $750 in Skills Development Levy (SDL).
- At least three local employees in the preceding year.
This grant is useful for early-stage companies looking to build employee capabilities and improve internal processes.
7. Startup SG Equity
Administered by: Enterprise Singapore
Type: Co-investment Scheme
Startup SG Equity is a co-investment grant where the government invests in deep tech startups alongside qualified third-party investors.
Key Features:
- Enterprise Singapore will match private investments dollar-for-dollar.
- Greater co-investment ratio (e.g. 7:3) if the startup is in a strategic sector (like medtech or clean energy).
Eligibility:
- Singapore-based startup with IP rights.
- Fundraising through an approved third-party investor.
While not a grant in the traditional sense, it provides access to government-backed investment and opens doors to new funding networks.
8. Other Sector-Specific Startup Grants
Depending on your industry, there are sector-specific grants that your startup might qualify for:
a. Health and Biomedical Startups
- NRF Translational R&D Grants
- Temasek Foundation Health Innovation Grants
b. Sustainability and Green Startups
- Energy Efficiency Fund (E2F) by NEA
- Low-Carbon Energy Research Funding Initiative
c. Financial Technology (FinTech) Startups
- MAS Financial Sector Technology and Innovation (FSTI) Scheme
These grants support innovation and commercialisation within niche but high-growth sectors.
Tips for Startups Applying for Grants
- Be Clear on Your Business Model
Have a well-defined problem, solution, target market, and revenue model. - Get Your Financials Ready
Grants often require financial forecasts, past statements, or capital commitment details. - Engage Accredited Mentors or Consultants
Many grants (especially Startup SG Founder) require endorsement by mentor partners or involve complex application processes. - Don’t Over-Apply
Apply for grants that truly align with your current goals. Over-applying may affect credibility and strain your execution resources.
Conclusion
Singapore’s startup ecosystem is well-supported through a wide range of government grants and funding schemes. Whether you’re just starting with an idea or looking to scale internationally, there’s likely a grant that fits your needs. From Startup SG Founder to EDG, PSG, and industry-specific grants, you can access capital, resources, and credibility to boost your growth.
However, it’s essential to apply strategically, align the grants with your business goals, and prepare thoroughly. Grants can give you a solid foundation, but it’s your vision, execution, and resilience that will ultimately determine your success.
If you’re unsure where to start or how to navigate these grants, feel free to reach out to GrantConsultant.sg for professional advice and application support.