🌱 What is Startup SG Founder?
Startup SG Founder is a flagship grant from Enterprise Singapore designed to support first-time entrepreneurs with innovative business ideas. It combines:
- Mentorship through Accredited Mentor Partners (AMPs), and
- Funding of up to S$50,000, matched on a dollar‑for‑dollar basis (up to the cap above).
Founders typically contribute S$20,000 as paid‑up capital—this shows commitment and unlocks full access to the grant.
Eligibility Overview
To qualify, both the founding individuals and the company must meet specific conditions. They can be grouped into four categories:
- Founders’ profile
- Company setup
- Business stage
- Contribution & commitment
Let’s break them down:
1. Founders’ Profile
a. First‑time founders
All primary applicants must be first‑time founders, meaning none have previously registered a company under ACRA or received funding under Startup SG Founder.
b. Singapore Citizens or PRs only
Applicants must hold Singapore citizenship or Permanent Residency. International founders are not eligible unless partnered with SC/PRs.
c. Equity ownership of at least 30% collectively
Founders together need to own at least 30% of the company’s shares upon application.
d. Key decision‑makers
Applicants should have significant roles in strategy and operations—ordinary investors or passive backers generally aren’t sufficient.
e. Full‑time commitment required
Founders must fully dedicate themselves to the startup. Employment elsewhere that contributes CPF, National Service, part‑time studies, or commitments disqualify this requirement.
f. Entrepreneurship training
Most AMPs (like universities and accelerators) require founders to undergo a brief entrepreneurship training before endorsement.
2. Company Setup
a. Private Limited company in Singapore
Must be incorporated under ACRA as a Pte Ltd company.
b. Less than six months old
At the time of application, the incorporation date should be within six months. This ensures early‑stage focus.
c. At least 51% local shareholding
Majority ownership must rest with SC/PR—this includes future equity structures, not just founder holds.
d. Paid‑up capital requirement
The company needs S$20,000 in paid‑up capital, with at least S$10,000 available upon submission.
3. Business Stage & Restrictions
a. Innovative & scalable idea
The business concept should be truly novel or uniquely positioned, with strong market scalability.
b. Predominantly Singapore‑based operations
While regional expansion is acceptable, core operations, team, and market activities should focus on Singapore.
c. No prior government funding
The company must not have received grants or funding from any other government scheme for the same venture.
d. No duplicate ideas
If founders previously applied and failed, they may reapply only if the business is fundamentally reworked.
e. Exclusions apply
Certain business types are ineligible (e.g., cafés, restaurants, bars, massage parlors, gambling, employment agencies, geomancy, etc.).
4. Contribution & Commitment
a. Founders must co‑match
Collectively, founders must invest S$20,000 in paid‑up capital. This may be via cash or other assets.
b. Active involvement in milestones
The AMP sets key milestones (revenue targets, product development, user traction, etc.) and monitors grant disbursement based on these achievements.
Full List of Eligibility Conditions (Summary)
| Category | Requirements |
|---|---|
| Founders | – First-time founders – SC/PR only – ≥30% joint equity – Key role & full-time commitment – Completed entrepreneurship training |
| Company | – Private Limited in Singapore – Incorporated ≤6 months – ≥51% local shareholding – Paid-up capital ≥S$20k (≥S$10k on submission) – Not previously funded |
| Business | – Innovative & scalable idea – Primarily Singapore-based operations – Not in excluded sectors |
| Funding & Grant | – S$20k co-match by founders – Milestone-based disbursement via AMP |
How It All Works
- Approach an Accredited Mentor Partner (AMP)
Choose an AMP (eg. SMU IIE, NUS, SUTD, SUSS) and pitch your startup. You’ll typically undergo training and mentorship as part of their program. - AMP evaluation
They’ll assess your idea, team fit, readiness, and training completion. If supported, they issue an AMP Recommendation Letter and define key milestones. - Application to Enterprise SG
Submit your application with AMP letter, ACRA Bizfile, founders’ IC, CVs, business plan/pitch deck, and evidence of paid‑up capital. - Grant assessment
Enterprise SG validates eligibility and milestones; this may take a few weeks. - Letter of Offer
If approved, you’ll receive an offer to disburse up to S$50,000, subject to milestone completion. - Milestone delivery + co‑matching follow‑through
You unlock part or all of the grant as milestones are met, and founders maintain matched paid‑up capital. - Grant closure & reporting
AMPs verify project progress. Breach of terms (e.g. withdrawal of commitment, misuse) can lead to clawback.
Behind the Scenes: Why This Eligibility?
- Encouraging first-time founders: Ensuring support goes to fresh entrepreneurial journeys.
- Ensuring commitment: Paid‑up capital and full-time involvement align financial skin in the game.
- Operational readiness: Young companies (<6 months) typically need structured early-stage support.
- Local value focus: SC/PR ownership and Singapore-based core operations ensure ecosystem benefits remain domestic.
- Quality control: Entrepreneur training and AMP evaluation maintain a high bar for startup quality.
Common Questions
Q: Can non-SC/PR be co-founder?
Yes, but core applicants must be SC/PR and hold ≥30%. Non-SC/PR can be involved in other capacities.
Q: Can I apply before incorporation?
Yes—as long as incorporation occurs and stays within 6 months before submission.
Q: I’ve run a sole-proprietorship before. Does it count?
Yes—you’ll lose “first-time founder” status if you previously started a business, regardless of structure.
Q: Can AMPs invite second-time founders?
AMPs can include experienced part-time co-founders, but primary applicants must still be first-time founders.
Q: What if my business evolves from a previous IDE?
As long as it’s substantially new in concept, team, and direction, reapplication is allowed—but strategic changes are expected.
Tips to Strengthen Your Application
- Pick the right AMP: Check that their expertise aligns with your startup’s domain—some focus on deep tech, others on consumer, etc.
- Invest in training: Make the most of entrepreneurship bootcamps—some AMPs require formal completion.
- Structure your equity early: Plan co-founders’ shareholding transparently to meet the ≥30% threshold.
- Document paid-up capital: Ensure you have at least S$20,000 committed, with evidence of S$10,000 upfront.
- Be milestone-ready: Work with your AMP to define realistic, measurable milestones tied to customer traction or MVP development.
- Stay compliant: Avoid business models in excluded sectors; cross-check with Enterprise SG if unsure.
What Happens After Receiving the Grant
- You continue mentoring with your AMP for up to 12 months, possibly extending if required.
- Funds are disbursed in tranches—e.g., S$10k, S$20k, etc.—upon demonstrable progress.
- You integrate into AMP’s ecosystem: networking, investor connects, incubation offerings.
- If milestones aren’t met or terms breached, funding may be paused or retracted—strong motivation to deliver.
Final Thoughts
Startup SG Founder is tailored for first-time, deserving entrepreneurs in Singapore. It supports you with financial anchoring and structural backing from experienced mentors.
To qualify:
- You and your co-founders must be first-time SC/PR entrepreneurs, with key roles and full-time commitment, holding at least 30% equity.
- Your startup needs to be registered in Singapore, less than six months old, and have majority local shareholding.
- You contribute S$20k to co‑match the grant, and your business should be innovative and Singapore-focused.
- Work with an AMP, complete training, set milestones, apply, and deliver!
If you tick those boxes, you’ll be eligible to tap into mentorship, financial support, and a launchpad that could propel your startup forward.
Ready to take the leap?
Identify the AMPs that match your startup’s industry and mission, engage with them early, and use this as a framework to build your application. With preparation and determination, Startup SG Founder could be your gateway to realising your entrepreneurial vision in Singapore.