Funding in Singapore

Private Funding

Angel Funding & Venture Capital

Angel Funding, or investment by individual investors more and more closely resembles Venture Capital fundraising. Investors who were burned in the heady dot com days are far more stringent in terms of choosing projects to fund than previously. Many angel investors are, or have been, entrepreneurs themselves and understand the pitfalls of poorly-conceived business plans. Far more important is the fact that investors evaluate business ideas in a very different light than the entrepreneurs themselves. Here are some useful links:

BANSEA, the Business Angel Network of SE Asia

www.bansea.org

This informal society holds networking events and business-plan pitching luncheon sessions regularly in Singapore. INSEAD has hosted BANSEA on occasion, and members of BANSEA may invite startups seeking financing to present at these meetings.

Ventures International Group (Singapore) Pte Ltd
www.ventures-international.net

Specialises in assisting its Capital Raising clients to obtain Private Equity and Debt funding from its investor network.

SVCA
www.svca.org.sg
The Singapore venture capital association essentially represents the VC industry in Singapore and is a networking and information sharing association organizing events related to the VC industry in Singapore.

Entrepreneurship Support

NUS Enterprise
enterprise.nus.edu.sg
NUS Enterprise supports aspiring entrepreneurs in their startups. Their BLOCK71 locations provide a physical locus for expanding start-ups to access new markets while leveraging NUS Enterprise’s global network of resources and contacts. Entrepreneurs in the BLOCK71 family also enjoy comprehensive support services from NUS Enterprise such as dedicated mentoring support, access to funding, exclusive networking opportunities that go beyond physical space, and assistance to integrate into the local ecosystems seamlessly.

Business Plan Competitions

INSEAD Venture Competition (IVC)
www.insead.edu
The INSEAD Venture Competition is a bi-yearly competition for current INSEAD degree programmes of MBAs, EMBAs and MFin participations, with Finals in June and December. It allows students of INSEAD to pitch their venture concept and business plans. Judges are either venture capitalist, angel investors and/or entrepreneurs, who will designate the prize and award winners of the competition.

Lee Kuan Yew Global Business Plan Competition
www.smu.edu.sg/lky
The SMU-organised competition allows business plan entries from all over the world, and offers cash prizes with a top prize of US$20,000 (2006). Finalists from outside Singapore are offered economy air fares and hotel accommodation. The competition is open to university, polytechnic and college undergraduates only.

Networking Events

Chambers of Commerce

Singapore is host to many chambers of commerce and business associations usually delineated along national lines. These organizations are excellent focal groups for entrepreneurs seeking new business or potentially funding by spreading word of mouth among investors and other business people. These business associations are also informed of upcoming industrial events, as well having industry focus groups and subcommittees. Hence joining one of the associations can help you gain access to important players in each industry. Among the major international business organisations are the following:

Industry-specific Events

Often held in concert with the Chambers of Commerce, industry-specific events are good places to hunt for contacts and possible future investors. For example, if you wish to start a media company, the annual Asian Film Festival is Singapore's equivalent of Cannes for schmoozing. Singapore is developing a conference hub for SE Asia, thus if you wish to base yourself in this part of the world, you should keep an eye out for events taking place throughout the year. Suntec Exhibition and Conference centre is the main conference centre in Singapore, and notices of its events are posted on its website.

Bank Loans

Government Assistance

The Singapore government has structured several financial incentive, investment and grant schemes to stimulate and support entrepreneurship in the country. The emphasis is usually on products and services which are exportable, and especially those that employ and train Singaporeans in high value-add, innovative industries based on knowledge.

Enterprise Singapore

enterprisesg.gov.sg

Enterprise Singapore's Startup SG brings together an array of schemes and a network targeted at nurturing a startup at any size or stage of growth.

Startup SG Founder:
Provides a platform for matching mentors to startups, as well as funding up to $30,000 to first-time entrepreneurs with innovative business ideas by matching $3 to every $1 raised by the entrepreneur for up to $30,000.

Startup SG Tech:
The grant fast-tracks the development of proprietary technology solutions, and catalyses the growth of startups based on proprietary technology and a scalable business model. Through Startup SG Tech, companies may receive early-stage funding for the commercialisation of proprietary technology.

Startup SG Talent:
Facilitates a conducive environment for global talent to join local startups and set up innovative businesses in Singapore.

Startup SG Network:
An online portal that enables startups to connect with players such as accelerators, incubators and investors within the Singapore startup ecosystem. Through the network, startups and multipliers across 30 technology sectors can profile themselves and seek potential partnerships and deal flows.

Startup SG Accelerator:
Aims to work with incubators and accelerators in strategic growth sectors, and to catalyse growth of high potential startups through the mentorship and networks of selected partners.

Startup SG Infrastructure:
Provides startups with the spaces that they need to grow, experiment and flourish. Launchpad brings together a diverse community of startups, accelerators, incubators, venture capitalists and ecosystem players in a communal environment where knowledge-sharing and collaboration can take place.

Startup SG Loan:
Highlights government-backed loans for startups' working capital, equipment/factory financing and trade financing needs, offered through Participating Financial Institutions.

Startup SG Equity:
The government co-invests with independent, qualified third party investors into eligible startups. This scheme aims to stimulate private-sector investments into innovative, Singapore-based technology startups with intellectual property and global market potential.

Startup SG Investor:
Highlights tax incentives for individuals or fund management companies that are actively investing in startups and/or other Singapore companies.

EDB Singapore

www.edb.gov.sg

To develop high-value and substantive economic activities in Singapore, the Singapore Economic Development Board encourages businesses to upgrade their capabilities or expand the scope of their business operations in Singapore through several incentives and schemes.

Pioneer Certificate Incentive (PC) & Development and Expansion Incentive (DEI):
Encourage companies to grow capabilities and conduct new or expanded economic activities in Singapore. Companies that carry out global or regional headquarters (HQ) activities of managing, coordinating and controlling business activities for a group of companies may also apply for the PC or DEI for the HQ activities.

Finance and Treasury Centre (FTC) Incentive:
Encourage companies to grow treasury management capabilities and use Singapore as a base for conducting strategic finance and treasury management activities.

Aircraft Leasing Scheme (ALS):
Encourage companies to develop aircraft leasing capabilities and grow the aircraft leasing industry in Singapore.

Research Incentive Scheme for Companies (RISC):
Encourages the development of research and development capabilities and technologies through the support of projects in the areas of science and technology.

Training Grant for Company (TGC):
Encourages manpower capability development in applying new technologies, industrial skills and professional know-how through the support of training programmes for companies’ employees.

Intellectual Property (IP) Development Incentive (IDI):
Encourage the use and commercialisation of intellectual property rights arising from research and development (R&D) activities.

Resource Efficiency Grant for Energy (REG(E)):
Supports industrial facilities in the manufacturing sector to be more energy efficient and improve competitiveness.

Land Intensification Allowance (LIA):
Aims to promote the intensification of industrial land use towards more land-efficient and higher value-added activities.

IMDA

www2.imda.gov.sg

The Infocomm Media Development Authority develops and regulates the converging infocomm and media sectors in a holistic way, creating a dynamic and exciting sector filled with opportunities for growth, through an emphasis on talent, research, innovation and enterprise.

Company-Led Training Programme (CLT):
Aims to accelerate professional development through on-the-job training programme for fresh to mid-level professionals acquiring competencies for jobs in demand by industry, especially those that support the Digital Economy sector transformation efforts.

GoCloud:
Supports local ICT SMEs to transform traditional software architecture and development practices to applications deployed and delivered as Cloud-Native applications using Microservices and DevOps, so that they can be more agile, flexible and scalable.

GoSecure:
Designed to increase the cybersecurity capabilities of our local ICT companies and improve their product security posture. The programme helps to identify security gaps in their products and solutions through Security by Design consultation and vulnerability assessment to reduce cybersecurity risks.

New Talent Feature Grant (NTFG):
Encourages first and second-time directors to launch their careers in filmmaking by helping them make films for different platforms, including cinemas, film festivals, broadcast, video-on-demand, or online platforms.

Overseas Participation Grant:
Supports media professionals who have been selected for international programmes and platforms that are designed to develop their skills and projects, and build up their international connections and perspectives.

Production Assistance:
Provides funding for productions with original IPs that highlight Singapore talents in credited roles, and infuse data and/or digital technologies into content for distribution on new and/or digital platforms.

Short Film Grant (SFG):
Provides funding for short films that are digitally made and distributed.

SkillsFuture Study Award:
A monetary award to help Singaporeans equip themselves with the skills needed to benefit from quality jobs created by our economy. It encourages Singaporeans to deepen specialised skills needed by future economic growth sectors or in areas of demand.

Southeast Asia Co-Production Grant (SCPG):
Encourages film talent in Singapore and the Southeast Asian region to jointly produce quality stories for the world.

Talent-Assistance (T-Assist):
An initiative under IMDA’s Media Manpower Plan that aims to strengthen the media capabilities of the local workforce. Under the initiative, funding support is provided to eligible companies and individuals to encourage them to acquire deeper skills and competencies through a list of pre-approved media courses, focusing on courses at intermediate and advanced levels.

ACE

ace.org.sg

Action Community for Entrepreneurship is a national private sector-led organisation to drive entrepreneurship and innovation in Singapore. Launched in 2003 by the Ministry of Trade & Industry and restructured as a private entity in 2014, ACE is supported by the government.

SBF

sbf.org.sg

The Singapore Business Federation (SBF) is the apex business chamber championing the interests of the Singapore business community in the areas of trade, investment and industrial relations. It represents 25,800 companies, as well as key local and foreign business chambers.

In July 2001, the Minister for Trade and Industry introduced a Bill in Parliament to establish the SBF Act, which was passed by Parliament and became law on 5 Oct 2001.

The Federation was then established on 1 April 2002, with the aim of representing the business community’s interests both locally and overseas.

Under the SBF Act, all Singapore-registered companies with share capital of S$0.5 million and above are members of SBF.

The federation serves three key functions:

They are the bridge between Singapore’s business community and the Government;
They are the business community’s representative in building bilateral, regional and multi-lateral relationships;
They are a key provider of capability-building initiatives and services for Singapore businesses.

Business Advocacy

SBF generates objective research and data for deep constructive engagement with the Government. As the national business voice, the Federation provides deep insight-driven national-level advocacy and follow-up action.

The SBF Committees, including their SME Committee, are at the forefront of their advocacy efforts.

Advocacy initiatives led by SBF include the SBF Position Paper for a Vibrant Singapore, the annual National Business Survey, quarterly SME Sentiment Index surveys as well as post-Budget surveys.

Internationally, SBF champions its members’ needs on the global stage through participation in prominent international business forums.

These include the ASEAN Business Advisory Council, Asia Pacific Economic Cooperation Business Advisory Council, B20 and the International Chamber of Commerce.

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