There are a lot of startup companies in Singapore. Many people want to build a new company in this country. They can find a lot of great opportunities that are available in this country. The Singapore’s government also supports the development of many startups these days. There are some grants that are offered by the government for all startup companies. People should consider some of these grants during their Singapore business formation period. These grants can help all business owners grow their companies quickly without having to worry about the available cash. Here are some recommended grants that people should consider today.
1. ACE Startup Grant
This is one of the best grants given by the government for new startup companies. This grant can give up to S$50,000 for innovative businesses. This grant can give full support for all entrepreneurs who want to build their first businesses in any differentiated businesses. It is not difficult to apply for this grant. There are several important requirements that people have to fulfill, so they can get this grant.
This grant is created for Singapore citizens and also Permanent Residents. who have their business for the first time. They also need to have at least 51% equity in their own companies. They should be more than please to stay committed to the company as their full time job. The company should not be registered for more than 6 months at the submission date. People can start this application from their Singapore business formation.
2. ComCare Enterprise Fund
ComCare Enterprise Fund (ECF) is another recommended grant that people should consider today. This grant is specially created to provide enough fund for all social enterprises who help needy disadvantaged Singapore citizens become self-reliant. It is available for all enterprises that operate within the social service area. This special fund is created to improve the social projects done by some enterprises in this country.
This fund can finance up to 80% of the total project costs from any eligible social enterprises in this country. The enterprises should be able to provide proper employment and training programs for all disadvantaged Singapore citizens, such as ex-offenders, older citizens, less educated persons, and many other people who are suffering from psychiatric illnesses.
3. Technology Enterprise Commercialisation Scheme
Some people are interested with the Technology Enterprise Commercialisation Scheme. This grant is specially created for technology oriented startup companies. It is also suitable for some small and medium enterprises who are planning to develop their own technology ideas. This grant can help all business owners develop their prototypes in the technological area. This grant is given by the SPRING Singapore.
This is a competitive grant that has a lot of applicants today. Many startup companies are planning to get this grant for developing their own companies. All applications are reviewed by professional reviewers from this organization. When people are planning to apply for this specific grant, they should submit their applications via the TECS Portal that is located inside the official SPRING website.
4. Ideas.Inc Business Challenge
IdeasInc business challenge is supported by the government and some partners, such as Nanyang Technological University (NTU), SPRING Singapore, SCAPE, INFOCOMM Development Authority of Singapore, and some other partners. This grant is going to provide up to S$65,000 for the first time entrepreneurs who are still within 18 and 26 years old. They should be able to maximize this fund for commercializing their products or services.
In order to obtain this fund, people should create teams of 2 – 6 members. This team should have at least one citizen or permanent resident. All applicants should be ready to start their Singapore business formation with their business activities mainly based in this country. There are a lot of opportunities that are offered for all winners from this business challenge. All winners can work with some angel investors in this country.
They are some recommended grants that people should consider today. These grants are very useful to help them grow their business in this country quickly. The application for getting these grants is not difficult to do. Each grant usually has its own requirements and procedures. People should take a look at these requirements before they can apply for their favourite grants. Most applications can be submitted via online application, so people can start the application from the beginning of their Singapore business formation. It is very simple to start the application for getting some of these grants.