9 Start-Up Government Grants in Singapore (and How to Apply)

Suppose you are an aspiring entrepreneur keen on starting your own business in Singapore or you already currently run a Singapore-registered startup. In that case, you may be interested in the various grants that are available to help you with the process of starting and running your own company.

This article will cover 9 such grants:

1. For first-time entrepreneurs: Start-up SG Founder (SSGF)
2. For tech startups: Start-up SG Tech
3. Investments for startups: Start-up SG Equity
4. Enhancing innovation: Enterprise Development Grant (EDG)
5. For IT improvements: Productivity Solutions Grant (PSG)
6. For maritime-related startups: MINT-Startup Grant
7. For social enterprises: VentureForGood (VG) Grant
8. For tourism-related businesses: Business Improvement Fund (BIF)
9. For overseas expansion: Market Readiness Assistance (MRA) Grant

What Grants are Available For Individuals Looking to Start a New Company in Singapore? 

1. For first-time entrepreneurs: Start-up SG Founder (SSGF)

The Startup SG Founder (SSGF) programme is targeted at first-time entrepreneurs looking to start their own businesses. It is offered by EnterpriseSG, a statutory board under the Ministry of Trade and Industry (MTI) which promotes enterprise development and aims to help businesses enhance their capabilities and expand into overseas markets. Under the SSGF programme, Accredited Mentor Partners (AMPs) provide funding and mentorship to recipients, including pitch training, networking opportunities and accounting support.

The SSGF programme provides first-time entrepreneurs with a startup capital grant ranging from $20,000 to $50,000 on a co-matching arrangement. This means that the scheme matches dollar for dollar the amount of money raised by the entrepreneur, up to a maximum of $50,000 in grants. To illustrate, if an entrepreneur wishes to receive $20,000 in grants, they will have to inject $20,000 capital into the business. Therefore, in order to receive the maximum value of the $50,000 grant, entrepreneurs themselves need to raise and commit $50,000 to the business.

The application process for the SSGF programme is as follows:

1. Ensure that you fulfil the eligibility requirements.
2. Approach one of EnterpriseSG’s AMPs with your business plan and find out more about their equity terms. The AMP will write a Letter of Recommendation and develop milestones with you if it wishes to support your startup.
3. Submit an application to EnterpriseSG via FormSG, with all the relevant documents enclosed. At this point, you must provide at least 50% of the co-matching capital required of you in the form of paid-up capital on ACRA Bizfile. EnterpriseSG will review your application and may contact you for further clarification if required. If your business satisfies the eligibility and evaluation criteria, EnterpriseSG will issue you a Letter of Offer. If you are not given a Letter of Offer, you may reapply by submitting a revised application to AMPs.
4. If given the grant, you will work towards the predetermined milestones under the mentorship of your AMP over the 12-month grant period.

For more information, you may refer to the Startup SG Founder page.

2. For tech startups: Startup SG Tech

Also under Startup SG, the Startup SG Tech grant aims to provide tech startups with early-stage funding to commercialise their innovative proprietary technology. Proprietary technology involves intellectual property or intellectual assets owned by the tech startup.  Examples of such intellectual property and assets could include a startup’s algorithms and software systems, their product designs, and even trade secrets.

Depending on your startup’s stage of development, you may apply for either a Proof-of-Concept (POC) or Proof-of-Value (POV) grant. The POC stage involves the conceptualisation of viable technological ideas, while the POV stage builds upon an idea that is already technically feasible, enabling the startup to work towards developing a working prototype.

A POC grant can go up to $400,000 while a POV grant is capped at $800,000. You will be required to demonstrate existing paid-up capital equivalent to a minimum of 10% of the POC grant and 20% of the POV grant.

Here is an overview of the application process for the Startup SG Tech grant:

1. Check that you fulfil the eligibility requirements. Among other requirements, you need to ensure that your project qualifies as either a POC or a POV project.
2. Download and complete the Registration of Interest (ROI) form found here, then submit it via go.gov.sg/askenterprisesg. When filling in the form, identify yourself as “a business owner” and select “Startup SG Tech” under “Enquiry Information”. Submit the completed ROI form by uploading it as an attachment together with a summary of your proposed project.
3. If your proposed project passes the preliminary assessment, you will have to submit a complete business proposal and cost breakdown via templates provided by EnterpriseSG, which will be evaluated by a third-party technical evaluator.
4. If your project is shortlisted, you will present your proposal to a final evaluation panel consisting of industry experts.
5. After passing the final evaluation, EnterpriseSG will issue you a Letter of Offer containing agreed milestones. You will work towards these milestones over a period of up to 18 months for POC projects or 30 months for POV projects, and grants will be distributed upon the completion of each milestone.

For more information, you may wish to visit the Startup SG Tech page.

3. Investments for startups: Start-up SG Equity

Start-up SG Equity aims to channel private sector investments into Singapore-based technology startups by targeting both startups and investors. Under this scheme, the government will co-invest in startups with independent third-party investors. There are different investment parameters for general tech and deep tech startups under this co-investment modality — general tech startups are entitled to investments of up to $2 million from SEEDS Capital, while deep tech startups can get up to $12 million.

The government will also invest in venture capital firms that will, in turn, invest in startups via a fund-of-funds approach. This approach is focused on deep tech startups in their early stages, particularly in the Advanced Manufacturing, Pharmbio/Medtech and Agri-food tech sectors. There must be a minimum fund size of $30 million and the Investee Fund can invest up to 20% of its fund size per investee company.

Here is what the application process for the Start-up SG Equity grant looks like:

1. Ensure that you satisfy the eligibility requirements for startups, as well as the type of approach (co-investment VS funds-of-funds).
2. If you are interested in co-investment, you must email a two-page executive summary and supporting documents including a business plan, financial statements, business ACRA and the background of potential co-investors (if available) to SEEDS Capital (seeds@enterprisesg.gov.sg) or SGInnovate (investmentsadmin@sginnovate.com).
3. If you are interested in fund-of-funds, you must submit a corporate deck or executive summary containing the relevant documents such as team credentials, track record of previous funds, investment focus areas and list of portfolio companies to EDBI at infohq@edbi.com.

More information on the two approaches, their respective investment parameters and other relevant details can be found on the Startup SG Equity page.

4. Enhancing innovation: Enterprise Development Grant (EDG)

The Enterprise Development Grant (EDG), offered by EnterpriseSG, is designed to support projects that empower Singapore companies to grow, innovate and expand overseas. The grant covers the following qualifying project costs: third-party consultancy fees, software and equipment, and the costs of internal manpower.

An example of a company that has utilised this grant is Qian Shui Wet Market, which conducted market research (via a consultancy) supported by the EDG in a bid to learn how to expand their reach to younger consumers less familiar with shopping in wet markets. The consumer insights study consisted of surveys, in-person interviews and even mystery shopping, contributing to customer journey mapping and allowing Qian Shui Wet Market to learn how to differentiate itself from supermarket chains.

Small and Medium Enterprises (SMEs) can receive up to 50% support for qualifying project costs. Sustainability projects may be supported up to 70% until 31 March 2026.

Here’s how to apply for the EDG grant:

1. Ensure that you fulfil the eligibility requirements.
2. Select the product category that you wish to apply for (Core Capabilities, Innovation & Productivity, or Market Access) depending on your business goals. If you are applying for the grant for management consultancy-related costs, you need to engage management consultants that have been accredited by the Singapore Accreditation Council.
3. Prepare your project proposal and relevant supporting documents and submit an application for the grant on the Business Grants Portal (BGP).
4. If you are awarded the grant, your company will receive a Letter of Offer indicating the conditions of support such as the project qualifying period and deliverables, as well as the amount of grant awarded.

Head over to the Enterprise Singapore website for more information on the EDG grant.

5. For IT improvements: Productivity Solutions Grant (PSG)

The Productivity Solutions Grant (PSG) under EnterpriseSG supports Singapore companies who wish to enhance their productivity by automating existing processes and adopting IT solutions and equipment. Under this grant, local SMEs can receive up to 50% of eligible costs (capped at $30,000) to improve their business solutions and obtain support for pre-approved sector-specific and generic solutions.

ComfortDelgro Engineering used the PSG to purchase a new Enterprise Resource Planning system, which allowed the company to enhance their operations by streamlining processes, managing projects more efficiently and lowering administrative costs.

The application process for the PSG grant is as such:

1. Check that you fulfil the eligibility requirements. Among other requirements, the IT solutions and/or equipment must be used in Singapore.
2. Determine the relevant IT solutions for your business needs and select a suitable vendor via GoBusiness Gov Assist.
3. Obtain a direct quotation for your chosen IT solution/ equipment either from a pre-approved vendor or a vendor that you have sourced yourself.
4. Submit an application for the grant on the BGP portal, ensuring that you have the relevant documents and information.

You may refer to the Enterprise Singapore website for more information on the PSG grant.

6. For maritime-related startups: MINT-Startup Grant

Under the purview of the Maritime and Port Authority of Singapore (MPA), the Maritime Innovation and Technology (MINT) Fund aims to develop Singapore’s maritime industry and improve innovation in this sector by leveraging cutting-edge technology. The MINT-Startup Grant works with tech startups to encourage innovation in the maritime industry by offering eligible startups up to $100,000 to carry out POC, POV or pilot projects.

In order to be eligible for the grant, your startup must have completed the PIER71™ Accelerate Programme or other relevant maritime programmes from the Accelerator Partners of MPA. PIER71™ is a programme established by MPA and NUS Enterprise which provides opportunities designed to boost Singapore’s maritime industry.

The PIER71™ Accelerate Programme is a six-week programme in which finalists of the annual Smart Port Challenge (which gathers promising startups from around the world) undergo workshops and masterclasses by maritime industry leaders and experts, gain mentorship opportunities and link up with investors, venture capitalists, entrepreneurs and other resources.

For more information on the MINT-Startup Grant, check out the MPA website. For more information on PIER71™ and its initiatives, head over to the PIER71™ website.

7. For social enterprises: VentureForGood (VG) Grant

The VentureForGood (VG) Grant is provided by raiSE Singapore and supported by the Ministry of Social and Family Development (MSF).

Otherwise known as the Singapore Centre for Social Enterprise, raiSE is a non-profit organisation set up by MSF, National Council of Social Service, Social Enterprise Association and Tote Board to promote support for social enterprises in Singapore. It is open to Social Enterprise members of raiSE who wish to make a human-centred social impact on the community, such as via the employment of disadvantaged individuals. Successful applicants can receive up to $300,000 in funding.

Foreword Coffee, a social enterprise coffee company, managed to utilise the VG Grant to provide more employment opportunities for individuals with disabilities, thus allowing them to strive towards building a more inclusive society.

Here is an overview of the application process for the VG Grant:

1. Apply for the VG Grant by emailing your pitch deck and relevant supporting documents (e.g. management accounts) to vfg@raise.sg.
2. Attend a 1-on-1 meeting with the grant managers, who will review your submission.
3. If you have been shortlisted, work with the grant managers to submit a detailed proposal containing financial projections and social impact milestones.
4. Chosen applicants will make a final presentation to the Grant Committee.

Further details on the VG Grant can be found on the raiSE Singapore website.

8. For tourism-related businesses: Business Improvement Fund (BIF)

Offered by the Singapore Tourism Board (STB), the Business Improvement Fund (BIF) is targeted towards Singapore-registered businesses in the tourism sector.

The BIF aims to encourage such businesses to adopt technology and innovation in order to improve their productivity and competitiveness. The grant provides funding for qualifying third-party project-related costs such as consultancy fees, hardware and software costs and training costs.

This is how to apply for the BIF:

1. Ensure that you fulfil the eligibility requirements using STB’s eligibility checker tool.
2. Pre-application stage: Prepare an executive summary of your project containing information such as the project goals, schedule and costs, and submit it to STB_Incentives@stb.gov.sg.
3. Application stage: If your project is deemed eligible to proceed with the application process, you will need to prepare a project proposal according to the required template and submit your application via the BGP portal.
4. Grants are distributed on a reimbursement basis upon the achievement of agreed milestones and deliverables.

Do refer to the Singapore Tourism Board website for more information on the Business Improvement Fund.

9. For overseas expansion: Market Readiness Assistance (MRA) Grant

The Market Readiness Assistance (MRA) Grant, offered by EnterpriseSG, helps companies expand into markets abroad by funding the following three pillars: overseas market promotion, business development and market setting-up. Local SMEs can have up to 50% of eligible costs covered, capped at $100,000 per new market.

The MRA Grant allowed CargoSavvy, a logistics solutions provider, to expand into Vietnam by engaging a professional consulting firm, InCorp Vietnam. InCorp Vietnam helped CargoSavvy to incorporate a foreign-owned entity (CargoSavvy Vietnam) and assisted with further administrative tasks such as accounting and tax reporting, allowing CargoSavvy to achieve its goal of expanding into the Vietnamese market.

Here’s how to apply for the MRA grant:

1. Identify the overseas market that you wish to target.
2. Identify the overseas market that you wish to target and ensure that you satisfy the eligibility requirements. Among other requirements, your company must be new to the overseas market that you are targeting i.e. the company’s annual sales in the target market must not have exceeded $100,000 in the previous three years.
3. Determine the activity that you are applying for (e.g. marketing/ PR campaigns and overseas trade fairs) and choose a suitable vendor. You may refer here for the list of supportable costs and deliverables for each activity.
4. Prepare the required supporting documents and submit an application on the BGP portal. If your application for the grant is successful, you will receive a Letter of Offer, which you need to accept within the stipulated deadline.
5. Carry out your project according to the agreed deliverables, complete the required audit and submit your claim on BGP. Once your claim has been approved, you will receive your grant.

For more information on the Market Readiness Assistance Grant, refer to the Enterprise Singapore page.

Need Further Support? 

Seek additional support via SkillsFuture Enterprise Credit

It may be possible to obtain further subsidies for some of the grants discussed above via the SkillsFuture Enterprise Credit. Under this scheme, eligible employers can receive a one-time $10,000 SkillsFuture Enterprise Credit (SFEC) to cover up to 90% of expenses on qualifying costs for supported initiatives, beyond the levels of support already provided by existing grants.

Up to $7,000 of the credit can be used for enterprise transformation, which includes grants such as the Productivity Solutions Grant (PSG), Enterprise Development Grant (EDG), Market Readiness Assistance (MRA) Grant and the Business Improvement Fund (BIF).

For more information on the SkillsFuture Enterprise Credit, head over to the SkillsFuture website.

Seek help from a corporate services firm 

Most of the start-up grants discussed above require you to have already incorporated your company before you can start applying for them. If you haven’t already done so, you can consider engaging a corporate services firm to incorporate your company on your behalf. It is not easy to set up a new business and often, there are many legal formalities in the initial stage which require appropriate attention and adherence to.

A corporate services firm provides business support services to companies, including company incorporation. It can assist you with business registration as well as the filing of important documents to comply with the legal requirements of incorporating a company.

Most crucially, a corporate services firm can help you manage your compliance deadlines and requirements. With a dedicated corporate services firm handling such legal requirements, you can better direct your resources towards the actual running of your start-up and realising your goals.

If you are interested in engaging a corporate services firm, you can find out more and get in touch with us.

After you have successfully set up your company and applied for the relevant grants above, you should take note of the regulatory and compliance requirements mandated under Singapore law. Some of these requirements include having a registered office and appointing a company secretary. A corporate services firm can also provide corporate secretary services, and help you manage your requirements related to the grants.

Seek legal advice from a corporate lawyer 

Apart from a corporate services firm, you can also seek help from a corporate lawyer if you would prefer to entrust your company matters to the care of one person you feel is best suited to your needs. A corporate lawyer can help you navigate the many forms and requirements involved with incorporating a company and provide legal support with specific tasks like intellectual property protection and reviewing and drafting contractual agreements.

Here is a list of 7 top-rated corporate lawyers in Singapore to kickstart your search. Alternatively, you can get in touch with experienced corporate lawyers on your own here.