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Overview of Singapore’s Vibrant Start-Up Ecosystem
Singapore has become a leading hub for innovation and technology startups, supported by strong IP laws, strategic location, and investor-friendly policies. Backed by Enterprise Singapore, local startups benefit from government grants, incubator programmes, and accredited mentor partners that support market expansion, product development, and improved productivity. This vibrant ecosystem offers essential funding and guidance, especially for first-time entrepreneurs with scalable business ideas.
Why Start-Ups Struggle to Scale Without Support
Starting a business in Singapore is easy, but growing it takes more than drive and passion. Many early-stage startups face funding gaps, lack mentorship, and struggle to access global markets. Without financial support or a proof-of-concept, attracting investors becomes difficult. Government grants help bridge this gap by offering funding, mentorship, and access to incubators and enterprise programmes. These tools help improve productivity, develop products, and increase eligibility for venture capital.
For many startups in Singapore, these resources provide the difference between surviving and thriving.
List of Key Start-Up Grants in Singapore
Startup SG Founder Grant
The Startup SG Founder Grant supports first-time entrepreneurs who have innovative business ideas. This grant provides eligible startups with up to S$50,000 in funding. To qualify, founders must work full-time on their venture and be supported by an Accredited Mentor Partner (AMP).
The AMP plays a crucial role in assessing the startup’s viability and offering valuable mentorship. This initiative supports Singapore-based entrepreneurs with scalable business models and strong market potential. The grant helps reduce early financial pressure, giving founders more time to focus on product development and validation.
To be eligible, companies must:
- Be registered within the past six months
- Be a private limited entity based in Singapore
- Have at least 30% local shareholding
This grant supports entrepreneurs by offering not just capital but also structured guidance in their first phase of growth.
Startup SG Tech
Designed for technology startups with intellectual property and strong proof-of-concept, Startup SG Tech offers early-stage funding. The grant provides up to S$250,000 for POC and S$500,000 for prototype development. It supports deep tech startups focused on innovation-driven enterprises in areas like AI, medtech, and sustainable tech.
To qualify, businesses must demonstrate technical innovation and market potential. This competitive grant is ideal for companies building scalable, IP-rich solutions and targeting overseas markets.
It helps technology startups:
- Accelerate product development timelines
- Validate technical feasibility
- Attract further equity or venture capital
Startups that successfully complete their project under Startup SG Tech often move on to raise private investments or receive further support through the Enterprise Financing Scheme.
Productivity Solutions Grant (PSG)
The Productivity Solutions Grant helps SMEs improve productivity and automate business processes through pre-approved technology solutions. This grant supports businesses in areas such as accounting, human resources, cybersecurity, and retail management.
PSG provides up to 50% funding support, helping small businesses adopt digital tools to streamline operations.
The grant is suitable for businesses that:
- Are registered and operating in Singapore
- Have at least 30% local shareholding
- Use the solution in Singapore
PSG is not only cost-effective but also straightforward to apply for. This makes it an attractive choice for SMEs, enhancing their internal systems without high upfront costs. It also complements other programmes like the SkillsFuture Enterprise Credit, which offsets training and solution adoption costs.
VentureForGood Grant (by raiSE)
For social enterprises with a strong impact mission, the VentureForGood Grant by raiSE supports new business models that address social challenges. This grant offers up to S$300,000 for early-stage social enterprises aiming to improve lives while building sustainable ventures.
To be eligible, your business must:
- Address a specific social issue
- Have a viable business model
- Deliver measurable social outcomes
This grant provides financial support and connects you with a community of social entrepreneurs. It encourages businesses in Singapore to pursue profitability alongside purpose. It’s ideal for founders passionate about creating positive change within local communities or underserved markets.
Business Improvement Fund (BIF)
The Business Improvement Fund, managed by the Singapore Tourism Board, supports tourism-related enterprises seeking to innovate and improve competitiveness. BIF provides support of up to 70% for qualifying costs related to business transformation and technology adoption.
It is ideal for:
- Hotels, attractions, and travel-related businesses
- Tourism startups working on digital solutions
- Companies aiming to enhance guest experiences or improve operations
This grant helps Singapore companies redesign their processes and create new products or services tailored to tourists’ evolving needs. By embracing smart technologies and sustainable practices, businesses can enhance visitor satisfaction and drive long-term growth.
Market Readiness Assistance (MRA) Grant
The MRA Grant helps Singapore startups and SMEs expand into overseas markets. It offers up to 70% funding, capped at S$100,000 per company per new market. This includes support for:
- Overseas market set-up
- Marketing and promotion
- Market entry and business matching activities
Eligible companies must be:
- Based in Singapore
- Registered and operational for at least one year
- Focused on market expansion and investment development activities
The grant provides funding support for companies with global ambitions. It allows them to test market potential before committing large resources. With this grant, your expansion into a new international market becomes more strategic and less risky.
How to Align the Appropriate Grant with Your Business Goal
Securing a grant can be a game-changer for your business, but not all grants are created equal. To make the most out of any funding opportunity, it’s essential to align the right grant with your specific business objectives. Here’s how you can align your business goal with the appropriate grants:
1. Clearly Define Your Business Goal
Clearly define what you want your business to achieve before applying for any grant. Ask yourself if your goal is short-term or long-term. Think about whether it relates to innovation, expansion, digitalisation, sustainability, or workforce development. A clear business goal helps you identify which grants match your needs. It also saves time by filtering out options that do not align with your plans. Staying focused on your objective increases your chances of finding the right funding support.
2. Identify the Type of Grant that Matches Your Objective
Different grants serve different purposes. Here’s how you can match your goal with the right grant type:
- Innovation or R&D Goals
Look for grants that support prototype development, technical feasibility studies, or early-stage research. Examples include innovation vouchers or R&D matching funds. - Business Expansion Goals
Consider market access grants or business growth schemes that support internationalisation, trade shows, and export readiness. - Hiring or Training Goals
Workforce development grants or talent support programmes can help subsidise salaries or fund employee training initiatives. - Digitalisation Goals
Explore government funding for digital transformation, such as support for adopting e-commerce, CRM systems, or automation tools. - Sustainability Goals
Look into green funding initiatives aimed at reducing the carbon footprint, investing in energy-efficient systems, or creating sustainable products.
3. Evaluate Eligibility and Fit
Once you find a grant that interests you, check if your business meets the eligibility criteria. This may include your SME status, revenue level, or the industry you operate in. Next, look at the funding cap and see if it’s enough to support your planned activities. Make sure the grant covers what you need for your project or growth stage. Lastly, review the reporting and compliance requirements. Ensure your team can manage the paperwork and meet the deadlines without added stress.
4. Tailor Your Application to Show Alignment
To improve your chances of getting a grant, show how your business goals match the grant’s purpose. Explain clearly what you aim to achieve and how you will measure success. Share the impact your project could have, such as creating jobs, growing revenue, or driving innovation.
5. Use Government Portals and Professional Advice
Explore grant databases such as the Business Grants Portal (Singapore), the Enterprise Development Grant (EDG), or Startup SG. Consider consulting a grant advisor or business consultant to maximise your strategy and submission quality.
Take The First Step in Scaling Your Start-Up
Starting a business is bold, but scaling it smartly requires support, funding, and the right ecosystem. Singapore offers a variety of funding options, including equity schemes and grants designed to help businesses thrive. Whether you’re exploring overseas markets or developing deep tech, there’s a grant designed to support your ambition.
Enterprise Singapore and related agencies provide more than just funds; they offer guidance, partnership opportunities, and a gateway to international success. Use this comprehensive list as your roadmap to grow your startup with confidence and clarity.
With the right grant, your business idea can become a thriving and sustainable enterprise right here in Singapore.
