On 17 September 2021, the Singapore government unveiled a package of initiatives to attract high-growth, high-tech local and regional companies to list on the Singapore Exchange (SGX). This is not the first time the Singapore government has rolled out incentives to attract high-growth, high-tech entrepreneurs to set up and list their businesses in Singapore. In 2017, the Ministry of Trade and Industry of Singapore launched the ‘Startup SG’ initiative to bring together an array of schemes and establish a network targeted at nurturing start-ups of any size or at any stage of growth in its efforts to cultivate a thriving start-up ecosystem in Singapore. Then, in 2019, the Monetary Authority of Singapore (MAS) introduced the Grant for Equity Market Singapore scheme to, among others, support listing on SGX.
In this article, we highlight some of the grants and other funding available to entrepreneurs and start-ups, from setting up their business in Singapore to listing on SGX.
In the beginning
(a) Startup SG Equity
Under this scheme, SEEDS Capital will co-invest along with third party investors, in general tech and deep tech companies which have been incorporated in Singapore for less than five years and have paid-up capital of at least SGD 50,000.
General tech companies are companies which provide an online solution for an offline problem using existing technologies, while deep tech companies are companies which tackle more significant issues and bring advanced solutions to complex challenges affecting humanity.
To receive funding, companies must prove that their products/services and applications offer substantial innovation and create new intellectual content and that they have high-growth potential with clear scalability for the international market. The investment parameters are as follows: