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December 29, 2014

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5 Important Singapore Incubator Schemes to Look Out For

Business incubators are prodigious sources of help for start-ups because they not only offer funding, but are frequently sources of business guidance and technical knowledge. Some even offer admittance to accounting or legal services and open doors to wide business connections.

Incubators work in inimitable hybrid models of funding, endowments and equity. Depending on the scheme, incubators can match funds raised up by the entrepreneur or give out cash grants. They can also take an equity stake in the start-up for the funds they have provided.

Let us take a quick look at five different options offered by incubators.

 

The Incubator Development Program

The Incubator Development Program offers up to seventy percent grant support to incubators and venture accelerators which have programs to help develop start-ups.

The grant covers the cost of hiring guides, as well as expenses sustained from market services and events. Grant also covers the cost of hiring incubator managers and offers funds for training and shared services plus equipments for start-ups.

Singapore Incubator Programs

Singapore Incubator Programs

Incubator for Disruptive Enterprises and Start-ups (IDEAS) Fund

The IDEAS Fund is an incubator fund for early startups and emphases on identifying and guiding startups with disruptive revolutionlatent. It places about $500,000 to $600,000 on a single investment. It is appropriate for companies in all sectors.

 

It is coped by Innosight Ventures, a Singapore-based venture capital firm, and financially reinforced by the National Research Foundation.

Jam Micro Funding Scheme

The i.Jam Micro Funding Scheme offers up to $250,000 in seed funding, with two tiers of funding. Tier 1 – Funding comprises of grants of up to $50,000 for selected startups through selected incubators. The grants will be used to offset up to 100% of start-up costs (subject to a cap of $50,000 for each start-up) over a determined period of two years.

Tier 2 – funding is for startups which have positively met and surpassed performance indicators for their projects under the i.JAM Reload Tier 1 Funding, or i.JAM phase 1.

They will then be suitable to apply for funding of up to S$100,000, if they are eligible. This is managed by the Collaborating Digital Media Programme Office.

NRF Technology Incubation Scheme (TIS)

 

Under the TIS scheme, the National Research Foundation (NRF) Singapore can co-invest up to 85% of investment, covered at S$500,000 per company, into a Singapore-based start-up that is suggested by a Technology Incubator (TI).

The TI will then co-invest the remaining 15% of investment into the start-up. The TI will also offer active mentorship and guidance to the start-up. As an incentive, the TI can buy over NRF’s stake in the start-up within three years by refunding the capital plus interest.

 

Fast-Track Environmental and Water Technologies Incubator Scheme (Fast-Tech)

 

Singapore-based companies which are less than Three years old can apply for this scheme, which offershelp through a repayable grant which will be up to S$500,000 per company or up to 85%, either is lower, over two years

If the company accepts the grant, 1/3 of the permitted grant quantum will be advanced to the company. The remaining grant is paid to the company on a compensation basis. This funding is managed by the Environment and Water Industry Program Office.

 


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Snehil Khanor wrote 131 articles on this blog.

Snehil Khanor - Entrepreneurial Spirit, Techie, Gadget Freak, Blogger, Dreamer, Internet Visionary, Foodie, Delhiite, Wannabe Artist ,To-be Engineer with a heart of a Poet. 😉

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