ESG raises Startup SG Founder grant to S$50,000, sets up 3-month venture building programme

The Business Times

ENTERPRISE Singapore (ESG) will raise the grant support of the Startup SG Founder programme to S$50,000 from September onwards, in order to help extend the runway for startups to develop their business ideas in a challenging business climate, Minister for Trade and Industry Chan Chun Sing said on Thursday.

This follows Deputy Prime Minister and Finance Minister Heng Swee Keat’s announcement on Monday, where he said the government will pump up to S$150 million into the programme to continue spurring innovation and entrepreneurship during the Covid-19 pandemic.

Aspiring entrepreneurs may apply through the universities’ call applications on their websites – which will be up by end-August – following which appointed accredited mentor partners (AMPs) will filter applicants based on the uniqueness of their business concept, feasibility of business model, strength of management team and potential market value.

AMPs under the programme include deep-tech talent investor Entrepreneur First, venture capital firm Quest Ventures and the SMU Institute of Innovation & Entrepreneurship (IIE).

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