Since 2014, Singapore envisions to be the South East Asia’s version of Silicon Valley and several attempts have been made to realise this ambitious dream. Such as constructing Block 71, to be the house of hundred startups in the country, and developing policies that support startup growth.
Some big names in the industry such as Grab, Shopee, and Carousell once started out as small startups. Founded and welded in Singapore, these companies stepped up to the front stage of international business networks. Singapore does offer a beneficial and friendly ecosystem for startups to flourish.
As one of the leading economies in Asia, Singapore provides easy access to key growth markets in the continent as well. This creates convivial business regulations to accelerate the growth of micro industry base like startups.
Singapore government encourages more people to take the entrepreneurial path, by making it easy for anyone to build their own startup, and helping them out in terms of financial aid and tax benefits. Besides government grants and schemes, there are many other types of investors, which could be great options to explore, especially when you need fundraising help to grow your startup.
As stated earlier, Singapore government continues to encourage the growth and expansion of startups in the country, by providing cash grants and equity financing schemes. Each program has its own terms and conditions which can be tailored according to your type of business and purposes, along with a particular criteria and disbursement method as well. Here are some of them:
1. ACE Startup Grants
2. SPRING Startup Enterprise Development Scheme
3. ESVF (Early Stage Venture Fund)
4. i.JAM (IDM Jump-start and Mentor)
5. PIC (Productivity and Innovation Credit)
6. Enhanced BIF (Business Improvement Fund)
7. Fast-Track Environmental and Water Technologies Incubator Scheme
8. TIS (Technology Incubation System)
9. SSA (Sector Specific Accelerator Program)
10. TECS (Technology Enterprise Commercialisation Scheme)
11. CEF (ComCare Enterprise Fund)
Angel Investment Networks
Angel investor is an individual investor, typically a successful businessman, who invests his own personal resources into the potentially lucrative business. Usually they dole out their money to the seed-stage startups that need quick funding. Working in a group or individually, the following are few examples of them in Singapore:
1. Business Angel Network South East Asia (BANSEA)
2. Business Angel Scheme (BAS)
3. Singapore Angel Network (SGAN)
Private Equity Finance
Private equity investment are funds obtained from investors that can be exchanged with the ownership of the company in the future. Typically, this type of financing is ideal for high-growth stage prospective startups, which require additional funding to expand. If you think that your startup needs big cash, here are some of them:
Phillip Private Equity
Adam Street Partners
The Carlyl Group
3V Source One Capital
Navis Capital Partners
L Capital Asia
Venture Capital Funds
Venture capital is one of the biggest financing sources for potential startups. If you need large capital but do not have enough access to the capital markets, venture capital could be the right place to get financial support.
Considering the large amount of money and risks to be borne by the investor, they usually get directional privileges that affect the company’s decision-making process.
1. Fenox Venture Capital
2. Golden Gate Ventures
3. IDG Ventures South East Asia
4. KK Fund
5. Fortune Venture Investment Group
6. Upstream Ventures
7. Singtel Innov8
8. IMJ Investments
9. Infocomm Investments
10. Digital Media Partners
11. Sequoia Group
Singapore is in the process of transforming into a startup hub in Asia. Supported by a friendly business environment and straightforward bureaucracy, the government wants to encourage startups to innovate and grow.
With a variety of financial aids such as incentives, grants, and funding from within or outside the country, Singapore continues to become home for huge number of newly-emerging startups awaiting to experience glory in the bright future.