Business Angels Scheme (BAS)brings together Business Angels to invest in the company with a matching dollar from SPRING SEEDS Capital, up to a maximum of S1.5 million. The business enterprises would need to obtain a minimum investment of S75, 000 from one of the 3 pre-approved business angel groups. Both SPRING SEEDS Capital and the business angel group will take equity stakes in the company in proportion to their investments.
The scheme raises funds for the start up. For every S$1 that Business Angel Funds invests, Spring Seeds Capital would invest S$2. SPRING SEEDS Capital will make a maximum investment of S$1.5 million.
Who are Eligible For BAS
Singapore Based Companies:
- Incorporated for 0-5 years.
- Having minimum paid up capital of S$50,000
- Developing innovative products or processes for the International market.
Objective of BAS
- To promote proactive business angel investments in innovative ideas or upcoming startup companies.
- Pre-approved Business Angel groups will have their investments in start-ups matched by SPRING SEEDS Capital.
Amount of Investment
- The minimum investment per start up by the pre approved Business Angel group must be at least S$75,000.
- SPRING SEEDS Capital would make an investment of two dollar for every dollar invested up to a maximum of S$1.5 million.
Things to Note
- Start-ups who have already received funding under Start-Up Enterprise Development Scheme (SEEDS) can still apply under BAS for follow-on investment up to a maximum of S$1.5 million.
- BAS is similar to SEEDS in the objectives. The two equity funding schemes work together to help fund start ups.
For More Info Contact
SPRING SEEDS Capital Ptd Ltd
c/oSPRING Singapore
SPRING Singapore is the enterprise development agency for growing innovative companies and fostering a competitive SME sector. SPRING Singapore works with partners to help enterprises in financing, capabilities and management development, technology and innovation and access to markets. As the national standards and accreditation body, SPRING also develops and promotes Internationally recognized standards.
