SPRING Singapore is the enterprise development agency for developing innovative companies and forging a competitive SME sector. SPRING Singapore coordinates with partners to help enterprises in financing, capabilities and management development, technology and innovation and access to markets. As a nationally accredited body, SPRING also develops and promotes internationally recognized standards and quality assurance to enhance competitiveness and facilitate trade.
It manages Government equity financing schemes for innovative start ups with:
- commercially ready products/services and
- potential to enter International markets.
Initiative for Startups
- SPRING SEEDS Capital helps financially, startups in Singapore involved in developing new or better products, processes and applications. For every S$1 an investor puts into the business, SPRING SEEDS Capital Pte ltd would invest S$2.The maximum investment by SPRING SEEDS Capital would be S$1 million.
- The reason for the financial help is to encourage private sector investments in innovative seed or early stage start-up companies developing innovative products or processes that can be marketed and sold globally. The minimum investment by the private investor must be at least S$75,000.
Criteria for Applicant
- Be a private Limited company incorporated for less than 5 years in Singapore.
- Have paid-up capital of at least S$50,000, but not more than S$1 million.
- Have core business transactions in Singapore.
- Be involved in developing new or better products, processes and applications.
Criteria for Investors
- Corporate or individual investors must not have prior interest in the company at the point of application.
- Corporate investor(s) must be legal entities with a minimum paid up capital of S$500,000.
Individual investor(s) should:
- Possess management experience, business contacts or technical expertise that can add value to the start ups.
- Not be related to the founders of the start up.
- Maintain arms length transactions with the founders.