A three-month venture building programme has also been introduced to help start-ups get their innovative ideas off the ground.. Read more at straitstimes.com.
SINGAPORE - First-time entrepreneurs will be able to access a higher start-up capital grant of $50,000, up from $30,000, to help them launch their business ideas, part of enhanced measures to boost local start-ups, creating new companies and jobs amid the ongoing coronavirus pandemic.
The Startup SG Founder programme, which is overseen by government agency Enterprise Singapore , was launched in 2017 and aims to provide mentorship and start-up capital grants to first-time entrepreneurs with innovative ideas. Said Mr Chan:"We are determined to grow a new generation of companies from Singapore to serve not just the Singapore market, but also the regional and global markets. Now, in every crisis, there are always opportunities for us to grow a new generation of companies. And this crisis is no different."
Up to $150 million has already been set aside for the enhancements to the Startup SG Founder Programme, which was announced by Deputy Prime Minister Heng Swee Keat in his ministerial statement on Monday. Five autonomous universities - Nanyang Technological University, National University of Singapore, Singapore Management University, Singapore University of Technology and Design and Singapore University of Social Sciences - will provide the venture building programme, and will launch their call for applications by the end of August.
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