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What are the sources of seed funding available for start-ups? Normally, the first round of funding for start-ups comes from the founders or their family and friends. Depending on which area that you are looking at, there are certain schemes that might be appropriate.
Some of them include:
i) YES! Start-ups - a grant for first time entrepreneurs, who are 26 years and below, to encourage them to be enterprising, innovative and to embark on their start up.
ii) Technology Enteprise Commercialisation Scheme (TECS) - A competitive grant for technology companies to develop the Proof-of Concept and Proof-of Value.
iii) SEEDS Funding - An equity financing programme for innovative start-ups
You may find more information of each of the programme at our website www.spring.gov.sg or other schemes from various government agencies via the EnterpriseOne website at www.business.gov.sg.
Is there any special grants/funding for local startup in patent applications? There is an Intellectual Property Management for SMEs Programme, which jointly admistered by Intellectual Property Office of Singapore (IPOS) and SPRING. It is an initiative to help SMEs manage the entire life cycle of IP, including its creation, ownership, protection and commercial exploitation. (For more info, refer here) However, there is no specific grant/funding for patent applications.
You may also look at a few other funding schemes/programmes which may be relevant as well.
1) Micro Loan Programme It allows you to borrow up to $100,000 (previously pegged @ $50,000 max) at a fixed or variable interest rate. You may use the funds for daily operations or for automating and upgrading your factory and equipment.
2) Local Enterprise Technical Assistance Scheme (LETAS) This scheme allows you to get a grant to engage an external consultant to implement quality management and IT systems. Project examples include ISO certification and upgrading computer systems.
For further clarity and more info, you may contact the respective programme managers or the friendly E1 team @ the EnterpriseOne Hotline (+65 6898 1800) or visit the website www.business.gov.sg.
What are the available assistance for overseas expansion and operations? The various assistance schemes/programmes made available by International Enterprise (IE) Singapore. Click here to access to the resource site.
Alternatively, there is also a portal by IE Singapore, called iadvisory at www.iadvisory.com.sg, where companies can identify and access the know-how of experts or iadvisors from all around the world.
You may contact these iadvisors directly and post them questions about his overseas expansion, at his own convenience. In addition, you will also be able to access relevant IE Singapore programmes and initiatives that would enhance your overseas expansion.
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