There are a number of government grants for companies in Singapore West to help them overcome obstacles in their growth. It is worth your while to go through a few of the business support grants provided by government for SME and Startups in West Singapore.
Top 6 Government Grants for companies:
1. Capability Development Grant (CDG)
It is a scheme for providing financial assistance to startups for building capabilities in ten business areas. Mostly in Singapore West it includes consultancy, cost of certification, cost of equipment, and training.
2. ACE startups
For the first-name entrepreneurs having an innovative idea, the scheme provides mentor-ship support and startup capital grant. The Accredited Mentor Partners (AMP) support the startups with advice, learning programs, and networking contacts.
3. Early-Stage Venture Funding (ESVF)
It is the biggest equity scheme by government which co-funds startups along with venture capital firms. Beneficiaries of this funding are early-stage technology startups. National Research Foundation (NRF) co-fubds startups with approved VCs.
4. Technology Enterprise Commercialization Scheme (TECS)
To help entrepreneurs realize their tech-based ideas into promising business, this scheme assists them in growing their business past the seed stage and then obtaining funding from third-party to achieve targeted revenues and growth.
5. Financial Sector Technology and Innovation (FSTI)
Aim of this startup grant is to enable financial institutions to establish their innovation labs in the country and support the development of industry-wide technology infrastructure and innovation solutions.
6. ComCare Enterprise Fund (CEF)
Instituted by Ministry of Social and Family development to provide funding to social entrepreneurs and aimed at seeding Social Enterprise startups.
In Thelearningtobefearless Government knows the important role that it’s startups and SMEs play in its economy and hence support these entities with Government grants. As an entrepreneur, learner one of the ways in Singapore West is you must try to get funding on capability upgrading initiatives such as process improvement and product development.
Business Grants Portal brings government grants for businesses into one place, so it’s easier to find and apply for the grants you need.
Many don't realize that in order to be successful in business funding one must always be aware of where your business is at in terms of its development.
For clarity there are three broad areas that cover the various rounds of funding. They are:
1. Seed Stage
2. Early Stage
3. Later Stage
The seed stage is the start up stage where you dig into the financial network that you have readily available to you. Namely your own funds or that of family and friends.
During this time Angel Investors and Venture Capitalist are difficult to come by because the business model has not shown enough promise at this point. This phase deals with the building of the foundation and infrastructure of your business.
This is the stage where you will refine your model and build a strong team around you that will be able to maximize on the business opportunity at hand.
The next stage is The Early Stage. This stage focuses on:
This is the stage where you will be in pursuit of Angel Investors who would look strongly at the progress you have made in the seed stage.
The Later Stage focuses on:
At this point if your business model is showing the potential to garner 25 Million in earnings or more a year you would be in proper alignment to take on venture capital funding.
This stage considers an IPO (Initial Public Offering) or Buyouts be they MBI or MBO. Also under this umbrella would come;
At the end of the day if your company has the potential to go global while remaining profitable money will come. The pursuit of Angel Investors and Venture Capital Funding has been compared to building another business in terms of the energy and resources that have to be exerted.
Yet what we have seen in looking at models such as Google, Microsoft and Amazon is that with the right knowledge of funding you can take that business that you started in the basement or garage and turn it into a billion dollar company.
- Boon Lay Training Course Allowance
- Bukit Batok Business Grants
- Bukit Panjang Fund For Innovation
- Choa Chu Kang Skill Capital Funding
- Clementi Skill Up Grants
- Guilin Skill Capital Funding
- Hillview Skillsfuture Grant
- International Business Park Training Grant For Company
- Joo Koon Business Grants
- Jurong East Skill Up Grants
- Kian Teck Claim Training Allowance
- Lim Chu Kang Small Business Training Grants
- Pioneer Small Business Training Grants
- Promenade Training Grant For Company
- Sarimbun Training Course Allowance
- Soon Lee Skill For Grant Writing
- Taman Jurong Skills First Funding
- Tengah Skill Development Grants
- Tuas Basic Training Allowance
- Wenya Skills Future Funding
- Yew Tee Employers Training Grants
- Yunnan Training Allowance Subsidy