Read Also: Guide To Starting A Business In Singapore<\/a><\/em><\/strong><\/em><\/strong><\/p>\n\n\n\n Recognising that first-time entrepreneurs need more than capital support, the Startup SG Founders Grant, first introduced in 2017, ties grant capital with mentorship to support entrepreneurs in their maiden business venture<\/p>\n\n\n\n In August 2020, as part of the government\u2019s efforts to support and revitalise Singapore\u2019s economy through the recession, the Startup SG Founders was enhanced to include venture-building and the start-up capital grant enhanced from $30,000 to $50,000. <\/p>\n\n\n\n Currently, there are two tracks under the Startup SG Founders Grant: the \u201cStart\u201d track and the \u201cTrain\u201d track.<\/p>\n\n\n\n The \u201cStart\u201d track targets entrepreneurs who are\u00a0ready to start and have a viable business plan<\/strong> with mentorship and startup capital<\/strong>. It is an enhancement of the previous Startup SG Founders Grant, raising the grant amount to $50,000<\/strong> over a 12-month period<\/strong>.<\/p>\n\n\n\n What Is The Eligibility?<\/p>\n\n\n\n To apply for the Startup SG Founders Grant \u201cStart\u201d Track, you need to fulfil the following criteria:<\/p>\n\n\n\n How To Apply?<\/p>\n\n\n\n You must apply through an Accredited Mentor Partners (AMP) who will then make the recommendation on your behalf to Enterprise Singapore (ESG), who will review and issue a Letter of Offer to successful startup applicants.<\/p>\n\n\n\n Source:\u00a0<\/em>Startup SG<\/em><\/a><\/p>\n\n\n\n Accredited Mentor Partners (AMPs) include: <\/p>\n\n\n\n Each AMP has their different strengths and can support you in different ways. They may also choose to take up equity in your startup. You can see the full list of AMPs\u00a0here<\/a>.\u00a0<\/p>\n\n\n\n You should choose your AMP wisely as they will be the ones mentoring you through your business development, and recommending your business to ESG for the Startup SG Founders Grant. <\/p>\n\n\n\n The new \u201cTrain\u201d track is targeted at aspiring entrepreneurs who have the desire to start companies but lack entrepreneurial skills or viable business plans\/ ideas to do so. Instead, they will be put through a 3-month venture building programme<\/strong> with the Accredited Mentor Partners Venture Builders (\u2018AMP-VB\u2019). <\/p>\n\n\n\n During the 3-month venture building programme, entrepreneurs will receive a stipend of $1,500 per month <\/strong>and use the opportunity to find co-founders and be guided through the process of business development.<\/p>\n\n\n\n What Is The Eligibility?<\/p>\n\n\n\n You need to fulfil the following criteria:<\/p>\n\n\n\n While the AMP-VBs are currently all universities, you do not need to be a university student or an alumnus to apply. Mid-career Professionals, Managers, Executives and Technicians (PMETs) are also welcome to apply.<\/p>\n\n\n\n Read Also: 7 Reasons Why It\u2019s A Great Time To Start A Business While In University<\/a><\/em><\/strong><\/p>\n\n\n\n How To Apply?<\/p>\n\n\n\n You may apply to the various AMP-VBs directly.<\/p>\n\n\n\n With the new \u201cTrain\u201d track, the government is really pushing for entrepreneurs to take the next step to make their ideas into reality. The monthly stipend acts as a support net while you learn to identify business ideas, develop them into products, conduct market validation and find capital. After which, you can apply for the \u201cStart\u201d track with the co-founders you find during the programme. <\/p>\n\n\n\n If you already raring to go with your business idea, the \u201cStart\u201d track supports you with a larger variety of AMPs who can mentor you throughout the process. The enhancement of the grant capital from $30,000 to $50,000 is also a boon to new entrepreneurs. <\/p>\n\n\n\n However, the only downside is that it may take you a while to find suitable co-founders, especially first-time entrepreneurs. However, do not be deterred even if your co-founder has founded a company in the past, as ESG has stated that they would consider applications of second-time co-founders on a case-by-case basis.\u00a0<\/p>\n\n\n\nWhat Is The Startup SG Founders Grant?<\/strong><\/h3>\n\n\n\n
Startup SG Founders Grant \u201cStart\u201d Track (effective from 25 September 2020)<\/strong><\/h3>\n\n\n\n
![\"\"](\"https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2023\/03\/Startup-Founder-Grant-Application.png\")
<\/figure>\n\n\n\nStartup SG Founders Grant \u201cTrain\u201d Track (new)<\/strong><\/h3>\n\n\n\n
AMP-VB<\/strong><\/td> Duration<\/strong><\/td><\/tr> National University of Singapore (NUS), NUS Enterprise<\/a><\/td> 3 months programme<\/td><\/tr> Nanyang Technological University (NTU), NTUitive (NTU)<\/a><\/td> 3 months programme<\/td><\/tr> Singapore Management University (SMU), Institute of Innovation and Entrepreneurship)<\/a><\/td> 3 months programme<\/td><\/tr> Singapore University of Social Sciences (SUSS)<\/a><\/td> 6 months programme (inclusive of 3 months venture-building and incubation support for rest of 3 months)<\/td><\/tr> Singapore University of Technology and Design (SUTD)<\/a><\/td> 3 months programme<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n Should You Apply For The Startup SG Founders Grant?<\/strong><\/h3>\n\n\n\n