Provides youths with grants of up to $50 000 to start their innovative business
ACE Startups was launched with the objective of providing fund support for entrepreneurial Singaporeans who want to take their first step in starting up.
How does the scheme works?
Financial Assistance
ACE will match $7 to every $3 raised by the entrepreneur for up to $50,000.
For selected ventures, ACE will match $3 to every $7 raised by the entrepreneur for an additional $50,000. For these ventures, the total grant is capped at $100,000.
Eligibility
At the time of application, applicant(s) must be:
| The Applicant |
The Startup |
| SP Student or Alumnus |
Business must NOT be registered yet. |
| Singaporean or PR |
|
| First-time Entrepreneur |
Eligible applicant(s) must hold at least 51% equity |
| Key driver in the company |
Business have not received any funding from other government organisation |
Evaluation Criteria
The applicants must be able to address all the criteria listed below during their evaluation.
- Differentiation of the business idea
- How different/novel the idea is against what is already available in the market?
- Feasibility of the business model
- Is the business model viable and potentially sustainable?
- Potential Market Opportunity
- Will the market demand and buy such an item/service?
-
Management Team
- Are the founders committed to the business and are able to demonstrate passion and entrepreneurial spirit to make their idea work? Do they have the technical and business skills to execute the idea?
Submission Procedure
Applicants may submit their business proposal at any time of the year. However, proposals will be evaluated on a quarterly basis.The documents required for application of ACE Startups are:
When all required documents are ready, please email your documents to the officers-in-charge below. Once we've received your application, we will arrange for a meeting and evaluation. The evaluation will be held every last Thursday of the month and all applicants are strongly encouraged to submit their application two weeks before the evaluation.
Department of Industry Services
Enterprise Centre
InnoVillage
Ms Annie Sung
Tel: 6870 4732
Email: AnnieSung@sp.edu.sg
Please contact us for more information on ACE Startups or you may visit the FAQ page.
Back to top
