Singapore Startup Grants - Full Guide on Government and Startup SG Grant Funding (2025)

The startup scene in Singapore is thriving - and one of the reasons is the wide variety of funding sources available, as well as the non-financial support offered to new businesses and entrepreneurs here. In this guide we’ll introduce the most popular options for Singapore startups in 2025, including grants to get your business off the ground, and options for mentorship and other essential non-financial help.

Plus read on to learn about Wise Business - the non-bank business account provider that supports Singapore startups just like yours, especially if you have plans to engage overseas vendors, suppliers, and or enter overseas markets soon.

Table of contents

Important grants for Singapore startups Budget 2025 updates pertinent to startups in Singapore Startup SG Founder Grant Startup SG Tech Startup SG Equity Programme Productivity Solutions Grant (PSG) Business Improvement Fund (BIF) Market Readiness Assistance (MRA) Grant Innovation, R&D and Capability Development Incentives (EDB) Advanced Digital Solutions (ADS) (IMDA) Other sources of support for Singapore startups Tax support Equity funding Training and hiring Startup incubators in Singapore

Overview of important grants for Singapore startups

We’ve picked out the key grants here which are suitable for early-stage startups and compiled them into a table for easy comparison - there’s more detail coming up later on each.

Grant name	Grant description	Funding amount	Who is eligible
Startup SG Founder Grant¹	First time entrepreneurs with a viable business idea	Mentorship and grant of 20,000 SGD to 50,000 SGD, subject to capital matching	Singaporean or PR First applicant can not be employed elsewhere First and second applicants must own 30% or more of the business being launched Both need to show they’ve had training in entrepreneurship.
Startup SG Tech²	Grant for the commercialisation of innovative technologies	Maximum grant levels of 400,000 SGD to 800,000 SGD, subject to capital matching which depends on the project type	Turnover < 100 million SGD, or 200 or fewer employees At least 30% local equity held by Singaporeans or PRs Commercially viable Proof-of-Concept (POC) and Proof-of-Value (POV) projects Other criteria apply based on project type
Startup SG Equity Programme³	Government backed co-investment with venture capital firms, for technology startups with intellectual property	Up to 2 million SGD or 12 million SGD depending on business type and co-investment partners	Innovative and internationally scalable business based in Singapore with qualified third party investment in place
Productivity Solutions Grant (PSG)⁴	For local businesses looking for IT solutions and equipment to improve productivity	Up to 50% of eligible costs to a maximum of 30,000 SGD	Turnover < 100 million SGD, or 200 or fewer employees At least 30% local equity held by Singaporeans or PRs Business entity is registered and operating in Singapore
Business Improvement Fund (BIF)⁵	Tourism startups investing in technology, model and process enhancements, and sustainability initiatives	Grant level depends on project and business type	Turnover < 100 million SGD, or 200 or fewer employees At least 30% local equity held by Singaporeans or PRs
Market Readiness Assistance (MRA) Grant⁶	Startups which plan on entering a new overseas market and which need help with business development, promotion and set-up costs	Up to 50% of eligible costs with a maximum of 100,000 SGD per company per new market	Turnover < 100 million SGD, or 200 or fewer employees At least 30% local equity held by Singaporeans or PRs Business entity is registered and operating in Singapore, and expanding to a new market
Innovation, R&D and Capability Development Incentives (EDB)⁷	The EDB has a range of support to startups and key enterprises across different sectors	Various different programmes in place based in business type and need	Check with EBD for the eligibility rules for the scheme you’re interested in
Advanced Digital Solutions (ADS)⁸ (IMDA)	Support for early adopter startup businesses which need funding to digitise	Funding is administered via the PSG scheme	Turnover < 100 million SGD, or 200 or fewer employees At least 30% local equity held by Singaporeans or PRs Business entity is registered and operating in Singapore

*Details correct at time of research - 19th February 2025

Budget 2025 updates pertinent to Startups in Singapore

If you’ve newly launched your Singapore startup, you’ll be pleased to know that the 2025 budget, announced on 18th February 2025, has plenty of business friendly policies.

For example, the Corporate Income Tax (“CIT”) Rebate and Cash Grant, which gives tax rebates to local companies employing people here will continue through the YA 2025. There have also been enhancements to the Enterprise Financing Scheme Trade Loan, which can make it possible to get more funds for your new business if you qualify.

Learn all about how the Budget 2025 impacts startups and entrepreneurs in the government’s handy budget navigator document⁹, and in the press. For now, let’s dive into the main early stage startup grants we’ve picked out to explore.

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Startup SG Founder Grant

• Startup SG is one of the key organisations which offers startup grants and non-financial support.
• The Startup SG Founder Grant is one of their flagship offerings and offers mentorship and financial support of 20,000 SGD to 50,000 SGD to first-time entrepreneurs launching businesses.
• Successful applicants are also matched with an appropriate mentor.
• To apply you must be Singaporean or PR and you should have had training in entrepreneurship.

A few other criteria apply - but one important point to note is that you’re required to have access to capital matching. That means that if you’re granted 20,000 SGD through the Startup SG Founder Grant, you must also find 20,000 SGD in capital to go into your business yourself.

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Startup SG Tech

• This grant could be an excellent match for startups in technology with grants available at both the Proof-of-Concept (POC) and Proof-of-Value (POV) stages.
• If you’re very new and only have a solution at the conceptualisation stage you could still get a grant of up to 400,000 SGD
• Must be able to prove commitment to the commercialisation of the idea and existing paid-up capital equivalent to at least 10% of the grant amount.

💰 Companies which are a little further along on the journey, at Proof-of-Value (POV) stage could get a grant of up to 800,000 SGD, subject to capital matching which depends on the project type.

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Startup SG Equity Programme

• Offers government backed co-investment with venture capital firms, for technology startups with intellectual property.
• Aimed at innovative and internationally scalable businesses based in Singapore with qualified third party investment in place, split into options for general tech and deep tech companies.
• The equity afforded can be up to 2 million SGD or 12 million SGD depending on business type and co-investment partners.

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Productivity Solutions Grant (PSG)

• Targets companies keen on adopting IT solutions and equipment to improve business processes.
• Could be reimbursed up to 50% of eligible costs incurred with a pre-approved list of vendors, to a maximum of 30,000 SGD.

As a startup you’ll want to be as productive as possible - whether that’s in customer management, data analytics, financial management, inventory tracking or other business activities. Use this grant to up your productivity game, so you can focus on growing your business as quickly as possible.

Improvements in business productivity can be found in many places. For example, Slasify, a global HR management solution - and Wise Business customer - used Wise Business to streamline their international payment processes and become more efficient than ever.

Here’s what Slasify CEO Carlos Wang says:

“We can definitely say that we've cut the time spent consolidating multi-currency transfers in half. Before, it used to take us a lot longer to manage these transfers manually. Now, with Wise streamlining the process, we've freed up a significant chunk of time each month. This means our team can focus on more important tasks instead of getting bogged down in administrative work.With Wise's efficient cross-border payment system integrated into our platform, clients now have access to global multi-currency payroll services, all processed within a 24-48 hour timeframe. This means clients can effortlessly receive payments in their preferred currency, hassle-free.”

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Business Improvement Fund (BIF)

• Could be a good fit for startups offering innovative products and services to the tourism niche.
• Focuses on helping local businesses pay for training, travel, hardware, consultancy and materials which are needed to improve productivity or sustainability.
• Costs can be covered to a varying amount depending on the project and business type, and the level of returns you may reasonably expect.

Market Readiness Assistance (MRA) Grant

The Market Readiness Assistance (MRA) Grant offers support for business development, promotion and setup costs for businesses which are expanding into a new overseas market.

🌍 As a startup you’ll need to take some time to find your place in the market - but as Singapore is relatively small, some startup businesses will be working on a business plan set on overseas expansion from a very early stage. This grant can be a great fit - reimbursing up to 50% of eligible costs to 100,000 SGD per company per new market.

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Innovation, R&D and Capability Development Incentives (EDB)

The Singapore Economic Development Board (EDB) has a broad range of incentives in place which can include things like tax exemptions and concessionary rates for businesses which are investing in Singapore. Options include:

• The Pioneer Certificate Incentive (PC) and the Development and Expansion Incentive (DEI) which could be of interest to companies growing in Singapore
• IP Development Incentive (IDI) if you expect to commercialise intellectual property owned by your business

As well as tax incentives there are also EDB backed training support packages and visas for tech entrepreneurs which can help businesses recruit the people they need to grow.

📝 The EDB incentives are typically aimed at startups which are involved in research and development, technology, intellectual property and other innovative approaches.

Advanced Digital Solutions (ADS) (IMDA)

The IMDA Advanced Digital Solutions scheme exists to help early adopter startup businesses which need funding support to digitise.

This may be for sustainability, to scale solutions, or for enhanced security for example. The range of projects and options is quite varied and if there is a demonstrable benefit to the project suggested the IMDA may support with funding via the PSG scheme which we looked at earlier.

To understand more about this program and how it may work for your Singapore startup you’ll need to talk to IMDA directly.

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Other sources of support for Singapore startups

Support for startups here in Singapore goes beyond funding in the form of grants.

It can also be offered in the form of tax rebates, equity funding, support for training and hiring and other non-financial help. Here are a few other places to look for help in the startup landscape.

Tax support

While there are different types of available tax support, one to look out for is Double Tax Deduction for Internationalization (DTDi)¹⁰. This offers eligible companies a double tax deduction on qualifying expenses for international market expansion and investment development activities.

In Budget 2025, it was announced that this scheme will continue to run through to the end of 2030 - so it may be a good option to look out for if you intend to expand internationally at any time in the next few years.

Equity funding

Securing equity funding can be a key step in making your Singapore startup a super successful venture. The good news is that as Singapore is known to be a hub for enterprise, there are many locally based regional and global venture capital companies to talk to.

Some prominent VCs for Singapore startups include Golden Gate Ventures¹¹, Jungle Ventures¹² and Wavemaker Partners¹³.

Each has its own niche, but all have a presence in Singapore which makes access a little easier.

Training and hiring

Another announcement in Budget 2025 was the redesigned SkillsFuture Enterprise Credit (SFEC) which will come online from 2026.

• This scheme is designed to help businesses train new hires to make sure your business is efficient as soon as possible.
• The existing SFEC scheme pays out credit of 10,000 SGD to cover up to 90% of expenses for eligible training offered to employees

If your startup is seeking to train fresh talent or upskill your existing team, this scheme might be of interest. Keep an eye out for what the new version of the scheme will entail when it’s launched.

Startup incubators in Singapore

Startup incubators exist to help launch entrepreneurs into the world of business. Starting your new business is very hard - and the team around you at your incubator can be a huge help in practical and emotional terms.

In Singapore, startup incubators such as JFDI.Asia, Block71, and The Hub offer a range of services, including mentorship, networking opportunities, office space, and access to investors.

Take a look at different startup incubators locally to see if any may match your business ideas and aspirations.

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Conclusion

Startups in Singapore are blessed with a good range of grants and non-financial support to help them hit the ground running.

In particular it’s worth checking out the flagship programmes of Startup SG - the Startup SG Founder Grant, Startup SG Tech grant, and the Startup SG Equity Programme.

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**Sources:**

1. Startup SG Founder Grant
2. Startup SG Tech
3. Startup SG Equity Programme
4. Productivity Solutions Grant (PSG)
5. Business Improvement Fund (BIF)
6. Market Readiness Assistance (MRA) Grant
7. Innovation, R&D and Capability Development Incentives (EDB)
8. Advanced Digital Solutions (ADS) (IMDA)
9. Budget 2025 navigator
10. Double Tax Deduction for Internationalization (DTDi)
11. Golden Gate Ventures
12. Jungle Ventures
13. Wavemaker Partners

Sources checked on 19 February 2025