ACE Startups Grant at a glance
The ACE Startups Grant provides funding support to entrepreneurial Singaporeans who want to take their first step in starting up differentiated businesses. Applications will be shortlisted on a competitive basis based on the 4 key evaluation criteria of differentiation, business model feasibility, potential market opportunity and management team.
SPRING will match S$7 to every S$3 raised by the entrepreneur for up to S$50,000, i.e. For you to receive a grant of $50,000, you will need to raise $21,429 for co-matching upon acceptance of the Letter of Offer.
* Company expenditures incurred prior to acceptance of the Letter of Offer cannot contribute to the co-matching amount required.
SPRING does not take equity in your company. The grant will be disbursed over 2 – 3 tranches when you hit pre-determined milestones.
In addition, SPRING will also match you with a mentor, who will support the sustainable growth of your start-up in its first year.
For enquiries, please email firstname.lastname@example.org.
All Singapore Citizens and Permanent Residents who :
* You will be classified as a 'First time entrepreneur' if you have never registered any type of business entities with ACRA. To check if you have any previous ACRA records, you may use the 'people search' function at iShop@ACRA.
- are first-time entrepreneurs*
- hold at least 51% equity in the company
- are the key decision makers and committed to the company on a full-time basis
- have parental consent if they are below 18 years old at the point of application
Your company must not be registered or incorporated for more than 6 months at the date of submission and/or have received any funding for the proposed business idea from another Government agency.
Your proposed business idea must not be in the following list :
- Cafes, nightclubs, lounges, bars
- Foot reflexology, massage parlours, beauty salons
- Prostitution, social escort services
- Employment agencies (including recruitment of foreign workers, relocation services and manpower services)
If you are a first-time entrepreneur with a unique and differentiated business idea, you can apply for the ACE Startups grant and receive up to $50,000 in co-matching funds to start.
* From May 2014, the Call for Proposals closes on the last working day of even months (i.e June/August/October, etc) at 5pm. If you are submitting your application on 24th Dec or 31st Dec, please do so before 12pm.
Before you apply
- Learn more about the ACE Startups Grant from the ACE Grant Info Sheet (, 66KB).
- Ensure that you are eligible for the grant.
Applying for the grant
- Download the ACE Startups Grant Interest Form (, 300KB).
- (Optional) Write your business plan in not more than 20 pages. Approach a ACE Start-ups Grant Partner (, 224KB) if you need help in refining your business idea.
- Prepare the following documents for submission :
- Hardcopy of signed Submission Form
- (Optional) Hardcopy of your CV and of the management team
- (Optional) Copy of you and your management team’s NRIC
- (Optional) Hardcopy of business plan
- (Optional) Hardcopy of Accounting & Corporate Regulatory Authority (ACRA) e-statement to declare that you are a first-time entrepreneur. You can do this by visiting www.bizfile.gov.sg. Refer to ACE Grant Info Sheet for more details.
- Submit a hardcopy of the required documents to :
ACE Startups Grant Administrator
1 Fusionopolis Walk
#01-02 South Tower, Solaris
- You will receive notice on the status of your proposal within 6-8 weeks of the submission deadline.
- If you are shortlisted, you will be notified to pitch your proposal to an Evaluation Panel, which comprises of experienced entrepreneurs, entrepreneurship educators and professionals in the field.
Upon successful application
- You will receive a Letter of Offer from SPRING. Please return the Letter of Acceptance within one month from the date of Letter of Offer if you are accepting the grant.
Claiming for the grant
- The grant will be disbursed in tranches based on pre-determined milestones.