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SPRING Startup Enterprise Development Scheme (SPRING SEEDS)

Raising early capital to scale up your company? You can grow your business with investments from SPRING SEEDS Capital, SPRING’s investment arm, which provides an equity-based co-financing option for Singapore-based start-ups with innovative products and/or processes with intellectual content and strong growth potential across international markets.

SPRING Startup Enterprise Development Scheme at a glance

SPRING SEEDS Capital Pte Ltd (SSC), is the investment arm of SPRING Singapore, manages the SPRING Start-up Enterprise Development Scheme (SPRING SEEDS), an equity-based co-financing option for Singapore-based start-ups with innovative products and/or processes with intellectual content and strong growth potential across international markets.

For the applicant

To be eligible for investment consideration, interested start-ups must :

  1. be a Singapore-based company with core activities carried out in Singapore.
  2. be incorporated as a Private Limited company for less than five years.
  3. have paid-up capital of at least $50,000.
  4. be able to evidence substantial innovative and intellectual content for its products and/or services and/or applications.
  5. have high growth potential with clear scalability for the international market.
  6. have identified a ready, independent third-party investor(s).

For the investor(s)

  1. The corporate or individual investor(s) must not have prior interest in the company at the point of application and must be independent and objective.
  2. The corporate investor(s) must be legal entities with a minimum paid-up capital of $500,000.
  3. The investor(s) must also be able to contribute to the startup's growth. The investor(s) should possess the management experience, relevant business contacts and/or necessary technical expertise that can value add to the startup.
  4. The investor(s) must be willing to take up a Board seat in the startup, should the investment be supported by SSC.
  5. The investor(s) must be prepared to invest at least $75,000 each into the business and conduct due diligence on the company.

Investment Quantum

  1. For approved deals by the SPRING SEEDS Investment Panel, SSC matches the sum invested by third-party investor(s) dollar-for-dollar up to a maximum of $2 million. The total sum will be invested in tranches, based on identified milestones.
  2. Both SPRING SEEDS Capital and the third-party investor(s) will then take equity stakes in the company in proportion to their investments.
  3. Subject to the company's specific progress and performance, additional investments can be considered at a later round for up to $1 million, inclusive of the initial investment.

Investment Procedure

Before you apply

  1. Interested start-ups must submit a two-page executive summary of the business for a first-level assessment. Download the executive summary template (pdf, 63KB). Email the completed document to SEEDS@spring.gov.sg.

Applying for SPRING SEEDS

  1. Shortlisted start-up will be required to submit an official application which includes a detailed business plan, financial statements and details of the third party investor (s). If deemed suitable upon further assessment and due diligence, the company and third-party investor will be invited to present to SSC’s Investment committee for final investment approval.

Links & Resources

Last Updated on : 11 Jan 2016

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