SPRING Startup Enterprise Development Scheme (SPRING SEEDS)

Overview Criteria How to apply? Related Links & Resources List of featured SPRING SEEDS investees SPRING SEEDS Capital Investment Profile Publication 2011

Overview

SPRING SEEDS Capital Pte Ltd (SSC), a wholly-owned subsidiary 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.

Criteria

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, but not more than $1 million
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 $1 million where the first round of investment is usually limited to $300,000
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

How to apply?

Investment Procedure

Briefing Session

1. To know more about SPRING SEEDS, you are strongly encouraged to attend the monthly public briefing at SPRING Singapore from 11.00am to 12 noon
2. SSC Investment managers will be present to assist individual enquiries. Please refer to the right hand column of this page for more details

Before you apply

3. Interested start-ups must submit a two-page executive summary of the business for a first-level assessment. You may request for a sample template of the executive summary by emailing us at SEEDS@spring.gov.sg after attending the SEEDS Briefing

Applying for SPRING SEEDS

4. If deemed suitable, the start-up will be required to submit an official application (with detailed business plan and a five-year financial projection), and invited to present their business proposal to the SSC Investment Panel. The founding/management team and third-party investor(s) must attend this meeting.
5. Download the SPRING Startup Enterprise Development Scheme (SPRING SEEDS) Application Form (EXCEL format, 192kB) and submit it together with supporting documents to SSC at SEEDS@spring.gov.sg

Related Links & Resources

View the list of featured SPRING SEEDS investees.
Download the SPRING SEEDS Capital Investment Profile Publication 2010. (PDF format, 10.5MB)
Download the SPRING SEEDS Capital Investment Profile Publication 2011. (PDF format, 2.2MB)