Startup SG Tech has been revised to provide successful applicants with greater ease of cashflow. For applications received from 1 August 2017, the grants will be awarded upon the completion of each milestone; unlike previously by reimbursement. To cultivate greater financial discipline and a growth-oriented mindset that is consistent among venture-backed startups, the grant will also carry an equity component where Enterprise Singapore will have the rights to exercise a share subscription.
The Startup SG Tech grant fast-tracks the development of proprietary technology solutions and catalyses the growth of startups based on proprietary technology and a scalable business model. Startup SG Tech is a competitive grant that supports Proof-of-Concept (POC) and Proof-of-Value (POV) for commercialisation of innovative technologies. Companies may apply for POC or POV grants depending on the stage of development of the technology/concept.
Through Startup SG Tech, companies may receive early-stage funding for the commercialisation of proprietary technology.
What is Proprietary Technology?
Proprietary Technology refers to a combination of processes, tools, or systems of interrelated connections, which may be derived from Research Institutes, Institutes of Higher Learning or Public Health Institutes. Proprietary Technology should ideally involve Intellectual Property (IP) or Intellectual Assets (IA) which should be owned by the individual/startup. The system integration of off-the-shelf components is not considered as proprietary technology.
E.g., A robotics startup has developed a custom end effector with a visual programming system that allows it to handle delicate objects. While the robotic arm required in the prototype may be considered as an off-the-shelf component, the software portion of custom end effector with the visual programming system can be considered proprietary technology.
Startup SG Tech is a competitive grant that supports Proof-of-Concept (POC) and Proof-of-Value (POV) for commercialisation of innovative technologies. Companies may apply for POC or POV grants depending on the stage of development of the technology/concept.