spring.gov.sg Startup Enterprise Development Scheme Singapore : SEEDS Capital

Organization : SPRING SEEDS Capital Pte Ltd
Service Name : SPRING Startup Enterprise Development Scheme
Country: Singapore

Website : http://www.spring.gov.sg/Nurturing-Startups/SEEDS/Pages/spring-start-up-enterprise-development-scheme.aspx

SPRING Startup Enterprise Development Scheme :

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.

Related : WIS Income Supplement Scheme Singapore : www.statusin.org/26435.html

For the applicant:
To be eligible for investment consideration, interested start-ups must :
** be a Singapore-based company with core activities carried out in Singapore.
** be incorporated as a Private Limited company for less than five years.

** have paid-up capital of at least $50,000.
** be able to evidence substantial innovative and intellectual content for its products and/or services and/or applications.

** have high growth potential with clear scalability for the international market.
** have identified a ready, independent third-party investor(s).

For the investor(s):
** 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.
** The corporate investor(s) must be legal entities with a minimum paid-up capital of $500,000.

** 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.

** The investor(s) must be willing to take up a Board seat in the startup, should the investment be supported by SSC.
** 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:
** 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.

** Both SPRING SEEDS Capital and the third-party investor(s) will then take equity stakes in the company in proportion to their investments.
** 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:
Briefing Session:
** To know more about SPRING SEEDS, you are strongly encouraged to attend the monthly public briefing at SPRING Singapore.
** SSC Investment managers will be present to assist individual enquiries.

Before you apply:
** 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:
** 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.