If you’re a new entrepreneur in Singapore, it’s easy to assume that bank loans are your only funding option. In reality, Singapore’s startup ecosystem is supported by a wide range of financing solutions, including government grants that offer non-repayable capital and private funding options, all designed to help startups make their first leap forward.

Government grants for startups can help cover development costs, support innovation, and even connect you with mentors. On the other hand, debt financing can offer faster, more flexible access to funds, especially if you’re not ready to give up equity or meet strict grant conditions.

This guide breaks down some of the key business grants and financing opportunities in Singapore, how they work, and what you need to qualify.

List of Government Grants for Startups

Below are some examples of government grants for startups available in recent years:

1. Enterprise Development Grant

This grant from Enterprise Singapore (EDG) supports projects that help you upgrade, innovate, or expand overseas. It covers up to 50% of qualifying project costs (up to 70% for approved sustainability projects). For instance, you can use it for consultancy fees, software or equipment purchases, and workforce costs. 

To qualify, your company must be registered and operating in Singapore, with at least 30% local shareholding ownership, and be financially ready to start the project. The EDG has no direct funding cap per se, but the investment allowance portion is capped at S$10 million per project. You apply through the Business Grants Portal and submit a project proposal. The significant benefit is non-dilutive funding – you don’t give up equity and repay nothing as long as you complete the project.

2. Productivity Solutions Grant (PSG)

The Productivity Solutions Grant (PSG), administered by Enterprise Singapore, is one of the most widely used government grants for SMEs and startups in Singapore. It helps businesses adopt pre-approved digital solutions and equipment to enhance productivity and streamline operations.

Eligible startups can receive up to 50% support on qualifying costs, with an annual grant cap of S$30,000 per company.

You can use the PSG for various sectors such as F&B, retail, logistics, and more, to purchase solutions for digital marketing, accounting, customer management, and inventory tracking.

To qualify, your business must:

  • Be registered and operating in Singapore.
  • Have at least 30% local shareholding.
  • Have an annual sales turnover below S$100 million or fewer than 200 employees.
  • Use the purchased solution in Singapore, and only engage pre-approved vendors.

You can browse pre-approved solutions and submit your application via the Business Grants Portal. It’s one of the most straightforward and popular grants for startups getting their digital tools in place.

3. Startup SG Founder

This programme supports first-time business owners through a 1:1 matching grant of up to S$50,000. That means that for every S$1 the founder invests, the government matches it with S$1, up to a maximum of S$50,000. Since it is run through Accredited Mentor Partners (AMPs) such as National University of Singapore (NUS) or Nanyang Technological University (NTU), they can pair you with experienced mentors. So, in addition to the grant, you get training and mentoring to help develop your business plan. 

To be eligible, you must be a Singapore Citizen or Singapore Permanent Resident, and the core team must include at least three local founders (of whom at least two are first-time entrepreneurs). The startup must be registered in Singapore and fulfil at least 30% local shareholding. Entrepreneurs may apply via the Startup SG portal and must join an AMP program.

4. Startup SG Tech

Startup SG Tech is one of the prime examples of government grants for startups in the technology space. It supports two stages: Proof-of-Concept (POC), which offers up to S$400,000 and Proof-of-Value (POV) funding of up to S$800,000. As a result, you get large quantum grants to develop your tech before private investors step in.

To qualify, your company generally needs to be young (registered ≤10 years), with at least 30% local shareholding and fulfil the SME criteria of having ≤S$100M in annual revenue or ≤200 staff. Furthermore, you also need a credible tech product under development. Applications can be made through Enterprise Singapore (via the Business Grants Portal). 

5. EDB Innovation, R&D and Capability Development Incentives

The Singapore Economic Development Board (EDB) offers a suite of incentives to spur R&D, innovation and capability building in companies. 

If you invest in R&D or IP development, EDB’s Intellectual Property (IP) Development Incentive can provide tax benefits for qualifying activities. While specific tax deduction rates may vary, the incentive supports businesses that commercialise IP from Singapore. 

The Training Grant for Company (TGC) covers a significant portion of your expenses for sending employees to approved training programmes, helping you upgrade skills in technology, manufacturing or other areas.

Eligibility requires a Singapore-incorporated company with substantial operations here. You typically apply via EDB’s website or through business development officers. The key benefits are generous grant support for innovation, tax incentives and workforce upskilling to grow your business.

6. Business Improvement Fund (BIF)

The Business Improvement Fund (BIF) by the Singapore Tourism Board (STB) targets tourism-related companies. In other words, BIF supports projects that boost productivity and competitiveness in the tourism sector by adopting new technology or business processes, such as acquiring new Customer Relationship Management tools or creating a new booking reservation system. It has recently expanded to include sustainability initiatives (like green certifications) as qualifying projects. Eligible applicants include Singapore-registered tourism businesses or tech companies creating solutions for tourism.

To apply, you must prepare and submit a project proposal to STB via the Business Grants Portal. Funding is reimbursed upon meeting project milestones.

Private Financing Options for Startups

Private funding companies also offer startup financing comparable to government grants for startups. Here are the benefits:

1. Funding Societies

Funding Societies has financed over US$4 billion in business loans across the region, offering term loans, invoice financing, supply-chain finance and micro loans. In addition,, the lender has a  special programme custom-tailored to aspiring startup owners: Start-Up Financing, which allows companies to gain access to a S$10,000 loan for 5 months at 0% interest on timely repayments.

The application process for a loan is fast –  funds can be disbursed as quickly as 1 working day upon approval. This allows you to cover initial operations costs and cashflow gaps without worry. To qualify, your business must be a Pte Ltd or LLP entity incorporated in Singapore, with at least 30% local shareholding and minimally a Singaporean Citizen or Permanent Resident  director as guarantor. 

You can apply online via Funding Societies’ website  by submitting basic business and financial info. 

2. JLABS Singapore

Johnson & Johnson (J&J) Innovation has set up JLABS Singapore (in partnership with EDB) as an incubator for life sciences and health-tech startups. Unlike a typical grant or loan, JLABS doesn’t give cash—instead, it provides lab space, equipment, and global access to J&J’s network. 

Startups in biotech, medtech, or digital health can apply to join JLABS. If accepted, they will gain access to co-working labs, resources and J&J’s extensive mentorship and funding ecosystem. Interested founders can visit the J&J Innovation website and participate in opportunities such as the JLABS QuickFire Challenge to apply for this programme.

3. Angel investor networks

Singapore has several active angel groups where wealthy individuals co-invest in startups. For instance, Business Angels Network of Southeast Asia (BANSEA) is Asia’s oldest angel network (since 2001). It connects startups with accredited private investors who can fund seed or early rounds. BANSEA typically looks for investments between S$100,000 and S$1,000,000, though syndicates can collaborate for larger funding rounds. Startups can submit their business plans to BANSEA. Successful applicants will be invited to pitch at one of their investor events.

4. Venture Capital

Beyond angels, Venture Capital (VC) firms provide equity funding in exchange for company ownership. Singapore is home to many VCs active in Southeast Asia. For example, Golden Gate Ventures is a local VC with about US$250 million assets under management for early-stage tech deals. Others include Sequoia Capital (India/SEA), Jungle Ventures, Temasek-linked Vertex Ventures , Monk’s Hill, 500 Global (formerly 500 Startups), Qualgro, and more. 

These firms typically invest from hundreds of thousands to millions of dollars, especially in Series A or later rounds. The trade-off is equity: VC funding means sharing ownership but brings large capital injections and strategic support. As a rule of thumb, if your startup has considerable growth potential, VCs can offer big-ticket funding that banks won’t. 

To engage VCs, you generally need a strong pitch and some traction. Before submitting your pitch, you may be asked to contact firms directly or get introduced by someone within their network.

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Making the Most of Startup Funding Opportunities in Singapore

Singapore’s startup ecosystem is supported by a wide range of funding options beyond traditional bank loans. As a startup founder, you can reduce cost and risk by exploring both government grants and private financing. Each funding avenue comes with its own strengths, so it’s worth evaluating all options that could support your goals.

For example, if you need quick access to capital as a startup, Funding Societies’ Start-Up Financing offers a S$10,000 loan that can be approved and disbursed as quickly as 1 working day. Best of all, there is zero interest charged if repayments are made on time. 

Learn more about how to apply here and jumpstart your dream business venture now!

Dorcas Pang
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