These can range from human development, a standard of living, per capita income, quality of life, ease of doing business , corporate taxation or company incorporation. Whichever way you look, the small city-state of Singapore stands tall. This has led to a significant increase in the number of startups in the country over the last decade or so, with the number reaching 48, in , as compared to 22, in A major contributing factor in the startup success of Singapore is the growing pool of high net worth individuals, corporations, and institutional investors.
Also, apart from private sources of funding, the Singapore government actively encourages the set-up of incubators and investments into startups through a variety of programmes. Initiatives led by governmental bodies such as SPRING Singapore and the National Research Foundation NRF seek to support local startups by leveraging the expertise of third-party investors and encouraging investments through co-investment schemes.
Then, there is the option of equity fundraising. If you opt to finance your business by selling equity in your startup, you sell partial ownership of your company in the form of shares for a cash investment. However, it is crucial for you to understand that in order to have a good chance of securing equity capital in Singapore, you need to show your potential investors that you have a watertight and comprehensive business plan, clear exit strategies, reasonable and prudent financial projections, an experienced and go-getting management team, as well as strong growth potential.
They can be individuals, or be part of an angel network that engage in investing in businesses with high growth potential and in the industries that they are familiar with. That said, there are some business angels playing active roles in the business while others act as sleeping partners. Angel investors are typically wealthy High Net Worth Individuals or successful businessmen with an appetite for startup companies with higher risk but that are promising enough to yield higher returns.
Therefore your startup should have a high growth potential, in order to win the favour of business angels. Venture capitalists offer not only funding but also advice on increasing your business profitability, and possibly in operational matters as well, especially if your business requires input from different areas of expertise in the team. Popular startups for venture capital funds are those in high growth potential sectors such as IT, biotechnology and nanotechnology with a competitive edge in the market and longevity of profiteering.
Startups whose business involve scientific breakthroughs, Intellectual Property creation and other similar large-scale impact businesses are often favoured by these venture capitalists. The venture capital industry in Singapore is relatively new and small compared to the US and Europe.
Nevertheless, there are actually more than venture capital firms in Singapore ranging from independent limited partnership venture capital firms to corporate-backed venture capital firms. More information can be found at the Singapore Tourism Board website. Thereafter, the P-Max Programme Managers will follow-up with the SMEs and newly trained PMETs for a period of 6 months to monitor their performance, and to assist in making sure that the practices taught at the Workshops are applied.
To apply, you will have to contact the respective Programme Managers or send in your interest at this link. Most of the start-up grants discussed above require you to have already incorporated your company before you can start applying for them. It is not easy to set up a new business and often, there are many legal formalities in the initial stage which require appropriate attention and adherence to.
A corporate services firm provides business support services to companies, including company incorporation. It can assist you with business registration as well as the filing of important documents to comply with the legal requirements of incorporating a company. Most crucially, a corporate services firm can help you manage your compliance deadlines and requirements. With a dedicated corporate services firm handling such legal requirements, you can better direct your resources towards the actual running of your start-up and realising your goals.
If you are interested in engaging a corporate services firm, you can find out more and get in touch with us at this page. After you have successfully set up your company and applied for the relevant grants above, you should take note of the regulatory and compliance requirements mandated under Singapore law. Some of these requirements include having a registered office and appointing a company secretary. The corporate services firm of your choice can also provide corporate secretary services, and help you manage your requirements related to the grants.
Additionally, you may wish to consult a corporate lawyer, either to navigate the many forms and requirements involved with incorporating a company or for legal support with specific tasks like intellectual property protection and reviewing and drafting contractual agreements.
Get in touch with our experienced corporate lawyers here. Your selected AMP will then evaluate your application based on the uniqueness of the business concept, feasibility of the business model, strength of the management team, and potential market value.
Within 5 working days, you will be informed of the result. If your application is approved, Enterprise Singapore will issue a Letter of Offer to you, and your AMP will mentor you over a month period. The grant is disbursed after your business has met certain milestones. A World of Creativity. The place to be Creative entrepreneurship will be the new engine of growth and disruption. The Singapore brand Made-in-Singapore products, campaigns and content have been successful exports to the rest of the world.
Exporting the made-in-Singapore brand to the rest of the world. Home of digital natives The consumer experience has been altered by the digital revolution. Test and develop digital strategies in the smart, connected global city of Singapore. At a Glance. Company Highlights. Creative Industries Lucasfilm Singapore. Creative Industries Dentsu Aegis.
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