Startup SG Equity
A government co-investment scheme that stimulates private sector investments into innovative, Singapore-based technology startups with intellectual property and global market potential. The government co-invests with independent, qualified third-party investors on the same terms, with enhanced support for deep-tech startups. Administered through SPRING SEEDS Capital (SSC) and appointed investing partners.
Eligibility Criteria
- 01
Private limited company incorporated in Singapore
- 02
Paid-up capital of at least S$50,000
- 03
Not a subsidiary or joint venture
- 04
Incorporated for less than 10 years
- 05
Core activities carried out in Singapore
- 06
Products/services/applications are highly innovative with substantial intellectual content
- 07
High growth prospects and international scalability
- 08
Has identified third-party investor(s) ready to invest
- 09
NOT eligible: Subsidiaries or joint ventures of larger companies
How to Apply
1. **Secure lead investor** - First, secure investment commitment from one or more independent third-party investors (minimum $50,000 each) 2. **Prepare documents** - Gather: business plan, financial statements/management accounts, ACRA business profile, investor background information 3. **Submit executive summary** - Prepare 2-page summary covering: company profile, proposed product/solution, technology/innovation, business roadmap, competitive landscape, use of funds 4. **Investor submits application** - The third-party investor submits co-investment application to Startup SG or approaches an appointed partner directly 5. **Due diligence** - SPRING SEEDS Capital (SSC) conducts due diligence on both startup and investors 6. **Investment panel review** - For independent investors, an investment panel of experts evaluates the application 7. **Receive investment** - If approved, government co-invests on the same terms as third-party investors, disbursed over tranches based on milestones
Claims and Disbursement
This is an equity investment, not a grant. SSC takes an equity share based on startup valuation. Investment horizon is typically 5-7 years. Exit options include trade sale, IPO, or M&A. Post-funding, SSC participates in shareholders meetings and observes Board meetings.
Frequently Asked Questions
For general-tech startups: Up to S$2 million total (government invests 70% up to $250K raised, then 1:1 thereafter). For deep-tech startups: Up to S$8 million total (government invests 70% up to $500K raised, then 1:1 thereafter). Funds are disbursed in tranches based on milestones.
Deep-tech startups focus on substantial scientific advances and engineering innovations (e.g., biotech, advanced materials, AI/ML research, quantum computing). General-tech includes other technology-enabled businesses with innovative products/services. Deep-tech startups receive higher co-investment caps due to longer commercialisation timelines.
Yes. Startup SG Equity is a co-investment scheme - you must first secure commitment from independent third-party investors who meet the eligibility criteria. The investor then applies for government co-investment. You cannot apply directly without an investor.
Investors must: (1) Be able to contribute to the startup's growth through mentorship, experienced management team, supportive business network, or value-adding expertise; (2) Be prepared to invest at least S$50,000 each into the startup.
Yes, startups with foreign founders can apply, provided the company meets all eligibility criteria (Singapore-incorporated, core operations in Singapore, etc.). Third-party co-investors can also be foreign but must meet investor eligibility criteria.
SSC takes an equity stake and plays an active role as a strategic advisor. They participate in shareholders meetings, observe Board of Directors meetings, and must be kept updated on major changes and regular performance updates. Typical investment horizon is 5-7 years.
Yes! A unique advantage of Startup SG Equity is that successful applicants are not excluded from applying for other government grants and schemes.
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Startup SG Equity
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Startup SG Equity (SSGE) is a co-investment programme where the Singapore Government co-invests alongside qualified third-party investors (venture capital firms, angel investors, corporates) into Singapore-based technology startups. The programme reduces risk for private investors by providing matching government capital and is administered through appointed fund managers, with SEEDS Capital being one of the primary fund managers. This is equity financing, not a grant — the government takes an equity stake alongside private investors. The programme covers startups at early and growth stages with different investment caps and co-investment ratios depending on whether the startup is classified as general tech or deep tech. Deep tech startups benefit from more favorable initial co-investment ratios due to their longer commercialization periods and higher barriers to entry.
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