Startup SG Founder Grant

TRi5 Ventures is an appointed AMP of Startup SG to administrate and promote the Startup SG Founder Grant of S$30k.

This is only applicable to Singaporean citizens and PR who are first-time founders.

TRi5 Ventures will be making a co-investment of S$10k in exchange for equity to qualified applicants who meet our investment mandate.

How to qualify

Startup is entrepreneur-driven

At an idea stage, TRi5 Ventures has found the most important ingredients of a successful startup is a driven and passionate entrepreneur with a solid foundation.

This means we prioritise the entrepreneur over the idea at this stage. If we like the entrepreneur, we will work with the entrepreneur to build a solid foundation for future investment.

Investment vertical

  • Fintech
  • Edutech
  • Energytech
  • Marketplaces (only if platform is targeting a SEA market outside SG)

There should be utilisation of with deep technologies and IP.

Other important criteria

  • The team must have a CTO who is able to execute and oversee the development of the Tech IP.
  • The team must hold 90% of the company (if incorporated)

SPRING Singapore has other requirements which are highlighted in the next block.

When presenting a deck, it is important to highlight the background of the CEO founder and the founding team.

SPRING Singapore has intended this grant to support Singaporeans in their first step into entrepreneurship.

The requirements are:

Main applicant must:

  • Be a Singapore Citizen / PR;
  • hold or propose to hold at least 30% equity in the underlying company;
  • Has not incorporated any Pte. Ltd. company before, or has a Pte. Ltd. company which is less than 6 months from the time of application;
  • Not received any other government related funding;
  • be a full-time founder (CPF statements will be required as proof). Tertiary students may still apply.

The company / proposed company must:

  • have at least 51% of Singaporean shareholding and not be incorporated for more than six (6) months at the point of application to SPRING;

Founders can find out more at Spring’s FAQ.

It is not possible to offer solely on the grant. As a VC, we are strictly tied to our core mandate of investment.

You may consult other AMPs who may be able to provide the grant solely without any co-investment tied together.

Only Singapore citizens and PRs can apply for the grant and meet the requirements of SPRING Singapore.

Foreign co-founders are allowed to be part of the startup, so long as the Singaporean ownership is 51%.

We do not sign NDAs. We receive so many plans each week that if we were to sign every NDA request, we would quickly be swamped with legal documents.

Our reputation depends on our professionalism and our ability to maintain the trust of the entrepreneurs with whom we work. We will take care to keep your materials confidential. If you are not agreeable, please do not proceed with the advisory.

You can write to us under others and our team will get in touch with you shortly.

What you will get

Investments and funding

  • S$40k funds into your startup
    • S$10k investment* + S$30k grant
  • Follow-on participation of up to S$200k in seed funding by Tri5**

* Valuation cap at S$500k
**Subjected to Tri5’s seed investment mandate

Training and development

Pre-funding stage (1-2 months)

  • Business model assessment
  • Entrepreneurial development sessions
  • Company structure (founder’s agreement, accounts setup)

Funding stage (3-6 months)

  • Weekly 1-to-1 advisory and mentorship from our experienced mentors*
    • Business model assessment, product market fit, GTM into SEA, company structuring, hiring strategies
    • Continued entrepreneur personal development (Vision planning, negotiation)
    • Fundraising strategies and pitch deck for seed investment
    • Monitoring of KPI results

*Mentors come from our previous iJAM incubator which we helped 38 startups raise S$7.5m in seed funding and provided 700 1-to-1 advisories over 6 years.

A place to call home

  • Co-working space @ $80 per table (24 hour access) at Block 71

Other extras

  • Basic company secretary and accounting services @ $100 a month
  • Legal services package from our partner
  • Free Cloud hosting service from our partners

Our mentors from the NEXT50 movement

As part of building the next generation of Singapore founders, the following mentors have committed the time to meet Singapore entrepreneurs for one-off sessions. If you have a particular preference for a mentor, please indicate in the contact form.

Kenneth Lou

Co-founder, Seedly

Ted Poh Chen Wei

CEO and co-Founder, Pegaxis

Pei Lin Cho

Managing Director, Asia PR Werkz

Elvin Zhang

Founder, Toucan

Jaryl Sim

Founder & CTO, Tinkerbox Studios

Jason Tamara Widjaja

Associate Director Data Science, MSD

Alan Seng

Digital Marketing / Social media, Tech in Asia

Gene Yan Ooi

Co-Founder, Shentillium

Do you know someone who might need grant and co-investment to kickstart their startup?