Singapore stands out as a leading startup ecosystem regionally and globally. Recognised as the top startup ecosystem in Asia and seventh worldwide, it is little wonder that startups are proliferating here, rapidly expanding and reaching new heights.
So, if you're looking to launch a new business and secure startup funding in Singapore, you're in the right place. This guide explores some of the best avenues available for you to get your venture off the ground.
Why Is Singapore Good for Startup Growth?
Singapore boasts a business-friendly environment, a robust infrastructure, and access to a highly skilled talent pool. While the success rate of new businesses globally hovers between 10% and 20%, Singapore sits comfortably higher at 30%.
If you're looking for an entry point into your market, the country offers a strong foundation from which you can explore your startup funding options and build a business that lasts.
The Singapore Startup System
The startup system in Singapore functions like a well-oiled machine, designed to nurture and support businesses at every stage of their journey. The ecosystem is vibrant and far-reaching, with a network of investors, incubators, accelerators, and government agencies all working in tandem to foster innovation and growth.
For instance, initiatives like Startup SG provide a comprehensive support framework for entrepreneurs, making it easier than ever to access the resources you need to help your startup take off.
1. Government Grants
The Singapore government offers a range of grants designed to support startups at various stages of growth. Some of these grants provide non-dilutive funding, meaning you can retain full ownership and control of your company without giving up any equity.
However, government grants often come with stringent eligibility criteria, detailed reporting requirements, and milestones tied to specific industry sectors. Therefore, be prepared for more administrative processes compared to other funding avenues, and ensure you have the capacity to meet the associated compliance demands.
Here’s an overview of the key government grants currently available to startups in Singapore:
|
Grant |
Description |
Funding amount |
Eligibility criteria |
|
Startup SG Founder Grant |
Financial support and mentorship for first-time entrepreneurs with innovative business ideas. |
SGD 20,000 to SGD 50,000, subject to capital matching |
|
|
Startup SG Tech |
Supports the development and commercialisation of innovative technology solutions. |
Up to S$400,000 (POC) Up to S$800,000 (POV) |
|
|
Startup SG Equity Programme |
Government-backed co-investment with independent, qualified third party investors for technology startups with intellectual property. |
Up to SGD 12 million, depending on business type and co-investment partners |
|
|
Productivity Solutions Grant (PSG) |
Supports local SMEs adopting IT solutions and equipment to improve productivity. |
Up to 50% of eligible costs, capped at SGD 30,000 |
|
|
Business Improvement Fund (BIF) |
Assists tourism startups investing in technology and process enhancements. |
Funding amount varies based on project and business type. |
|
|
Market Readiness Assistance (MRA) Grant |
Helps startups entering a new overseas market with business development, promotion, and set-up costs. |
Up to 50% of eligible costs, capped at SGD 100,000 per company per new market |
|
|
Innovation, R&D and Capability Development Incentives (EDB) |
A range of EDB-supported programmes for startups and key enterprises across different sectors. |
Varies across different programmes based on business type and need |
Eligibility criteria vary by scheme. Check directly with EDB for relevant requirements. |
|
Advanced Digital Solutions (ADS) |
Funding support for early-adopter startups looking to accelerate their digitalisation journey. |
Administered via the PSG scheme |
Eligibility criteria vary. Check directly with IMDA for relevant requirements. |
Startup SG Founder Grant
Designed for first-time entrepreneurs, the Startup SG Founder Grant provides seed funding of up to SGD 50,000 alongside dedicated mentorship support.
It is particularly well-suited to early-stage startups with innovative business ideas, helping founders validate their concepts and establish a sustainable foundation for long-term growth.
Startup SG Tech
If your startup is built around proprietary technology, this grant supports the development and commercialisation of innovative solutions at the Proof-of-Concept and Proof-of-Value stages.
With funding of up to SGD 800,000 subject to capital matching, it is one of the more substantial startup funding options available in Singapore for tech-driven ventures.
Startup SG Equity Programme
This programme facilitates government-backed co-investment alongside venture capital firms, making it an attractive option for technology startups with intellectual property seeking significant capital.
Funding of up to SGD 12 million is available, depending on business type and co-investment partners, offering a powerful boost for startups with strong international scalability.
Productivity Solutions Grant (PSG)
The PSG helps businesses adopt pre-approved IT solutions and equipment to enhance operational productivity.
Covering up to 50% of eligible costs, it is an accessible and practical grant for startups looking to streamline their processes and build a more efficient, technology-enabled operation from the ground up.
Business Improvement Fund (BIF)
Tailored specifically for tourism-related businesses, the BIF supports startups investing in technology adoption, process innovation, and sustainability initiatives.
If your venture operates within Singapore's tourism sector, this grant offers meaningful financial support to help you modernise your business model and improve overall operational performance.
Market Readiness Assistance (MRA) Grant
For startups with ambitions beyond Singapore's borders, the MRA Grant offsets up to 50% of eligible costs associated with entering a new overseas market.
From market development to business set-up expenses, it provides targeted funding for new businesses ready to take their first steps towards international expansion.
Innovation, R&D and Capability Development Incentives (EDB)
Administered by the Economic Development Board, this initiative encompasses a broad range of programmes supporting innovation, research, and capability development across multiple industries. Options include:
- IP Development Incentive (IDI)
- Partnerships for Capability Transformation (PACT) Scheme
- Tech@SG Programme
- Tech.Pass
As eligibility criteria and funding levels vary by scheme, startups are encouraged to engage directly with EDB to identify the most suitable programme for their needs.
Advanced Digital Solutions (ADS)
Administered by the Infocomm Media Development Authority (IMDA), the ADS scheme supports startups embarking on their digitalisation journey.
Funding is channelled through the PSG scheme, making it a practical option for early-adopter businesses seeking financial assistance to implement advanced digital technologies and strengthen their long-term competitiveness.
2. Venture Capital Firms and Angel Investors
For startups seeking substantial capital, venture capital firms and angel investors can be invaluable partners.
Beyond funding, they bring strategic guidance, industry connections, and hands-on expertise to help you navigate the complexities of scaling your business – all in exchange for a portion of ownership in your company.
Angel investors typically focus on early-stage startups, providing seed funding to help get your business off the ground.
Meanwhile, venture capital firms tend to target later-stage companies with proven growth potential and a clear path to profitability.
However, both will generally expect a seat on your board and a degree of influence over major business decisions. This is something you have to weigh carefully if maintaining full control is a priority for you.
To help you get started, here’s an overview of some notable venture capital firms and angel investors operating in Singapore.
Venture Capital Firms
|
Firm |
Focus |
Notable stages |
|
Monk's Hill Ventures |
Tech startups leveraging fast-growing Southeast Asian markets across enterprise software, mobile, and Big Data. |
Early-stage |
|
Wavemaker Partners |
Cross-border investments in Enterprise, Deep Tech, and Sustainability solutions across Southeast Asia. |
Early to growth-stage |
|
Golden Gate Ventures |
Consumer internet, social media, e-commerce, digital entertainment, and crowd-sourcing across Southeast Asia. |
Early to growth-stage |
|
DreamLabs |
Disruptive, scalable companies across Cleantech, Fintech, eCommerce, Healthcare, and Energy sectors. |
Early to growth-stage |
Angel Investor Networks
|
Network |
Focus |
Notable stages |
|
Business Angel Network Southeast Asia (BANSEA) |
Mentorship and capital investment for startups targeting Southeast Asia's fast-growing markets. |
Early-stage |
|
XA Network |
Connecting technology executives, founders, and investors for high-impact investment opportunities globally. |
Early to growth-stage |
|
AngelCentral |
Funding and supporting quality startups across Singapore and Southeast Asia through syndication services. |
Early-stage |
3. Crowdfunding and P2P Lending
Crowdfunding and peer-to-peer (P2P) lending platforms allow you to raise startup funding from a large pool of individuals.
Beyond the capital itself, having people validate your idea can help build a community around your brand, creating early adopters and advocates in the process.
While both approaches rely on online platforms to connect you with potential funders, they differ in structure. Crowdfunding typically involves rewards or equity, where backers receive perks, early access, or a share in the company.
Meanwhile, P2P lending is debt-based, where individuals lend money with the expectation of repayment plus interest, bypassing traditional financial institutions entirely.
Discover some of the key P2P lending and crowdfunding platforms available to startups in Singapore:
|
Platform |
Type |
Profile and focus |
|
Funding Societies |
P2P Lending |
SME digital financing platform specialising in short-term business financing. |
|
BRDGE |
P2P Lending |
MAS-licensed platform connecting Singapore SMEs with retail and institutional lenders. |
|
Kapital Boost |
P2P Lending |
Islamic P2P platform connecting global investors with promising SMEs in Singapore and Indonesia through short-term, ethical investment opportunities. |
|
SMARTFUNDING |
P2P Lending |
Connects Singapore SMEs seeking financing with global investors, prioritising transparency, flexibility, and speed. |
|
Crowd Genie |
P2P Lending |
Online lending platform matching Singapore-based SME borrowers with investors using proprietary risk assessment tools. |
|
In-Fund |
P2P Lending |
MAS-licensed digital marketplace connecting creditworthy Singapore SMEs with investors seeking risk-adjusted returns. |
|
FundedHere |
Crowdfunding |
Empowers Southeast Asian e-sellers with rapid capital access, ecosystem partnerships, and operational growth support. |
|
Fundnel |
Crowdfunding |
Connects promising new businesses with fundraising opportunities in a community of investors and entrepreneurs. |
4. Accelerators and Incubators
Accelerators and incubators offer more than just startup funding. They provide mentorship, resources, and a supportive environment to help you refine your business model and accelerate growth.
On the other hand, these programmes can be highly competitive, requiring founders to commit time to intensive workshops, mentorship sessions, and networking events. Consider applying if you're looking for mentorship and guidance in addition to funding and if you're prepared to dedicate the necessary time and effort to maximise the programme's benefits.
Accelerators and Incubators in Singapore
|
Name |
Type |
Description |
|
Accelerating Asia |
Accelerator |
A venture capital fund and 100-day accelerator program designed for high-growth, pre-Series A startups in the region. Eligible startups can receive up to $250,000 USD in funding in exchange for equity to help them scale. |
|
Antler |
Accelerator |
A global early-stage venture capital firm and startup generator in Singapore that helps individuals find co-founders and build teams. They run an accelerator program in 20+ countries and typically provide initial seed funding for start up businesses (often around $100K–$125K USD) in exchange for an equity stake. |
|
Iterative |
Accelerator |
A Singapore-based accelerator exclusively focused on Southeast Asia, offering hands-on guidance to help early-stage founders find product-market fit. They typically invest between $150,000 and $500,000 USD for a 10–15% equity stake. |
|
Surge |
Accelerator |
A rapid scale-up program targeting early-stage tech startups across Southeast Asia and India. Participants receive intensive company-building workshops and substantial seed funding for startups ranging from $1 million to $3 million USD. |
|
BLOCK71 |
Incubator |
Backed by NUS Enterprise, BLOCK71 is a massive ecosystem builder that provides early-stage tech startups with tailored incubation, extensive cross-border market access, and strategic corporate partnerships. Founders tap into a vast network to secure start up funding in the form of tech grants, scale regionally, and connect directly with global investors. |
|
Entrepreneur First (EF) |
Incubator |
A London-based talent investor and incubator that focuses on helping technologists and industry experts build deep-tech companies from scratch. They run programmes across Asia (including Singapore) and help startup founders find suitable co-founders while also providing pre-seed funding to kickstart your validated business idea. |
|
SGInnovate |
Incubator |
Backed by the Singapore government, this program supports early-stage deep tech startups in highly technical fields like AI, quantum tech, and med-tech. They provide equity-based investments, talent access, and connections to major research institutions. |
|
SMU IIE |
Incubator |
Operated by the Singapore Management University, this intensive four-month, equity-free incubation program (BIG) helps early-stage founders validate their products and prepare for seed investment. Startups gain access to downtown co-working spaces, dedicated mentorship, and vital pipeline connections to government and university-backed funding. |
5. Taking a Business Loan or a Business Line of Credit
When your startup requires a larger sum of capital, a business loan or line of credit can be a practical solution. A loan provides a lump sum with fixed repayment terms, while a line of credit offers more flexible, on-demand access to funds. Both options can help you finance growth or manage cash flow effectively.
That said, interest payments can be a significant consideration depending on the lender, so it is essential to go in with a solid financial plan. Before committing, ensure you fully understand the repayment terms and are confident in your ability to meet them consistently. These are some business loans and lines of credit you can explore when funding your startup.
|
Bank / Scheme |
Loan Product |
Loan Amount |
Interest Rate |
Loan Tenure |
Eligibility Requirements |
|
Enterprise Singapore |
EFS — SME Working Capital Loan |
Up to S$500,000 |
Varies by financial institution |
Up to 5 years |
Singapore-registered SME, min. 30% local shareholding, max. S$100m Group revenue or up to 200 employees |
|
Enterprise Singapore |
EFS — Green |
Up to S$50,000,000 |
Varies by financial institution |
Up to 20 years (varies by loan type) |
Singapore-registered business supporting green economy initiatives, 30% local shareholding, Company's Group Annual Sales Turnover should not exceed S$500 million |
|
DBS |
Business Term Loan |
Up to S$500,000 |
Fixed interest rate |
Up to 5 years |
All Singapore-registered businesses can apply. Guarantor required. |
|
OCBC |
Business First Loan |
Up to S$100,000 |
Depends on loan amount and repayment period (8% - 11%) |
Up to 5 years |
Min. 6 months in operation, maximum 2 years, at least 30% owned by Singaporean or Singapore PR, at least 1 employee and more than 50% equity owned by individuals |
|
OCBC |
OCBC Revolving Term Loan |
Up to S$200,000 |
8.88% |
6- or 12-month repayment period for each withdrawal |
The company must be incorporated and operating in Singapore At least 30% of the company owned by Singaporeans / PRs |
6. Self-Funding and Bootstrapping
For many entrepreneurs, starting with their own resources is the natural first step. Self-funding, or bootstrapping, involves using your personal savings, credit, or the revenue your business generates to finance day-to-day operations.
This approach gives you complete control and ownership from the outset. It also signals genuine commitment to your venture, which can make your startup more attractive to future investors down the line.
That said, it does carry a degree of risk, as your personal finances are directly on the line. To make bootstrapping work, you will need a clear and solid financial plan that accounts for your startup's immediate needs and its longer-term growth.
7. Friends and Family
Another early-stage avenue worth considering is seeking funding from friends and family. Those closest to you are often the most likely to believe in your vision and may be willing to provide capital for your startup on the basis of personal trust.
While this can be a convenient and accessible source of funding for your new business, it is important to remember that any financial loss (should your venture not take off) could place a significant strain on your relationships.
Therefore, it's essential to treat these investments as formal, professional agreements with clearly defined terms and expectations. This protects your loved ones financially and helps preserve the relationships that matter most.
House Your New Startup in a Versatile Coworking Space
TWP’s office space rentals
Once you've secured funding, the next step is establishing a base of operations. While a fixed office space may place unnecessary strain on your budget, a coworking space offers a flexible and cost-effective alternative that can grow alongside your business.
The Work Project offers office rentals for businesses of all sizes, from fresh startups to regional enterprises. Our corporate event venues also host regular networking events, giving you valuable opportunities to raise your startup's profile and connect with potential investors or partners.
Browse our coworking offices in Singapore and rent a workspace that works for you today.
