1. Micro Funding Scheme (iJAM) Background
The Interactive and Digital Media R&D Programme Office (IDMPO) under the Media Development Authority of Singapore (MDA) launched the IDM Jump-start And Mentor (i.JAM) initiative to seed startups to build prototypes. NUS Enterprise in collaboration with Garag3 has been appointed as one of the mentors to administer the i.JAM funding, on behalf of MDA. Through this scheme, young start-ups or individuals will receive maximum funding of S$55 000.
Eligibility
- Applicants can apply as individuals or companies
- For individual applicants, they can be from any nationality if majority of the work is based in Singapore
- For company applicants, the company must be registered as a legal entity and incorporated in Singapore
- Projects must be rooted in innovative R&D and technology, (must exhibit Interactive Digital Media R&D in either technology, creative, social or business model)
- The team should have at least one full time founder, who holds at least 20% of the project stake.
Funding: This grant covers up to a cap of S$55,000 qualifying cost of the project. Examples of major allowable costs are:
- Subsistence allowance of applicants (subject to a cap of S$600 per applicant per month)
- Third-party manpower costs including advisory costs
- Marketing expenses including overseas business travel
- Research expenses and
- Equipment and software
You can apply here for the grant
2. Young Entrepreneur Scheme (YES!)
SPRING Singapore initiated the YES! scheme to support the entrepreneurial skills of Singaporean youth below the age of 26. The agency will match S$4 for every S$1 that the startup team raise through self-funding, schools or 3rd-party sources. Grant is capped at S$50,000.
Eligibility
- Singapore citizen or Permanent Resident, below 26 years old on the date of application (before 26th Birthday)
- Parental consent must be sought for those below 18 years old
- First-time entrepreneur
- Incorporation of a private limited company (upon approval) with its business activities wholly or mainly based in Singapore.
For more info and application form, check out the NUS Enterprise page.
Please contact muthu@garag3.com for more information.
