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The Startup SG Founder programme provides capital and mentorship to first time entrepreneurs in Singapore
SPRING Singapore, under its Startup SG programme, announced today the 17 Accredited Mentor Partners (AMPs) that will mentor (and finance) first-time entrepreneurs in the city-state.
Under a programme called Startup SG Founder, SPRING will match S$3 (US$2.13) for every S$1 (US$0.70) raised by a new Founder. The scheme has a budget of S$20 million (US$14.1 million) and will work with the AMPs to tighten the relationship between the government and private sector.
It is the responsibility of the AMPs to identify startups that qualify for the Startup Founder scheme. The AMPs will then help the Founder with mentorship, networking and advice to flatten the learning curve.
The first batch of 17 AMPs does not mark the end of the search for more partners, according to Edwin Chow the Group Director for Industry & Enterprise/ Innovation & Startups at SPRING.
““In collaboration with our partner agencies, we have assembled the first batch of proven partners who are able, and willing, to mentor and accelerate the development of startups. We are looking for more partners with the right capabilities and networks to connect more players in the Singapore startup ecosystem to the world,” he said.
Also Read: Is Singapore tech ecosystem sustainable? Report shows half of startups operating at loss
If other private companies are interested in joining the programme, SPRING will be launching another ‘call for partners’ by the end of the year.
Let’s meet the 17 partners
The list of partners is a fairly diverse group. Three of the major Singapore universities are represented , the Action Community for Entrepreneurship will be a mentor and there are a host of VCs and incubators. The full list is below:
- Action Community For Entrepreneurship
- Advanced New Technology Incubator
- Focustech Ventures
- JCS Venture Lab
- NTUitive
- NUS Enterprise
- SMU IIE
- Quest Ventures
- Airmaker (Ria Venture Capital)
- TAGPASS (Singapore Innovate)
- Spaze Ventures
- The FinLab
- TNB Ventures
- Trendlines Medical
- Tri5 Ventures
- Velocity Accelerator
- Consortium appointment – Ngee Ann Polytechnic, Singapore Polytechnic, Temasek Polytechnic
- This consortium will operate via Pollinate, a joint polytechnic incubator
Also Read: Rejecting global protectionism, Singapore government lowers barrier to entry for foreign startups
Startup SG Founder falls under a larger Startup SG umbrella that includes other programmes to help drive the growth of the digital economy.
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