WHAT are the criteria for Spring Singapore's Business Angels Scheme? How can I apply?
The Business Angels Scheme provides innovative, Singapore-based young companies a matching dollar for every dollar that pre-approved 'angel groups' invest.
If your company is less than five years old and developing innovative products or processes for the global market, you can qualify for the Business Angels Scheme.
This scheme brings together 'business angels' that may invest in your company with a matching dollar from Spring Seeds Capital, an investment arm under Spring Singapore. The investment can reach up to $1 million.
You will have to obtain a minimum investment of $75,000 from one of two pre-approved business angel groups. Both Spring Seeds Capital and the business angel group will take equity stakes in your company in proportion to their investments.
This scheme is similar to the Start-up Enterprise Development Scheme and the Growth Financing Programme in encouraging business angel investments in innovative start-up companies.
For more information, please visit Spring's website http://www.spring.gov.sg/ or e-mail Spring Seeds Capital at seeds@spring.gov.sg
I read about the new SME Infocomm package. Can you provide me with more details about the programme?
To accelerate infocomm adoption among small and medium-sized enterprises (SMEs), the Infocomm Development Authority of Singapore (IDA) launched a Call-For-Collaboration on Nov 7 for vendors.
This involves the formation of a consortium or consortia that would provide one-stop infocomm packages, including personal computers, printers, broadband connectivity, website development, maintenance and hosting, and infocomm business solutions to meet the different needs of SMEs and help them harness the potential of infocomm.
To push early users of infocomm in their businesses, the IDA will co-fund the first 5,000 SMEs with no or little adoption of infocomm when they take up the infocomm packages.
The provision of one-stop infocomm packages is expected to be available to SMEs from May, by which time there will be more details on the IDA website www.ida.gov.sg
