Monday, December 1, 2014

Launch of new programme to boost Singapore's start-up scene

Local start-up scene seemed to get hotter by the minute.. We now have an accelerator programme by European firm Startup Bootcamp FinTech looking to support up to 10 start-ups here. This is an European firm and launched together with IDA (Infocomm Development Authority), the programme will provide successful applicants with funding up tp S$24,000 together with office space - for at least 3 months at Singapore's start-up cluster at One-North. Participants will also receive mentorship and access to a network of industry partners, investors and venture capital firms. The team from Startupbootcamp FinTech will host a series of pitching sessions across the region from Jan to March for interested start-ups that want to present their ideas.

IDA sais it has tied up with Founders Forum, a network of tech entrepreneurs and investors, to host the inaugural Founders Forum Smart Nation Singapore here in April next year.

Monday, November 17, 2014

Startup Grants and Schemes in Singapore


"Singapore is perhaps one of the most proactive governments in the world when it comes to developing the tech industry: it pumps tons of money into grants and initiatives to create its own version of Silicon Valley.

But the extent of government help causes another problem. There are so many initiatives which exist out there, that newcomers to the startup scene can get confused. To top that up,  many of these programs have acronyms for names.

So here’s a list of government programs for startups and small businesses, as well as a small description of what they entail. A lot of these schemes favor companies with some or majority Singaporean ownership, but foreigners are not excluded.


The Action Community for Entrepreneurship (ACE) is a formerly government-led organization that promotes entrepreneurship in Singapore. While the keys to ACE were turned over to the private sector, the program will still be government-funded for the foreseeable future. One of its main programs is a startup grant which gives up to S$50,000 (US$38,000) to entrepreneurs, matched by their own funds.

There’re quite a lot of requirements attached to this though. While it’s not restricted to only tech startups, you’d need to be a first-time entrepreneur to apply, which means you must not have registered a business entity in Singapore before.


This initiative by the Infocomm Development Authority (IDA) aims to help startups secure contracts with bigger companies that would typically shun them due to the perceived unreliability of their products. After all, failure rates for startups are high. Companies that have been certified by this scheme include Kai Square, V-Key, and Tagit. There’s been a bit of a debate about whether startups should apply for this scheme due to the tedious process, but it’s clear that this is applicable for more mature tech companies.


A*STAR is a government research agency that oversees 18 R&D entities. While not a startup scheme per se, its scholars can provide a crucial source of talent for startups. After completing a two year stint at the A*STAR Research Institute, scholars can pick from a number of tracks, one of which is to work for a private sector company.


ESVF is a program run by the National Research Foundation (NRF). It partners with venture capital firms to invest in startups by matching them on a one-to-one basis. The scheme targets startups in the series A stage and above, and it plans to pump US$48 million into companies.



I.JAM is an initiative started by the Media Development Authority. It is a grant scheme that doles out government money to startups through government-appointed private sector incubators. The funds are given out typically in two tranches. First is a small round of up to S$50,000 (US$38,000). If all criteria are met, startups can potentially receive another S$200,000, half of which must be matched by a third-party. The i.JAM scheme, however, has been subjected to rigorous and heated debate about its effectiveness in boosting the startup ecosystem. But some of the incubators in the program, like NUS Enterprise and Crystal Horse Investments, are the real deal.


The LaunchPad, informally known as Block 71, is a startup cluster that could soon house up to 500 startups. The place is also home to investors, incubators, accelerators, and other startup support services. It is co-managed by industrial development agency JTC as well as ACE, which will be launching a physical concierge service at the LaunchPad to assist startups in setting up in Singapore.



While this course is not restricted to small companies, startups especially can benefit from knowledge about data science and analytics. This online-offline program by the Infocomm Development Authority of Singapore (IDA) is done in collaboration with Coursera. Demand appears to be strong as batch two, which commences next year, is fully booked.


While not exactly an initiative for startups, PIC offers huge benefits. It is a tax deduction and cash payout scheme for small and medium enterprises which are investing in productivity or technology. Many restaurants have used this to spend on e-menus and ordering systems. Startups are also using the money to pay for their staff’s laptops and other IT equipment.



The SSA is an initiative by SPRING Singapore, a government agency that assists Singapore enterprises. It is a funding scheme targeting niche areas like medtech and cleantech. This year, the government announced that up to S$60 million (US$46 million) will be put into medtech startups through the program. Half of that amount will come from the state.



SPRING SEEDS is another dollar-to-dollar co-funding scheme. It will match third-party investors up to S$1 million (US$770,000). The first round of contribution by SPRING SEEDS is usually capped at S$300,000 (US$232,000).


TECS is an initiative that funds R&D projects for early-stage startups, with the aim of developing technology that can be commercialized. The program is further split into two grants, depending on the maturity level of the technology. In total, a startup could get up to S$750,000 (US$579,000).


TIS is another initiative by the NRF, this time targeting early stage startups. Together with partner venture capital firms, it matches up to 85 percent of the VC’s investment, with a cap of S$500,000 (US$385,000) per company. The investor can have the option to buy back NRF’s stake in the company in three years.


Again, not something startup specific, but still helpful. Government agency WDA is sponsoring up to 90 percent of course fees for company employees who want to upgrade themselves at approved centers of learning. Some of these places include the Institute of Systems Science and Hyper Island.
Check out this list of venture capital firms situated in Singapore,some of which fall under the schemes mentioned here."




*Source: Tech in Asia

Monday, December 30, 2013

Gold on a short term bear..


It is expected that gold will begin its downhill trend and will probably see a breather when it reaches the 1090 to 1100 range... But before that, a first drop from 1200 to 1150 and a second from 1150 to 1090 range. With all the liquidation going around, it should not be a surprise. But the matters over at US and Europe is far from being solved. The US economy is seen to have improved.. though the figures are still far away from making a dent at US debt. Hence the keeping of the yellow metal or its counterpart the silver remains wise. At this point, gold is already heading south. It is recommended to buy more gold, if it moves downwards towards the 1150 range..

Sunday, December 22, 2013

Shares of IT companies mixed news..

Shares of some top internet companies are mixed ..
Amazon rose 0.9 percent, to $398.81.

eBay rose 1.2 percent, to $54.02.

Google rose 0.5 percent, to $1092.15.

LinkedIn Corp. fell 0.7 percent, to $217.50.

Yahoo rose 0.5 percent, to $40.40.

Zynga Inc. rose 0.5 percent, to $4.08.

 

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