| Funding Schemes NUS Enterprise has a range of different financial schemes to help technology start-ups to grow and develop. These schemes include: 1) Clean-Tech Incubator Grant Website: http://www.nus.edu.sg/nec/vs/csf/index.html The Singapore Economic Development Board (EDB), has set up the “Quick-Start” and “Fast-Track Environmental and Water Technologies (Fast-Tech)” Incubator Schemes. Companies who wish to apply for funding under the incentives are required to be referred by a designated 3rd party incubator approved by EDB. NUS Enterprise is Singapore’s first integrated clean-tech incubator which has been approved by EDB to evaluate and screen projects for both schemes. The support encompasses a grant of up to 85% of qualifying costs for approved projects, capped at a maximum of S$500,000 per project over a period of 2 years. 2) Young Entrepreneur Scheme for Start-Ups (YES!) Startups Website: http://www.nus.edu.sg/nec/vs/yes/index.html
The YES! Startups was launched on 18 November 2008 with the objective of nurturing and encouraging youths to be enterprising and innovative through ‘hands-on’ entrepreneurship learning. Through YES! Startups, SPRING will match $4 to every $1 raised by the applicant through self-funding, schools or any other third-party sources. The maximum amount of grant provided under YES! Startups is $50,000. NUS Enterprise is one of the higher Institutes of Learning (IHL) to support SPRING in this scheme, by offering of our technology, incubation and mentoring services or matching funding.
3) Micro-Funding Scheme (MFS) Website: http://www.nus.edu.sg/nec/etpmdafund.html
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 in 2007. Under this initiative, individuals and start-ups with breakthrough ideas that can be developed into innovative products and services, will be matched with appropriate mentor support and funding, to bring about their realization. NUS Enterprise has been appointed as one of the mentors to administer the i.JAM Micro-Funding Scheme (MFS), on behalf of MDA. Through this Micro-funding scheme, young start-ups or individuals can seed their innovative technology ideas with a maximum of S$55 000, thus paving the way to become entrepreneurs in the high-growth IDM space.
4) NUS Startup Fund (NSF) Website: http://www.nus.edu.sg/nec/vs/vc/nsf.html
The NUS Startup Fund (NSF) is set up to provide seed funding for NUS spin-off and start-up companies, and assist them so that they become attractive candidates for significant external funding. By helping the spin-off and start-up companies, NUS promotes the spirit of entrepreneurship. The amount of funding is subject to the scope and nature of the business proposal, each successful business proposal may be granted a seed funding up to S$200K.
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