The Business Angel Network (Southeast Asia) (BANSEA) was established in Singapore in 2001 by a group of Singapore-based angel investors, with loose network connections to investor groups in Thailand, Malaysia, Vietnam and Indonesia. Inspired by the professionalism of angel groups like the Band of Angels in Silicon Valley and the Tech Coast Angels in Southern California, BANSEA’s vision is to foster the development of a vibrant, professional angel investment community in Singapore by providing a platform for knowledge-sharing and deal-syndication among investors as well as a platform for matching start-up deals with investors.
BANSEA introduced a Start-up Mentorship Program, whereby a pool of BANSEA chartered members offer to provide face-to-face mentoring service to start-up entrepreneurs in return for an honorarium. In addition, BANSEA also organizes training workshops for entrepreneurs and angel investment forums for members. BANSEA also participates in various activities fostering the development of the entrepreneurial ecosystem in Singapore, with members serving as judges in various business plan competitions and providing inputs to government policy making.
Business Angel Funds
In encouraging experienced angel investing, SPRING SEEDS Capital works closely with three pre-approved private business angel funds to co-invest and nurture growth-oriented, innovative start-ups. Similar to the Startup Enterprise Development Scheme (“SEEDS”), this is an equity-based co-financing option for Singapore-based early-stage companies.
If the start-up is able to obtain investment interest and commitment from any of the three business angel funds, SPRING SEEDS Capital could potentially match the intended amount (dollar-for-dollar) of up to a maximum of S$1.5 million. Both SPRING SEEDS Capital and the business angel group will take equity stakes in the company in proportion to their investments.
SPRING Startup Enterprise Development Scheme (SPRING SEEDS)
SPRING SEEDS Capital Pte Ltd (SPRING SEEDS Capital), a wholly owned subsidiary of SPRING Singapore, manages the SEEDS investment fund.
The SPRING Start-up Enterprise Development Scheme (SPRING SEEDS) is an equity-based co-financing option for Singapore-based start-ups creating innovative products and/or processes, possessing intellectual content and strong growth potential across international markets.
SPRING SEEDS Capital co-invests into commercially viable local start-ups, with differentiated value proposition and matches dollar-for-dollar to third-party investor(s), up to $1million, upon investment approval.
To date, SPRING SEEDS Capital has invested in various growth sectors such as science and technology, information communications technology and business services space.
Technology Enterprise Commercialisation Scheme (TECS)
SPRING is committed to the growth and development of innovative and competitive enterprises. As part of our efforts to develop a new breed of technologically innovative global enterprises, the Technology Enterprise Commercialisation Scheme (TECS) aims to catalyse the formation and growth of such start-ups based on strong technology Intellectual Property and a scalable business model.
We recognise the risks involved in the R&D of entirely new, innovative and potentially market-changing technology IP. Hence, through the TECS, SPRING provides early-stage funding to successful applicants to fund such R&D efforts towards the commercialisation of proprietary technology ideas.
The TECS is a competitive grant in which proposals are ranked based on the evaluation of both technical and commercial merits by a team of reviewers, and the best are funded. Submissions can be made through this TECS portal anytime, throughout the year. Proposals are reviewed every two months or earlier.
Young Entrepreneurs Scheme for Start-ups (YES! Start-ups)
This scheme provides funding support of up to S$50,000 for youths to set up their innovative startup. SPRING matches S$4 for every S$1 that you raise through self-funding, schools or third-party sources, the grant is capped at S$50,000. For example, if you apply for a S$40,000 grant, you must match this with a S$10,000 investment.
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