Enterprise Singapore

Enterprise Singapore is the government agency championing enterprise development since 2018. It supports companies to build, innovate, and globalise.
The growth of Singapore as a hub for global trading and start-ups is part of its mission.

On 1 April 2018, International Enterprise Singapore and SPRING came together as a single agency to form Enterprise Singapore.

500 Ignition Singapore Programme

In May 2021, global VC firm 500 Startups teamed up with Enterprise Singapore to launch a new virtual programme called 500 Ignition Singapore.
This initiative helps emerging startups in Singapore grow from scratch by assisting them to:

• Assemble founding teams
• Validate potential opportunities
• Create a product roadmap and business plan

Set to run for 12 weeks, the programme connects selected startups with industry experts for mentorship, helps them find the right co-founders, and provides shared resources to support long-term growth.

Key Mentors:

• Leesa Soulodre – General Partner, R31Ventures
• Jin Tanaka – Co-founder and Managing Partner, Shogun Capital
• Jaspreet S Dua – Entrepreneur-in-Residence, 500 Startups
• Mimi Aminah Wan Nordin – CEO, Constellation Ventures
• Anurag Rastogi – Member of the Board, FinCode
• Garry Huang – Entrepreneur-in-Residence, 500 Startups

The programme will take place in three phases.

Startup SG Founder Programme

Another popular initiative under Enterprise Singapore is the Startup SG Founder programme. It provides:

• Mentorship
• Start-up capital grants of S$20,000 – S$50,000 to first-time entrepreneurs with innovative business ideas

Start-ups are required to raise and commit S$10,000 as a co-matching fund to the grant.

Enterprise Singapore has appointed Accredited Mentor Partners (AMPs) who will identify qualifying applicants based on:

• Uniqueness of business concept
• Feasibility of business model
• Strength of management team
• Potential market value

Upon successful application, the AMP assists start-ups with advice, learning programmes, and networking contacts.

Singapore Economic Development Board (EDB)

The Singapore Economic Development Board (EDB) is another government agency involved in investment promotion and industry development in the manufacturing and internationally tradeable services sectors.
Industries under its purview account for more than one-third of Singapore’s annual GDP.

Besides facilitating investments, EDB supports Singapore’s companies to:

• Transform operations and boost productivity
• Generate growth in adjacent and disruptive areas
• Grow new businesses out of Singapore

Tax Advantages

• The headline tax rate for foreign-sourced income is a minimum of 15%.
• Companies pay the higher rate between Singapore and their resident country.
• With Singapore’s resident corporate income tax of 17%, which is lower than most countries globally, and further tax reliefs, it is more tax-efficient for companies to register in Singapore.

Ease of Doing Business

It’s no surprise that Singapore consistently ranks at the top of global ease of doing business indices, thanks to:

• Clear and consistent policies
• A robust judicial system
• Being an acknowledged arbitration centre
• Low levels of corruption