Securing funding is one of the biggest challenges for deep tech startups. In Singapore, however, several government initiatives and grants specifically target innovation-driven projects. This article outlines the major programs, offers tips for putting together a strong application, and shares personal notes from the author on what it really takes to succeed.
1. Why Government Grants Matter for Deep Tech
Deep tech ventures typically involve substantial research, development, and prototyping—often requiring specialized talent, equipment, and longer timelines. Traditional investors may hesitate due to higher perceived risks and a slower payoff. Government grants help bridge that gap by:
- Reducing Financial Risk: You can offset high R&D costs through non-dilutive funding.
- Validating Your Project: A government seal of approval signals credibility to future investors or partners.
- Boosting Ecosystem Support: Grants often come with mentorship, networking, or training programs that accelerate growth.
Personal Note: “It’s extremely important to show any government program how your project benefits Singapore—jobs, technology leadership, economic value, etc. They want to see a clear local impact.”
2. Top Government Grants for Deep Tech Projects
2.1 Startup SG Founder
What It Is
A program under Enterprise Singapore that helps first-time founders get their ventures off the ground. While it’s not exclusively for deep tech, it covers innovative ideas with high growth potential.
Key Features
- Grant amount up to S$50,000 (with 1:1 matching by founders)
- Mentorship from a government-appointed partner (e.g., incubator, venture builder)
Eligibility
- At least 2 Singapore Citizen/PR founders with minimum 30% equity
- First-time entrepreneurs as key decision-makers
- Original business idea with strong innovation and market potential
Application Tip: “They want evidence of your commitment—like personal funds, validated market interest, and a concise, well-structured pitch deck.”
2.2 Enterprise Development Grant (EDG)
What It Is
The Enterprise Development Grant (EDG) supports Singapore-based businesses looking to upgrade capabilities, innovate, and venture overseas. Deep tech projects often qualify under its ‘Innovation and Productivity’ pillar.
Key Features
- Covers up to 70% of qualifying costs (for SMEs; up to 50% for non-SMEs)
- Funds consultancy fees, software/equipment, and internal manpower costs
Eligibility
- Registered and operating in Singapore
- Minimum 30% local shareholding
- Financially stable enough to start and complete the project
Personal Note: “EDG applications are lengthy and must be well done. They want to see a lot of proof of costs—quotes, invoices, vendor proposals. Don’t try to fudge the numbers or they’ll reject your application.”
2.3 SGInnovate Investments & Grants
What It Is
SGInnovate focuses on deep tech areas like AI, biotech, robotics, and quantum computing. It offers both direct investments and grant-like support and has a strong network in Singapore’s innovation ecosystem.
Key Features
- Equity investments in promising deep tech startups
- Access to mentorship, labs, and corporate partners
Eligibility
- Must demonstrate unique technological innovation
- Potential to scale globally
- Based in or strongly connected to Singapore’s startup scene
Application Tip: “SGInnovate looks for world-class tech with a clear commercialization path. Highlight your R&D roadmap and how it benefits Singapore—through IP creation, job growth, or contributing to the local tech ecosystem.”
2.4 Research, Innovation and Enterprise (RIE) Schemes
What It Is
These are various research and development initiatives under Singapore’s national RIE plans. Some are run by agencies like the National Research Foundation (NRF), A*STAR, or EDB.
Key Features
- Large-scale funding for mid-to-long-term R&D
- Often tied to strategic sectors (e.g., advanced manufacturing, biomedical sciences, AI)
Eligibility
- Varies by program; may require partnerships with local research institutions
- Must show high-impact research with commercial potential
Personal Note: “Applications need detailed R&D timelines, patent plans, and feasibility studies. If you’re collaborating with a research institute, start collecting documents early.”
2.5 Productivity Solutions Grant (PSG)
While PSG primarily supports adopting productivity solutions (e.g., automation tools, CRM software), deep tech startups can leverage it for certain pre-approved tech solutions to streamline operations.
Key Features
- Up to 70% funding support for adopting pre-scoped IT solutions or equipment
- Faster application process compared to other grants
Eligibility
- Registered and operating in Singapore
- Minimum 30% local shareholding
- Tech solution/equipment must be on the PSG pre-approved list
Application Tip: “Though not purely for R&D, PSG can help reduce operational costs, leaving more resources for your deep tech development.”
3. How to Prepare a Strong Grant Application
- Show the Benefit to Singapore
- Emphasize how your project creates local jobs, advances tech leadership, or bolsters the economy.
- Highlight collaborations with universities, labs, or local SMEs.
- Be Thorough With Documentation
- Expect requests for financial statements, cost breakdowns, and milestones.
- Provide real vendor quotes, receipts, or proposals—agencies will verify them.
- Craft a Clear Value Proposition
- Explain what sets your technology apart.
- Back up your claims with data or case studies proving market need.
- Focus on Feasibility
- Offer a realistic timeline and budget.
- Show you have the right team, resources, and technical plan.
- Don’t Underestimate the Time & Effort
- Applications can take weeks (or months). Factor in time for revisions and responses to agency queries.
Personal Note: “Mostly they want to see proof of costs—so don’t try to bullshit them. If anything seems off, they’ll reject you right away.”
4. Application Process: Step by Step
- Identify the Right Grant
- Match your project scope with the relevant program (e.g., EDG vs. Startup SG Founder).
- If unsure, contact Enterprise Singapore or SGInnovate for guidance.
- Gather Documentation
- Prepare your business plan, technical specs, cost spreadsheets, vendor quotes, and team resumes.
- Include any MOUs or letters of intent from partners.
- Fill Out Application Forms
- Carefully address each question. Missing info can cause major delays.
- Submit & Await Response
- Expect the process to take a few weeks to a few months.
- Respond promptly if agencies request more details or clarification.
- Grant Approval & Disbursement
- You’ll get a Letter of Offer specifying timelines and deliverables.
- Funds are usually disbursed in milestones tied to specific achievements.
5. Success Stories (Brief Examples)
- AI Startup Uses EDG
A local AI company secured EDG funding to expand its data science team and developed a proprietary machine learning platform, later attracting large corporate clients. - Biotech Venture with SGInnovate
A biotech firm partnered with A*STAR for R&D and co-investment from SGInnovate, enabling them to pilot a new medical device and secure international interest.
6. Common Pitfalls to Avoid
- Underestimating Required Documentation: Missing quotes, incomplete spreadsheets, or vague timelines can derail your application.
- Weak Market Validation: If you can’t show real user interest, agencies may see your project as too risky.
- Overpromising: Inflated projections or unrealistic milestones damage credibility.
- No Clear Local Impact: Grants hinge on how your startup benefits Singapore—be explicit about that.
Conclusion
For deep tech entrepreneurs in Singapore, government grants can be a game-changer—covering crucial R&D costs and boosting credibility. From Startup SG Founder to EDG, SGInnovate, and PSG, these programs provide substantial support if you present a compelling solution that aligns with national goals.
Author’s Final Note: “Applications can be lengthy. Show exactly how your project benefits Singapore and offer rock-solid proof of your costs. Honesty and clarity go a long way in securing the funds you need.”
By investing the time to prepare a thorough application—demonstrating local impact, feasibility, and real-world demand—you’ll greatly improve your odds of landing valuable grant support for your deep tech venture. Good luck!