Reviewing Requirement in Startup SG Founder Programme for at Least One First-time Founder with No Prior Registered Private Limited Entity

Mr Ng Shi Xuan asked the Minister for Trade and Industry (Energy and Industry) in respect of the Startup SG Founder programme, whether the Ministry will review the requirements of having at least one first-time founder with no prior private limited entity registered with ACRA and for the private limited entity to be registered in Singapore for less than six months at the time of application.

The Startup SG Founder (SSGF) scheme supports first-time founders who may lack the experience, networks and resources to pursue entrepreneurship and start innovative businesses. To achieve this objective, each SSGF application must be submitted by two applicants, of whom the first must not have previously registered a private limited entity with Accounting and Corporate Regulatory Authority. In addition, the private limited entity used for the application must have been registered in Singapore for less than six months at the time of application.

Previously, both applicants from the registered entity had to be first-time founders. Enterprise Singapore refined the criterion in 2024 so that only the first applicant must be a first-time founder. This allows first-time founders to benefit from working with experienced founders and tapping on their expertise and networks. We have continued with this arrangement, as it has helped create a more robust startup ecosystem in Singapore.