To promote entrepreneurship and help aspiring businesses, the Action for Community Enterprise (ACE) will be seeding 500 startups through funding, mentorship and networks.

Under the ACE Startups Programme, first-time entrepreneurs can receive up to S$50,000 to start their business. An estimated S$25 million pool of funds is expected to be available for successful applicants.

ACE Startups will:

• replace the Young Entrepreneurs Scheme for Startups (YES! Startups)
• no longer enforce the 26-year old age limit
• provide a S$50,000 one-off grant
• require entrepreneurs to match the fund at a 70:30 ratio
• link startups to critical businesses and networks

The evaluation criterion includes:

• differentiated business products
• feasibility of the business model
• potential market opportunity
• management team

Read more on ACE Startups Applications at SPRING.

For more information, please contact:
Ng Chooi Li (Ms)
Manager, Corporate Communications
SPRING Singapore
Direct: (+65) 6279 1812
Mobile: (+65) 9634 4425
Email: ng_chooi_li@spring.gov.sg