10 Jun 2020
Guidance for Special Situation Fund for Startups (SSFS) application
1. What is SSFS?
The SSFS is a time limited scheme to support early- to late-stage promising startups from diverse sectors via convertible note, which may have developed innovations and technologies that can contribute to Singapore’s national priorities (such as those in the Industry Transformation Map sectors, or those creating good jobs for our population). Applicants will be assessed on a case-by-case basis.
2. How do I know if I am eligible for funding?
Please answer all the following questions:
a. Company is a private company incorporated in Singapore for not more than 10 years.
b. Company is developing/ producing/ and commercializing innovative technologies or services designed for scale and high growth.
c. Company has secured paying customers and partners and demonstrated a commercially scalable business model of at least 20% annual revenue growth pre-COVID-19. For pre revenue companies, Company possesses either strong pre-clinical data (biotech companies), intellectual property, or technological know-how that cannot be replicated.
d. Investors (existing/new) are committed and prepared to fund 50% of the convertible note.
If you have answered ‘Yes’ to all the above, please download and send the completed SSFS Application form to email@example.com.