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Venture, Innovation and Entrepreneurship (VIE) FAQ

21 result(s)
Judging Criteria

  1. Commercialisation Potential

  2. Technical Innovation

  3. Capability of the Management Team

  4. Effective Project Outcomes

Eligibility

  1. SUTD IP should form the core of the business

  2. The project should not be or have been the main focus of an incorporated company.

  3. Principal Investigator leading the team should be a faculty member. Team members could include students/ alumni/ researchers and/or external parties.

Application

Teams will have to complete the Create4Good Innovation Fund program held in September of every year. Upon completion, the team will be notified of their outcome for the grant after the program.

Terms and Conditions
  1. The grant shall be disbursed over a 12-month period.
  2. There will be no disbursement after 12 months.
  3. The grant disbursed is subject to the completion of progress milestones stipulated in the letter of award.
  4. The project should not have received more than S$50,000 in funding.
  5. To be considered an SUTD affiliate, members would have to have attended a prior entrepreneurship programme or event organised by SUTD VIE.
  6. SUTD shall take into consideration the individual’s commitment to the programme.
Judging Criteria
  1. Financial Sustainability
  2. Problem-Solution Fit
  3. Addresses UN SDG 10: Reduced Inequalities
Eligibility

Teams should complete the Create4Good Innovation Fund programme to satisfaction and be shortlisted by a panel to receive the funding.

 

Other eligibility criteria include:

  1. Have at least 1 cofounding member with SUTD affiliation (current students, alumnus, researchers, past-program participants)
  2. Team of between 3 and 5 members
  3. Have not incorporated the project but has the intention to do so within the near future.
Application
  • We accept applications year-round.
  • Share with us your ideas at entrepreneurship@sutd.edu.sg and we will get back to you.
Terms and Conditions
  1. Not have received funding from another government organisation (for the same business idea)
  2. Not have received the Startup SG Founder grant before
  3. Have minimum 51% of issued shares are owned by Singapore Citizen / Permanent Resident
  4. Invest a co-matching amount of S$20,000 as paid-up capital on ACRA (Have at least $10,000 as paid-up capital on ACRA at the point of application to EnterpriseSG.
Judging Criteria
  1. Differentiated Business – How novel the idea / product / business model / process is, compared to what is available in the market.
  2. Feasibility of Business – Whether the revenue model is sustainable.
  3. Management Team – Whether the founding team demonstrate the passion and entrepreneurial spirit, and have undergone entrepreneurship training for the relevant technical and business skill to execute the idea.
  4. Potential Market Opportunity – How large the size of the target market is, and how the company intends to reach out to its customers segments.
Eligibility

At least 2 SC/PR applicants who

  • Are first-time founders (i.e. have no prior Private Limited entity on ACRA).
  • Are key decision makers and contribute meaningfully to the company.
  • Are not employed externally and who are able to commit full time to the company.
  • External employment is where employers, contribute CPF for their employees (apart from the entity recipient of the Startup SG Founder grant). Full-time National Service is considered employment.
  • Full time commitment is not fulfilled if applicant is engaged in studies or part-time work (i.e. Students with ongoing academic commitments are not considered full-time committed to the company).
  • Have undergone entrepreneurship training.
  • Hold equity in the company, with a minimum of 30% collectively.