Rikvin Pte Ltd

Singapore Company Registration Specialists

  • WhatsApp Us+65 8699 8821
  • Get a Quote Now


  • Home
  • Services
    • Incorporation
    • Corporate Secretary
    • Taxation
    • Transfer Pricing
    • Accounting
    • Immigration
    • HR Outsourcing
    • Business Advisory & Support
    • Switch to Rikvin
  • Learn
    • Incorporation
    • Work Visas
    • Taxation
    • Accounting
    • Compliance
    • Resources
    • Blogs
    • Infographics
    • Industry Guides
    • FAQs
  • Tools
    • Company Name Check
    • SSIC Codes Search
    • AGM Calculator
    • Tax Calculators
    • Personal Tax Calculator
    • Corporate Tax Calculator
    • Global Tax Calculator
    • Work Visas
    • PEP Assessment
    • More Free Tools
  • About
  • Contact
You are here: Home / Press Releases / Singapore May Increase Funding for Certain Technopreneurs

Singapore May Increase Funding for Certain Technopreneurs

Singapore Keen to Energize Technopreneur Scene

In a report on SGEntrepreneurs titled Singapore NRF Chief Assesses the Technology Incubation Scheme, Professor Low Teck Seng, CEO of National Research Foundation (NRF), shared some insights about the Technology Incubation Scheme (TIS) and technopreneurs.

The TIS is a National Framework for Innovation & Enterprise (NFIE) initiative of the National Research Foundation (NRF). S$360 million was earmarked for the NFIE programme over 5 years (2008 – 2012) to develop innovative entrepreneurship in institutes of higher learning (IHLs) i.e. universities and polytechnics. In turn, NFIE wants the eligible academic entrepreneurs to turn their R&D results into commercial products for the market place.

As part of the scheme, incubators are selected to provide an environment for the systematic nurturing of young companies before they are ready for venture capital funding. The scheme provides approved technology incubators 85% co-funding (up to S$500,000) in exchange for equity stake in the company. Co-investors then have the option to buy out NRF’s share of the company at the next round of financing i.e. within 3 years of investment.

Related Post: Is Singapore keen to energise the technopreneur schene?

As of March this year, the approved incubators to mentor high technopreneurs in Singapore include the following:

TIS Incubators Supporting sectors
Silicon Straits IDM & Engineering
Plug & Play Singapore Pte Ltd ICT
Small World Group Incubator Cleantech & Engineering (esp. advanced materials, optical technologies)
TechCube8, Get2Volume ICT (esp. B2B IT system) & Engineering (esp. electronics)
Clearbridge Accelerators Medtech, Engineering (esp. advanced materials)& ICT (esp. computational algorithms)
Red Dot Ventures IDM, ICT, Biotech, Medtech, Cleantech & Engineering
Wavemakers Labs, Jungle Ventures, Incuvest, Stream Global Incubators IDM & ICT
Golden Gate Ventures IDM
TNF Ventures IDM & ICT, Biotech, Medtech & Cleantech
The Biofactory Biotech & Medtech

The extensive list may be found via the NRF.

In the report, Professor Low said that NRF will explore increasing quantum amounts (up to S$850,000) for firms in the biotech, cleantech and other tech sectors that require high start up capital requirements.

He also acknowledged the challenge of hiring the right talent and that Singapore is not the cheapest place to hire top tier software engineering talent. He said though, that companies must prove that they have done their best to employ local talent. This is to align with the government’s goal of providing high value jobs for Singaporeans. In the event that incubatees cannot locate the right talent within Singapore, employing via the Singapore work visa would then be allowed.

Analysis by Singapore company registration specialist Rikvin shows that these insights dovetail the recently refined Singapore EntrePass scheme. On top of the focus on technopreneurs and R&D intensive enterprises, one of the new criteria to be fulfilled by applicants is the procurement of funding by a recognized third-party VC or business angel.

Commenting further, Mr. Satish Bakhda, Head of Operations at Rikvin said, “As our economy shifts its focus to encourage more innovation, R&D and technopreneurship, the recent changes to the EntrePass scheme reflect just that. On the domestic front, the TIS will provide support to high-potential entrepreneurs bred in Singapore’s academic institutions. On an international level, the refined EntrePass scheme will attract firms to relocate to Singapore and be a part of a growing high-tech sector.”

Rikvin Company Registration in Singapore
Rikvin Content

Rikvin’s content team includes in-house and freelance writers across the globe who contribute informative and trending articles to guide aspiring entrepreneurs in taking their business to the next level in Asia.

Singapore SMEs Set to Leverage Intellectual Property Assets for Funding
Singapore-Vietnam Economic Cooperation Set to Grow
InCorp GroupPrimeGlobal

Rikvin Pte Ltd

EA License No. 11C3030

36 Robinson Road,
#20-01 City House,
Singapore 068877

Company Registration

  • Company Incorporation
  • Subsidiary Registration
  • Branch Registration
  • Representative Office Registration
  • Offshore Company Registration

Immigration

  • Employment Pass Guide
  • ONE Pass Guide
  • Tech.Pass Guide
  • Singapore Work Visas
  • SG Immigration Options

Taxation

  • Corporate Tax Guide
  • Personal Tax Guide
  • Tax Filing Calendar
  • Singapore GST Guide
  • Transfer Pricing

Resources

  • Infographics
  • FAQs
  • Singapore Company Name Check
  • Income Tax Calculator
  • Incorporate Now

© 2025 Rikvin Pte Ltd (UEN 200708442E) An InCorp Group Company. All Rights Reserved.

Terms of Use | Privacy Policy

Sitemap | Terms of Use | Privacy Policy

© 2025 Rikvin Pte Ltd. UEN: 200708442E · All Rights Reserved.