Website Funding

How to get initial funding for your web site?

Singapore Government provide a few assistance programme:

Technology Innovation Programme (TIP)

The Technology Innovation Programme (TIP) provides technology consultancy services, expert help and funding support for local SMEs through the following means :

  1. identifying the right technology platforms
  2. finding experts who will work with you on research and development projects
  3. and acquiring the information, advice and partners you need to make the best possible use of technology
  4. A range of co-funding and support schemes are available that will help you meet the costs of technology innovation.

Criteria
You may apply for TIP if your company meets these criteria :

  • registered or incorporated in Singapore
  • at least 30% of your shareholding is local
  • your company’s group fixed assets are below $15 million*
  • you have no more than 200 employees (for non-manufacturing companies)*
* Computed on a group basis i.e. checking up to three levels for corporate shareholders holding 20% or more of the total shareholding in the company and one level down, where the company holds more than 50% of the shareholding in a subsidiary company.

How to apply for TIP – Projects

  1. Before you apply
  2. Ensure that you understand the qualification guidelines.
  3. Contact SPRING to discuss your project. You will need to work closely with SPRING to ensure your project meet the TIP-Projects guidelines.
  4. Finalise your project with SPRING. If your project and proposal qualify for TIP-Projects, you will be given the necessary application forms.
  5. Submit the application form to SPRING.

Upon successful application
  1. Receive a Letter of Offer from SPRING.
  2. Accept the Letter of Offer and start on your project.
  3. Keep proper financial records. E.g. expenses, invoices, receipts relating to the project.
  4. Keep proper project records. E.g. scope, timeline, deliverables, progress reports, project sign-offs, and evaluation reports.
  5. Pay the consultant first. The grant is given on a reimbursement basis. You will need to pay the consultant first.

Claiming for funds
  1. Submit your claim form with your financial and project records. The procedure for claims will be provided by SPRING.
  2. Wait for SPRING to approve your claims and reimburse you. SPRING will need to audit your claims