Government Funding and Assistance Schemes Available in Singapore: Technology and Innovation, Part II

Government Funding and Assistance Schemes Available in Singapore: Technology and Innovation, Part II

A close up of a micro-chip board

In Part II of this series, we will look at the resources offered by A*STAR.

 

Working with A*STAR

A*ccelerate acts as A*STAR’s commercialisation arm, tasked with commercialising A*STAR research outcomes, thus driving innovation and economic transformation. SMEs and entrepreneurs working with A*ccelerate are able to obtain (1) IP licences, (2) Gap Funding for A*STAR technologies, and (3) Spin-off and Investment Services that deploy technology-based businesses.

 

A*STAR Gap Funding

A*STAR partners with Private Enterprises at Early Development Stages to identify up-and-coming technologies with a high commercial potential. Gap funding is provided if the Company is:

  • A potential licensee taking up A*STAR technologies;
  • These A*STAR technologies require further research/development to become commercially ready;
  • The Potential licensee is willing to co-develop with A*STAR.

 

A*StartCentral (ASC)

A*StartCentral assists start-ups with a suite of programmes and services alongside its community of partners. It also offers over 10,000 square feet of facilities, including wet and prototyping labs. ASC facilitates conversations and collaborations between start-ups, researchers, investors, mentors and corporate partners through its vast network, events and activities. It also offers MNCs, SMEs or start-ups, access to cutting-edge technology created by over 4,500 researchers, scientists and engineers from 21 different Research Institutes, Centres and Consortia.

 

Investment and Spin-off Services

A*STAR assists in raising capital and term sheet negotiation for founders and investors to create subscription or shareholder agreements. A*STAR also supports start-ups with fund-raising guidance, business-plan coaching and mentoring strategies.

 

A*STAR Tech Access

A*STAR Tech Access grants access to SMEs for the use of advanced equipment to prototype new products, qualify new processes and test out new applications. It also provides user training, and consultancy to optimise equipment effectiveness for the equipment. Eligible SMEs can gain assistance of up to 50% of qualifying costs from Enterprise Singapore. The equipment includes inspection tools, robotics, precision manufacturing and semi-conductor processing.

 

To qualify, companies must:

  • Be Singapore registered;
  • Have a minimum of 30% local shareholding; and
  • Have a group annual sales turnover of not more than S$100 million; or
  • Have a group employment size of not more than 200 workers.

 

A*STAR Head Start Programme

A*STAR’s Head Start Programme offers up to 36 months of royalty-free exclusive licences to SMEs entering a Research Collaboration. The exclusive use of the IP can be further extended through A*ccelerate.

 

A*STAR Patent Library

In addition to the Tech Depot, A*STAR offers more than 1,200 patent families or technologies. SMEs can access patents through the purchase of exclusive or non-exclusive licences. The library can be browsed here. A*STAR’s Patents also include standardised terms catered to respective industries, to help reduce lengthy negotiations.

 

CONCLUSION

This brief overview of the Government Assistance is part of A*STAR’s efforts to promote Singapore as a regional and international Tech-Hub. In the final part of our series, we will explore the remaining support schemes, namely: PACT; Intellectual Property Intermediary; Open Innovation Platform (OIP); and Intellectual Property Office of Singapore Business and Legal Clinics. Stay tuned for more information on your businesses’ eligibility for these schemes.

At Silvester Legal, we work extensively with start-ups to understand our clients’ needs. We want our clients to take full advantage of the opportunities available to them as they pursue their business ventures.

 

Disclaimer: The materials prepared here are for general information purposes only to inform you about Silvester Legal LLC, our services and related matters. The information presented is not legal advice and is not to be acted on as such.

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