Best Startup Grants in Singapore: Top 3 Government Support Schemes
Singapore is one of Asia’s best startup ecosystems thanks to a comprehensive suite of government grants designed to support businesses at different stages — from tech adoption to global expansion. Below are three grants every startup founder should consider.
Productivity Solutions Grant (PSG)
The Productivity Solutions Grant (PSG) helps Singapore SMEs adopt digital tools and solutions that improve productivity and streamline operations. This grant co-funds up to 50% of qualifying costs, making it easier for early-stage startups to invest in technology without heavy upfront expenditure. Eligible solutions range from accounting software and customer relationship systems to industry-specific automation tools.
Who it’s for
- Registered Singapore businesses with at least 30% local shareholding
- Companies adopting pre-approved IT tools and solutions to enhance workflows
How it helps
- Reduces the cost of software implementation
- Speeds up productivity improvements
- Supports digitalisation across multiple business functions
Grant Tips
If you’re exploring how to maximise PSG for financial systems, find WLP — a certified Xero partner — to help your startup adopt cloud accounting under PSG funding. Our services can guide you through setup, training, and documentation to ensure your software and grant claims are aligned.
Market Readiness Assistance (MRA) Grant
For Singapore startups ready to expand into overseas markets, the Market Readiness Assistance (MRA) grant offers strong support. It subsidises up to 50% of eligible costs (capped at S$100,000 per new market), helping companies reduce risk when testing new markets, engaging in business development, or launching marketing activities abroad.
Who it’s for
- Singapore-registered businesses with growth ambitions outside Singapore
- Startups planning activities like trade shows, overseas promotions, market research, or setting up local operations
How it helps
- Lowers the financial barriers to international expansion
- Offers a structured way to enter and test regional markets
- Strengthens credibility with partners and customers abroad
Startup SG Founder Grant
Another essential startup grant is the Startup SG Founder initiative, specially designed for first-time founders. This grant combines funding with mentorship to help founders validate ideas and get their business off the ground.
Features
- Funding support (often up to S$50,000) to cover early startup costs
- Access to mentoring programmes that can help refine business models
- Strong fit for early validation and go-to-market strategy development
Eligibility
- Must be a Singapore-registered company
- Typically requires at least 30% local ownership
- Designed for first-time founders with commercially promising ideas
Final Thoughts
Understanding the right startup grants in Singapore can dramatically lower costs and accelerate your company’s growth trajectory. The Productivity Solutions Grant (PSG) empowers you to upgrade systems affordably, while the Market Readiness Assistance (MRA) grant helps you take your business global. Add to that targeted support like the Startup SG Founder grant, and your startup is well-placed to innovate, scale, and succeed.
Need help navigating grant funding or implementing productivity tools like cloud accounting? Find WLP — we’re experienced in aligning tech adoption with PSG funding and can support smooth setup and documentation so your startup remains compliant and grant-ready.