What is YES! Startups@RP?
YES! Startups stands for “Young Entrepreneurs Scheme for
Startups” is a seed funding scheme offered by SPRING (www.spring.gov.sg)
for all Institutes of Higher Learning (IHLs).
A 4:1 matching grant will be injected into the student
venture up to a maximum amount of S$50,000.
What does the ETDF stand for?
The ETDF stands for “Entrepreneurial Talent Development Fund”.
SPRING has rebranded the ETDF to YES! Startups. This was
announced during the launch on 18 November 2008.
What can the grant be used for?
Yes! Startups grant can be used as working capital to set up and
run your business.
What is the objective of the YES! Startups scheme?
The scheme aims to
nurture and encourage youths to be enterprising and
innovative through ‘hands-on’ entrepreneurship learning.
Who can apply?
Singapore citizen or Permanent Resident, aged 26 years or below on
the date of application.
Parental consent must be sought for those below 18 years old
Incorporation of a private limited company (upon approval) with its
business activities wholly or mainly based in Singapore.
What are the Evaluation Criteria for this funding?
Innovativeness of the
How different/novel the idea is against what is already
available in the market?
Feasibility of the
Is the business model viable and potentially sustainable?
Will the market demand and buy such an item?
7. If I have a good idea but do not know how to write a good
business plan, where can I get help?
· Business plans workshops are conducted regularly in RP to help
equip students with good business ideas with the skillsets to
write a good business plan to apply for funding successfully.
You can contact Ms Elena Chan at elena_chan@rp,sg for the
8. Who will evaluate my idea and business plan?
· There will be 2 main approval committees in RP. CIE staff will
assist you in developing your business for submission
to the 2 committees below. Endorsement will also be sought from
Principal and CEO of RP.
CIE Review Committee Team:
Assistant Director (Academic)
Assistant Director (Capability Development)
TDC Manager (Youth Entrepreneurship)
Head (Entrepreneurial Development)
RP Approval Committee:
9. When would I need to submit the business plan?
You can contact Ms Elena Chan at elena_chan@rp,sg for more
details on the workshop as well as submission deadline/s.
10. Can I choose to submit my business plan directly to SPRING
To increase the chances of obtaining the funding, you are
strongly encouraged to submit your business plan through RP.
However, you can also choose to submit your business plan
separately to SPRING Singapore all year round.
11. What is the address of the website link?
12. How does the funding scheme work?
SPRING will fund 80% of the fund.
Students are required to
raise the remaining 20% either through self-funding, funding
from IHLs or 3rd party funding sources.
The new scheme will be administrated centrally by SPRING.
Student ventures will be chosen for funding support via a
central selection committee, consisting of the public and
private sector individuals selected by SPRING.
13. What support will RP provide in my startup?
Possible funding models are as seen below.
Funding from Student
Student fund full 20% of cash required for the start up.
NIL funding from RP. RP to support in either grant of IP
and/or provision of incubator services for start up. In
return, RP will get an equity stake in the company.
Student only prepared to fund up to 10% of cash required
for the start up.
RP to fund the remainder 10% and could possibly include
grant of IP and/or provision of incubator services for
start up. In return, RP will get an equity stake in the
Student not prepared to put in any money in the start
RP will not participate in the start up. Project will
be referred to SPRING.
14. Who can I approach to know more on this funding?
You can drop an email to either of the below people listed
Go back to Home
For any enquiries,