Asia Centre of Technologies Incubation Assistance Program
Asia Centre of Technologies A-Cot platform aim to provide assistance towards a thriving start-up ecosystem, to get ahead of the fierce market competition for talented entrepreneurs and is categorised under presently 2 assistance:
It provides mentorship and start-up capital assistance to qualify entrepreneurs with innovative business ideas.
Under this, ACOT matches $1 for every $1 raised by the entrepreneur capped at S$10,000.00 (Singapore Dollar Ten Thousand) and will appoint Industrial Mentor or Partners whose job is to identify qualifying applicants based on the uniqueness of business concept, the feasibility of business model, strength of management team, and potential market value.
ACOT will be allocated with founder’s number of share less 20%.
Founder/s raised S$10,000 and will be issued with 10,000 shares at S$1/share
ACOT matched S$10,000 and will be issued with 10,000 – 20% = 8,000 shares
It is aimed at providing early-stage funding to companies for the commercialisation of proprietary technology and includes both Proof-of-Concept (POC) and Proof-of-Value (POV) grants depending on the technology’s developmental stage.
Do note that this is a competitive assistance, which tech start-ups can use to fast-track the development of their proprietary solutions and generate a scalable business model.
Co-investment by ACOT or interested third party individual or corporate investors are prepared to invest at least $20,000 each, and are able to contribute to the start-up’s growth via management experience, relevant business contacts and necessary technical expertise.
Applicants will need to complete the A-cot Application Form and submit for ACOT consideration. If the ACOT assesses that the applicant has met the eligibility and evaluation criteria, normally within 2 weeks, we will assign Better Advisor and he/she will recommend the appropriate milestones for disbursement of assisting fund in accordance to the agreed business development plan.
The assistance is open to all Singaporeans/Permanent Residents who are innovating entrepreneurs. In addition, the applicant would need to adhere to the following conditions at the time of application:
- Applicant(s) must hold or propose to hold at least 30% equity in the underlying company;
- The company must have at least 51% of local shareholding.
Approved applicants must dedicate a reasonable amount of their time on the business and must be a key decision maker in the company.
*Please note that a key criterion for assessment is on how different or novel the idea/product/service/business model/process is compared to what is available in the market.
This application form will take approximately 10min to complete.
Information to prepare:
- Applicant(s)’s information
- Company’s information
- Company ACRA’s Business Profile (.PDF format)