25 Mar '11, 12pm

Sowing the seeds for Singapore's start-ups

Sowing the seeds for Singapore's start-ups

A total of $10.1 million was pumped into these 15 firms through Spring Singapore's Start-up Enterprise Development Scheme (Seeds). -- PHOTO: SPRING SINGAPORE A SCHEME that gives budding entrepreneurs a vital funding kick-start helped 15 local start-ups move closer to realising their bold ambitions in 2010. A total of $10.1 million was pumped into these 15 firms through Spring Singapore's Start-up Enterprise Development Scheme (Seeds). That brings to $63 million, the sum invested in 185 fledgling firms to have won funding through Seeds, since it was introduced in 2001. And of these start-ups, 30 have recorded more than $1 million in revenue over the last two years. Spring Singapore deputy chief executive Tan Kai Hoe, said the latest figures proved that the entrepreneurial scene here is 'alive and well'. 'Some 53,400 new business entities were started in 2010, a six per cent...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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