27 Mar '11, 3am

More funds on tap for start-ups

More funds on tap for start-ups

Mr Shannon Lim (left) and Ms Ng Cai Lin, the founders of Artyii, received funding from government schemes. Their business involves selling original Asian artwork online. -- ST PHOTO: NEO XIAOBIN THIS year seems promising for entrepreneurs, with more funds on tap to give start-up companies a boost. Last year, 53,400 new businesses were started, a 6 per cent increase from 2009. Budding start-ups were also lent a helping hand by two new funds launched last year: one by the Government, the other by telecommunications company SingTel. The Technology Incubation Scheme (TIS) of the National Research Foundation (NRF) has funded at least 21 start-ups since it started in January last year. The other fund started by SingTel - under its venture capital company SingTel Innov8 - has since invested in four start-ups. Another agency, Spring Singapore, has five types of schemes which provi...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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