08 Sep '13, 2am

Singapore NRF chief hints at changes in store for Technology Incubation Scheme

Singapore NRF chief hints at changes in store for Technology Incubation Scheme

Singapore NRF chief hints at changes in store for Technology Incubation Scheme September 8, 2013 by Terence LEE We’ve heard recent rumblings that changes would be in store for the Technology Incubation Scheme (TIS) , a government program run by the National Research Foundation that funds incubators that in turn seed startups. One, there were suggestions that the quantum per investment would be lowered, from SGD 500k (USD 392k) of government money down to SGD 350k (274k). Two, rumors floated about that local shareholdership of startups would become mandatory should they want to receive investments under the TIS scheme. NRF CEO Professor Low Teck Seng debunked both rumors. On lowering the quantum amount, Prof Low, in an interview with SGE, said that nothing like that would happen anytime soon. The agency would also not impose any kind of requirement on ownership on startups....

Full article: http://sgentrepreneurs.com/2013/09/08/singapore-nrf-chief...

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