Tech@SG Programme

In the fast-paced world of technology, staying at the forefront of innovation is paramount for businesses seeking growth and sustainability. Singapore, recognized as a global tech hub, has consistently nurtured a vibrant ecosystem conducive to technological advancements. At the heart of this ecosystem lies the Tech@SG Programme, a strategic initiative designed to empower Singapore companies with the tools and support necessary to excel in the realm of technology. This article delves into the essence of the Tech@SG Programme, outlining its overarching objectives, benefits, eligibility criteria, and the step-by-step journey to harness its potential.

Topics To Be Discussed

Key Facts about the Tech@SG Programme

Benefits of the Tech@SG

Eligibility Criteria for the Tech@SG

How to Apply for the Tech@SG

Key Facts about the Tech@SG Programme

Tech@SG stands as a dynamic catalyst designed to empower swiftly advancing companies in securing the essential talent required to foster their expansion and scalability endeavors within Singapore and the broader region. Jointly administered by the Singapore Economic Development Board (EDB) and Enterprise Singapore, this visionary programme aligns with the strategic mission of equipping businesses with the workforce capabilities vital for thriving in today's technology-driven landscape. At its core, Tech@SG is committed to bridging the talent gap and nurturing an ecosystem where companies can harness cutting-edge expertise, seize growth opportunities, and emerge as frontrunners in the tech realm.

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Benefit

Reducing the risks of rejections for the EP

Timeline

While there is no fixed timeframe, it's advisable to plan for several weeks to a few months for the complete application process.

Key Requirements

1. Company registered in Singapore;

2. Digital or technology offering as a core business product;

3. Secure more than US$10 million in investment funding in the past 36 months.

Benefits of the Tech@SG Programme

The Tech@SG Programme extends a spectrum of substantial benefits to qualifying companies, ensuring they secure the pivotal talent needed for their growth journey. Key advantages include:

Enhanced Employment Pass (EP) Approval Assurance: Eligible companies receive invaluable company-level endorsement to the Ministry of Manpower (MOM). This endorsement significantly mitigates the risks of encountering rejections for their EP applications, streamlining the talent acquisition process.
Steady Workforce Expansion: Under the programme's umbrella, eligible companies can anticipate securing up to 10 new EPs across a span of two years. These EPs are designated for foreign employees strategically recruited to bolster the company's core team in Singapore.
Seamless Renewal Coverage: Beyond the initial phase, the Tech@SG Programme extends its support by covering the first renewal of each new EP acquired through the initiative. Each renewal holds a substantial validity of up to three years, ensuring an enduring and seamless employment arrangement.

By harnessing these benefits, eligible companies can not only foster a robust core team but also navigate the complexities of talent acquisition and management with heightened confidence.

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Eligibility Criteria for the Tech@SG Programme

To be eligible for the Tech@SG Programme, your company must fulfill the following comprehensive criteria:

Singapore Business Entity: An applicant should be a company incorporated in Singapore.

Core Digital or Technology Offering: The core of your business operations must revolve around a digital or technology offering. This encompasses instances where your business model is fundamentally built upon proprietary hardware or software technologies. Examples of such technologies include big data and analytics, artificial intelligence, and cybersecurity. Businesses falling under categories like software-as-a-service, e-commerce, digital media, digital gaming, medtech, biotech, cleantech, and fintech are illustrative instances.

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How to Apply for Tech@SG Programme

Navigating the Tech@SG Programme application process is a systematic journey that requires careful preparation and precise execution. Here's a comprehensive breakdown of the steps to guide you through the process:

Before initiating your Tech@SG Programme application, it's crucial to undertake the following preliminary steps:

CorpPass Account: Ensure your business entity has a CorpPass account from ACRA and you enabled the EDB Form SG e-service for the CorpPass account that will be used when submitting the application
Eligibility Check and Documentation: Thoroughly assess whether your company aligns with the programme's eligibility criteria. Gather and prepare all necessary information and documents required for the application form.
Access Setup: Familiarize yourself with the process of setting up access to EDB Form SG.

This stage involves submitting your Tech@SG application for endorsement. The procedure varies based on your company's local shareholding:

For companies with less than 30% local shareholding: Submit your application to the Economic Development Board. Within 10 to 15 working days, you can expect feedback on your application outcome.
For companies with 30% or more local shareholding: Submit your application to Startup SG, a division of Enterprise Singapore.

As part of your preparation, consider setting up an EP Online (EPOL) account, if not already established. This account, essential for EP applications to the Ministry of Manpower, requires approximately five working days to process.

By meticulously navigating these steps, you can seamlessly engage with the Tech@SG Programme, leverage its benefits, and steer your business toward a trajectory of technological advancement and growth in Singapore and beyond.

How We Can Help with the Tech@SG Programme

At CorporateServices.com, we recognize the significance of efficiently navigating the incentives application process and maximizing the advantages of the Tech@SG incentive. Our dedicated team is committed to providing comprehensive assistance and support to ensure a smooth application experience. We will guide you in preparing and organizing all the necessary documentation and information essential for a successful application. By leveraging our expertise, we can streamline the process, saving you valuable time and effort. Explore our Incentives services to discover how they can contribute to the growth of your business.

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This series of articles regarding Singapore government incentives was prepared by CorporateServices.com, a leading Singapore-based corporate service provider. We offer a range of services for private limited companies in Singapore. Our team of experienced experts provides Singapore company registration and other incorporation-related services through our cutting-edge online platform.

Contact us if you need assistance with setting up a new Singapore company or would like to transfer the administration of your existing company to us.

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