Accredited Mentor Partner (AMP)

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Accredited Mentor Partner (AMP) by SPRING Singapore

The FinLab is appointed as one of seventeen Accredited Mentor Partners (AMPs) for Spring Singapore’s Startup SG Founder scheme. Under this scheme, The FinLab will shortlist eligible Singapore-based Fintech startups to be recommended to SPRING. Selected startups will receive grants of up to SGD$30,000.

I have a question!

If your question has not been answered, please email us at info@thefinlab.com

Does my company have to be incorporated in Singapore?

Yes. It is required for businesses to register/ have a registered limited company in Singapore upon approval. Furthermore, it is required for the business activities of the company to be conducted wholly/ mainly in Singapore

What are the selection criterion you are looking out for?

We are looking for fintech businesses with 4 key characteristics:
Differentiated business model with a novel idea that has the potential to significantly impact the market
High market potential through the demonstration of high market opportunity worldwide and feasible plans to sell the products and services
Feasible business model complete with financial projections that are based on clearly identified, reasonable assumptions
Strong management team with technical and business skills required to execute the idea fully

What is required of the main applicant?

The main applicant must be a Singaporean Citizen/ Permanent Resident who is a first-time entrepreneur holding or proposing to hold a minimum of 30% equity in the applicant company.

I want to start a fintech company as a side business in addition my current job. Am I eligible for this grant?

No. The main applicant of this grant must not be employed full time by another employer. He/ She must also be able to dedicate a reasonable amount of time to the business and must be a key decision maker in the company.

Am I still eligible for the grant if my company has received funding from another government organisation?

No. The proposed business idea must not have received funding from other government organisations before.

Am I eligible for grants if a large proportion of my shareholders are not Singapore Citizens/ Permanent Residents?

No. Your company must have a minimum Singapore Citizen/ Permanent Resident shareholding of 51%

How will The FinLab as an AMP help me?

If selected, a Mentoring Engagement Plan (MEP) will be drawn up, which will cover the frequency and mode of engagement, developmental areas in which the mentor is expected to help the mentee, desired outcomes of the mentoring engagement and any other details deemed critical to the Mentee and Mentor in achieving an effective and productive working relationship. The aim of the MEP is for The FinLab to provide advice, guidance and support where appropriate, with the key objective of building the underlying business.

How much will be invested to my startup?

SPRING Singapore will match SGD$3 for every SGD$1 raised by the entrepreneur, up to a maximum of SGD $30,000

For the full list of criterion, please refer to Eligibility and Evaluation Criteria for AMP.

I fulfill the above criterion! How do I apply?

Please register your interest by filling in the Startup-SG-Founder-Application-Form and sending it via email to info@thefinlab.com.