Published on : 22 Jun 2012

Young Entrepreneurs Scheme (YES!) Start-ups @ RP

Launched by SPRING Singapore, YES! Start-ups is a scheme designed to provide funding support to youths in their start-up. Its objective is to nurture and encourage youths to be enterprising and innovative through ‘hands-on’ entrepreneurship learning.

Through Yes! Start-ups, the student entrepreneurs will also gain access to a wide network of mentors, advisors and external investors to help their business grow. Through YES! Start-ups, SPRING will match with $4 for every $1 raised by the applicant through self-funding, schools or any other third-party sources. The maximum amount of grant provided under YES! Start-ups is $50,000.

To complement the existing funding scheme, RP will also provide value added services to help you develop on your business idea and equip you with the business writing skill sets to obtain for funding successfully.

Who can apply?

Singapore citizen or Permanent Resident, aged 26 years or below on the date of application

-          Parental consent must be sought for those below 18 years old

-          First-time entrepreneur

-          Incorporation of a private limited company (upon approval) with its business activities wholly or mainly based in Singapore.

 Start-ups :

-          Existing business/company is incorporated for less than 6 months

-          Company’s main business activities are based in Singapore

-          Applicant must hold at least 50% equity

-          Engage in high growth activities with substantial developmental contents

-          Company has not received funding from the iJam Microfunding scheme

How will the business plan be evaluated?

SPRING will evaluate business proposal based on the following criteria:

-          Innovativeness of the Business Idea
How different/novel the idea is against what is already available in the market?

-          Feasibility of the business model
Is the business model viable and potentially sustainable?

-          Potential market opportunity
Will the market demand and buy such an item?

-          Management Team

Are the founders committed to the business and do they demonstrate the passion and entrepreneurial spirit to make their idea work? Do they have the technical and business skills to execute the idea? 

Please note:

YES! Start-ups Is open to all RP Graduates who are first time entrepreneur under the age of 26

There will be no open call for  submission. Centre for Innovation & Enterprise (CIE) will be working with applicants upon submission of business plans.

For any enquiries, please email to the following

For more information, kindly refer to the link below

http://www.spring.gov.sg/Entrepreneurship/FS/FS/Pages/young-entrepreneurs-scheme-start-ups.aspx