Friday, December 14, 2012

New Funding for Social Enterprise Startups!

Dear all

Please take note of two up and coming seed funding available to new Social Enterprise startups in Singapore:

1. NVPC administered - Jump Start Fund (Link)
Information guide about the funds: Click here

2. MSF administered - Youth Social Entrepreneurship Program for Startups (Link)

Eligible young social enterprise start-ups can receive up to 80% of the total project cost, capped at $50,000. The cost refers to start-up and operating costs for up to the first two years. The youth social enterprise start-ups should have:
1. A compelling social objective 
The start-up should have a social impact, helping solve a problem or meet a need in an innovative way.
2. A viable business proposition 
The start-up should have a strong business model and feasible business plans. It must have reasonable organisational capabilities and capacity to run a sustainable business.
3. A committed team with relevant experience and expertise 
The team should preferably know the industry well enough to run the business. The team should also possess some experience in working with the target beneficiaries. The business should be geared towards results, accountability and both sound business and social principles.