About The SGTech STAR Fund 2.0
SGTech, through our members’ contribution of funds and supported by Enterprise Singapore’s (ESG) STEER programme, launched the ‘Stronger Together, Aiding Recovery’ (STAR) Fund on 1 October 2020.
The name ‘Stronger Together, Aiding Recovery’, ‘Stronger Together’ reflects the support among members to build strength and resiliency within the SGTech community; ‘Aiding Recovery’ illustrates the intended result of the initiative, to help the broader business community leverage technology to transform and thrive in the post-COVID-19 economy.
Now that COVID-19 has become endemic, digitalisation must continue, if not hasten. To accelerate pervasive tech adoption, SGTech is relaunching the Fund as STAR Fund 2.0.
The STAR Fund 2.0 helps members by providing funding assistance to acquire customers. It can tapped to achieve the required number of SME customers to qualify for pre-approval in the SMEs Go Digital Programme. This would secure greater support for the solution via the Productivity Solutions Grant (PSG). The STAR Fund 2.0 also provides support for companies to upgrade their competencies through training programmes.
The STAR Fund 2.0 accepts applications from 1 Apr 2022. The last payout for eligible applications would be on 31 Mar 2024, or upon the complete drawdown of the Fund, whichever is earlier.
The STAR Fund 2.0 will primarily support the business growth of SGTech members who are tech SMEs, to:
- Acquire new SME customers and drive tech adoption
SGTech members may apply for marketing support for their tech solutions that help non-tech SMEs digitalise.
- Train and reskill their workforce by harnessing new digital capabilities or deepening current skills
SGTech member companies may apply for support for training programmes that:
i. Assist entrepreneurs in growing their business (e.g. fundamentals of business expansion, design thinking)
ii. Help harness new tech capabilities or deepen existing tech skillsets for employees
All training programmes must be offered by SGTech members.
A. Company A is an ERP solutions provider. Their solutions comply with the IRAS E-Tax guide and are Peppol e-invoice ready but not supported by any government grant. Company A can apply for the STAR Fund 2.0 to offer their SME customers additional post-implementation support hours as part of their sales bundle.
B. Company B, a cybersecurity company, wishes to send their staff for training provided by Company C. Both companies are SGTech members, and the particular training course(s) offered by Company C is not supported by any government grant.
Company B can apply for the STAR Fund 2.0 to offset their staff’s training costs.