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About The SGTech STAR Fund

SGTech, through our members’ contribution of funds and supported by Enterprise Singapore’s (ESG) STEER programme, has introduced the ‘Stronger Together, Aiding Recovery’ (STAR) Fund.

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.

The STAR Fund helps members by providing funding assistance to generate revenue and sustain their business during this period. The STAR Fund also provides support for companies that desire to position themselves for the post-COVID-19 recovery by upgrading their competencies through training programmes.  With a funding size of S$660,000, about 2,000 SMEs can benefit from the Fund.

The STAR Fund will accept applications from 1 Oct 2020. The last payout for eligible applications would be on 31 Mar 2022, or upon the complete drawdown of the Fund, whichever is earlier.

Benefits

The STAR Fund will primarily support the business growth of SGTech members who are tech SMEs, to:

  1. Acquire new SME customers in the weakened business environment as a result of the pandemic
    SGTech members may apply for marketing support for their tech solutions that help non-tech SMEs to digitalise.

  2. Train and reskill their workforce by harnessing new digital capabilities or deepen current skills
  3. 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.

Examples:

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 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 to offset their staff’s training costs.

Eligibility

All tech companies who are SGTech Ordinary and Startup members that are locally registered with more than 30% local shareholding and operating in Singapore are eligible for STAR Fund support. The company must also not have a revenue of more than SGD$30 million generated from the Singapore market and have fully paid their membership dues at the point of application and reimbursement of the Fund.

Companies must also declare that their tech solution or intended training programmes that they wish to claim for are not currently supported by any government grants (e.g. Productivity Solutions Grant, or Enterprise Development Grant).

 

Evaluation Criteria for STAR Fund Support

 For applications under tech solutions:

  1. Does the solution have a track record of adoption?
  2. Does the solution fit the purpose, is it reasonable in addressing an SME’s needs?
  3. Is the cost of the solution reasonable?
For applications under training programmes:
  1. Does the training programme fit the company’s purpose/need?
  2. Is the cost of the training programme reasonable?
  3. Is the training provider accredited and certified to conduct the training?

The evaluation will be undertaken by a panel of Councillors, Chapter and Committee ExCos, the SGTech Executive Director; or other SGTech members appointed by the panel as subject matter experts. Approval for funding will consist of no less than three persons’ assessment in the evaluation, and a simple majority will qualify as approval.

Application for the STAR Fund

The STAR Fund will commence from 1 Oct 2020. Companies interested in applying for the STAR Fund may do so from 1 Oct 2020. The SGTech Secretariat will contact companies that have applied via email, such as to request for additional documents or further clarifications on the application.

Applicants will be notified of the result within 14 business days, if all the necessary information is furnished.

Rejected applications for the STAR Fund will be furnished with justification for rejections. Rejected companies can repeal the decision by showing due cause or providing the required document(s).