How the SFA BGG program helped
Business Growth Grant (BGG) is aimed at fostering the continued growth and expansion of FinTech companies based in Singapore as they navigate the global pandemic. BGG’s assistance provides companies with a lifeline to overcome POC costs, and this has been a sigh of relief to many firms. Staple is proud to be among the beneficiaries. From the application to the final approval step, where Staple received the right grant measure, Staple found the whole process transformative. The application process for BGG is straightforward and transparent. The documentation process required the advertised verifications only.

According to Ben Stein, the Chief Executive Officer of Staple AI, the BGG program provided the company the short-term liquidity they needed to help them defray POC costs during the challenging period of the pandemic. With the BGG, Staple AI was able to achieve better cash flow, and scale up their staff appropriately to deliver one of their first BFSI POCs expeditiously to a major bank.

This, in turn, helped the company build further credibility for their approach and technology, leading to multiple subsequent engagements with financial institutions across four countries, all during the pandemic.