SME Talent Programme (STP) for Startups
Looking for Talents? Fintech Startups can leverage SME Talent Programme for funding support to attract students from the Institute of Technical Education (ITE), Polytechnics and Universities. ACE Ltd is the appointed partner of SPRING Singapore to facilitate startups’ demand for talent with the supply from institutes of higher learning through internships. Eligible start-ups can be supported by SPRING Singapore under the STP, where 70% of the stipend paid to students will be subsidised and disbursed at the end of the internship. ACE will also assist startups in building their human capital development capabilities via workshops in identified areas such as recruitment, retention and talent management.
Startups can apply for the STP if they meet the following criteria:
- Have a minimum of 30% local (Singaporean or Singaporean PR) shareholding
- Incorporated in Singapore
- Less than 5 years from date of incorporation at time of application
- Have less than 50% ordinary shares owned by other corporate entity
- Able to pay interns the minimum monthly stipend* of $800 to ITE and Polytechnic students, and $1000 to University students.
- Participate in a Human Resource Capability Workshop#
* With funding of up to 70%, startups under the STP will eventually pay a monthly stipend of $240 to ITE and Polytechnic students, and $300 to University students.
# Do check with ACE for the date of the upcoming workshop as well as the costs involved.
The Action Community for Entrepreneurship (ACE) was launched in 2003 by the Ministry of Trade & Industry as a national effort to foster innovation and entrepreneurship in Singapore.It was re-restructured in 2014 as a private-led initiative supported by the government to continue its national mandate to drive entrepreneurship initiatives in Singapore. The Minister of State for Ministry of National Development and Ministry of Trade & Industry, Dr Koh Poh Koon is Patron. Working closely with SPRING Singapore, ACE is guided by a board of directors that comprises of experienced entrepreneurs and professionals who are immersed in the entrepreneurial ecosystem.