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Singapore to attract more foreign talents

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Singapore introduces a new umbrella branding to support startup schemes:


Three key changes will be implemented using the work pass scheme EntrePass:

  1. Removal of the requirement for applicants to have a paid-up capital of at least $50,000 in their startups
  2. Extending the validity of each EntrePass from the current one year to two years, after the first renewal at Year 2
  3. Enhancing the co-investment support for promising startups in deep-tech areas, such as in medical technology, clean technology and advanced manufacturing, to catalyse private sector investment for this group.


According to Mr Koh, Minister of State for Trade and Industry,  the investment cap for the co-investment portion for deep-tech startups will be doubled from $2m to $4m, allowing the government to tier its funding support according to the differing needs as well as the proportion of the co-investment funding support for supported investments will be raised from 50% to 70%. technology and advanced manufacturing, to catalyse private sector investment for this group.

 

 

 

 

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Guest Monday, 19 November 2018