Business Growth Grant (BGG)

To foster the continued growth of Singapore-based FinTech companies and help the companies offset their POC costs.

Grant Amount

SGD 4.5 million fund, to foster the continued growth of Singapore-based Fintechs and to offset their Proof of Concept (POC) costs on the APIX platform.

1st Application: 70% of qualifying expenses, capped at S$40,000
2nd to 5th Application: 70% of qualifying expenses, capped at S$10,000 per application

100% of Internship Funding for Salaries of Singaporean/PR Undergraduate Interns
(capped at S$1,000/month per intern)

Overall internship salary cap of S$20,000 for FinTechs with more than 30 staff or Overall internship salary cap of S$10,000 for FinTechs with 30 staff or less

Overall BGG Cap of up to S$100,000 Per FinTech
BGG Application Closing Date: 31st December 2021

Qualifying Expenses Includes*

• Professional Service related to the POC (incl. consultancy, cybersecurity testing, IT audit, training, change management)

• Wage Support Incl. salaries of staff (Including Foreign Nationals) involved in the development and implementation of the project (excluding employer CPF and bonuses)

• Hardware & Software Incl. licences, maintenance and subscription costs, related to the project

Eligibility

• Be registered and in operation in Singapore for at least 3 months before grant application

• Have at least 2 or more core activities in Singapore

• Be an SFA member with a valid SFA Fintech Certification

 • FinTechs must register and complete their profile on APIX, as well as carry out their POCs with any Financial Institution on APIX to be eligible for this grant

• Only 1 application per POC is allowed per company or Group of related companies.

• Each Company or Group of related companies is allowed to submit up to 5 BGG applications for 5 different POCs

• Applicants must use the SFA Jobs Portal to advertise the internship opportunities, but are free to use other advertising channels as well.

All Qualifying expenses for the application must be related to the POC on APIX.

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