SEEDS Capital Investment Profile Publication 2011

SEEDING
POTENTIAL
ENABLING
ENTERPRISE
SEEDING POTENTIAL, ENABLING ENTERPRISES

GROWING GOOD
IDEAS INTO GREAT
BUSINESSES
2 Chairman’s Message
4 About SPRING SEEDS Capital
INVESTEE COMPANIES
8 Science, Technology and Infocomm
18 IT and Business Services
Nurturing Innovative Start-ups

38 Technology Enterprise
Commercialisation Scheme (TECS)
46 Young EntrepreneurS Scheme for
Startups (Yes!Startups)
54 Incubator Development
PROGRAMME (IDP)
62 Angel InvestorS Tax Deduction
Scheme (AITD)
64 Useful Business Resources

SPRING SEEDS is a catalyst for
the growth of innovative,
Singapore-based start-ups
with global market potential.
The quest to create a vibrant, sustainable Investment Portfolio Update

and competitive local enterprise sector After a steady economic recovery, 2010
requires a robust, committed and active was a busy year for us. The team assessed
private and public partnership. Established some 130 deals and committed $10
in 2001, the SPRING Start-up Enterprise million of investments into 15 companies,
Development Scheme (SPRING SEEDS) including 6 companies for follow-on round
is a catalyst for the growth of innovative, funding to support their expansion plans.
Singapore-based start-ups with global
market potential. Historically strong in the IT/ICT, engineering
and services industry sectors, we are
We co-invest with private sector investors now actively engaging with emerging
in capable management teams with biomedic al, energy and agri-tech
great business ideas, and realistic go-to- innovators. We plan to invest a further $10
market strategies. They in turn are able million during 2011.
to commercialise defensible intellectual
content, create jobs, generate substantial Key Portfolio Mentoring
revenues, expand overseas and attract Initiatives
future investors to our partnership. While capital is key to enable commer-
cialisation, it is usually not without value-
Over the last decade, the co-investment adding contributions for other capability
program has seeded more than 180 start- building efforts. Besides investing, SPRING
ups across various sectors. Together SEEDS Capital actively adopts a hands-on
with our partners we have committed approach in monitoring our companies.
$63 million, and galvanised more than
350 individual and corporate investors For example, in 2010, the team facilitated
collectively. a business development trip to the United

States for market access opportunities and
be connected to senior business advisors,
venture accelerators and entrepreneurs.
We also arranged a series of workshops
with a focus on measuring and diagnosing
financial performance and overseas
expansion support. On a continuing basis
we also Introduce potential investors and
business/industry partners. Through such
measures, we help companies to reach
their maximum potential.
Looking ahead, our focus remains fixed on
Publication Preview building a strong portfolio of companies with
The purpose of this publication is two-fold. the ability to stand tall in their respective
Firstly, it captures some recent investments industries. Through their success, and
committed by SPRING SEEDS Capital, ability to attract further private investment,
quick reads on their milestones as well as we can profitably exit each investment
areas of business opportunities they are and go on to seed the next generation of
seeking. Singapore-based entrepreneurs.
Secondly, we gather a host of other

supporting programs introduced by SPRING Tan Kai Hoe
Singapore for the start-up landscape, and Chairman, SPRING SEEDS Capital Pte Ltd
how businesses, youths, investors and Deputy Chief Executive,
incubators might find it useful. SPRING Singapore

SPRING SEEDS champions the
development of innovative
start-ups by co-investing IN
their future.
About SPRING SEEDS Capital invested in over 180 start-ups in various

The SPRING Start-up Enterprise Develop- sectors such as science and technology,
ment Scheme (SPRING SEEDS) is an equity- information communications technology
based co-financing option for Singapore- and business services.
based start-ups creating innovative
products and/or processes, possessing Qualifying criteria for
intellectual content and strong growth consideration?
potential across international markets. Interested start-ups must:
• Be a Singapore-based company with
SPRING SEEDS Capital Pte Ltd, a wholly- core activities carried out in Singapore
owned subsidiary of SPRING Singapore, • Be incorporated as a Private Limited
manages the investment fund. company for less than 5 years
• Have paid-up capital of at least
What level of investment? S$50,000, but not more than S$1
SPRING SEEDS Capital co-invests into million
commercially viable local start-ups • Be able to evidence its substantial
together with independent third-party innovative and intellectual content for
investor(s), matching dollar-for-dollar up its products and/or services and/or
to S$1million, upon investment approval. applications
Both SPRING SEEDS Capital and the • Have high growth potential with clear
third-party investor(s) take equity stakes scalability for the international market
in the company in proportion to their • Have identified a ready, independent
investments. third-party investor(s) who is ready to
invest at least S$75,000 into the
What do we invest in? business and prepared to conduct due
To date, SPRING SEEDS Capital has diligence on the company

Investors must:
• Not have prior interest in the company
at the point of application
• Possess management experience,
relevant business contacts and/or
necessary technical expertise to demon-
strate ability to add value to the
start-up
• Not be related to the founder(s) of the
start-up
• Maintain arm’s length transactions with
the founder(s) and start-up
• H a ve at least one third-par t y
investor or his nominee take a Board of
Directors seat in the start-up, should the
investment be supported
How to find out more?

To know more on the investment procedure,
you can visit our website www.spring.gov.
sg/seeds.
You can also contact us via email at

[email protected] or call us on tel
+65 6279 3806.

Innovative start-ups
making news

InnovatION TAKES FLIGHT

SCIENCE, TECHNOLOGY AND INFOCOMM

SCIENCE, TECHNOLOGY AND INFOCOMM TELECOMMUNICATION INFRASTRUCTURE
Delivering true ‘value-added services’ involves

demonstrating where that value is derived and
for us, it’s all about being better, cheaper, faster
and more nimble than the big boys.
Yeoh Poh Seng – CEO
10 SEEDING POTENTIAL, ENABLING ENTERPRISES

Asiatel (S) Pte Ltd
> Telecommunication infrastructure
Asiatel provides advanced telephony and data solutions.

Customers include major telcos, government ministries
and large enterprises.
The existing customer base is in Singapore, Malaysia,

Thailand and Indonesia, and some of these customers
have extensive international operations running on
infrastructure built by Asiatel.
The company expects to establish a market presence in

Cambodia during 2011, and will launch an internet retail
portal in China.
Core competencies lie in the areas of telecoms business Contact

Yeo Poh Seng, CEO
consultancy, network infrastructure design and imple- Email: [email protected]
Tel: +65 6521 6808
mentation, application development, systems integration,
www.asiatel.com
and operational support.
Quick facts
• Grew from two-man team to
Accordingly, Asiatel’s one-stop, integrated business 14 employees over past five
years
solutions may include third-party technology, tailor-made • Has commercially-ready
applications, engineering know-how, and integrated back prototype of encrypted mobile
communications system
end services. In contrast, a traditional technology vendor • Expanded into four countries
may only offer a partial solution to a complex project. since 2007
• Cash-flow positive since 2006
• On a sustainable growth path
in 2011
Seeking
• Asia-Pacific distributors
• R&D collaboration
opportunities
• Fundraising of $3 mil to
$4 mil for expansion
SEEDING POTENTIAL, ENABLING ENTERPRISES 11

SCIENCE, TECHNOLOGY AND INFOCOMM ELECTROCHEMICAL INSTRUMENTATION
We hope to make a difference in food safety

testing and medical diagnostic through rapid
detection and significant cost effective means.
Donald Foo — CEO/Founder

Bio-X (S) Pte Ltd
> Electrochemical instrumentation
The issue of food safety has gained increasing global

concern over the years. Supply chains can be complex,
and toxicity testing at each link in the chain - farm, factory,
transportation, storage, and retail – is imperative.
Bio-X has developed a low cost, portable sensor that is

sensitive, specific and requires only a small sample volume.
It is used to screen and analyse a wide range of chemical
substances and pathogens in food testing processes and
other applications.
Contact
Their patented technology Accumulated-Method-Ion- Donald Foo, CEO
Sensing (AMIS) platform claims superiority over other Email: [email protected]
Tel: +65 6747 1578
sensors in the market. It uses a proven ion-sensitive www.biox.com.sg
field effect transistor (ISFET) to detect protonic changes
Quick facts
resulting from almost any chemical reactions. Researchers • Won Innovative and Venture
have recognised the potential sensitivity of this technology awards in 2008-2009,Japan
• Awarded SPRING TECS
for many years, but have struggled to screen out errant Proof-of-Value grant in 2009
‘noise’ at the microchip level. Bio-X has developed a new • Clinched turnkey project on
water quality monitoring system
approach, which resolves this problem. for aquaculture site
• In final production phase of
commercially ready prototype
Aside from food testing, this portable, fast and accurate • On order by Philippines Dairy
analyser can also be deployed in various medical field and industry
healthcare sectors (e.g. Tuberculosis screening), as well as Seeking

in joint R&D initiatives with research-based institutions. • Biotechnology and bioscience
industry partners to develop
marketable methodologies and
Bio-X has established collaborators in Malaysia, Thailand, explore R&D ideas
• Food and medical companies
Philippines, India, Israel and Australia. They are forging that can adopt their technology
for testing applications
bonds with government bodies and universities to develop
• OEM partners to incorporate
new areas of application in the various sectors. Bio-X’s biosensor

SCIENCE, TECHNOLOGY AND INFOCOMM Water Treatment and Environmental Engineering
The market has waited for a solution like ours

and lucrative opportunities exist for players who
can bring a comprehensive approach to aqua
technology and environmental engineering.
Matthew Tan – CEO

SIF Technologies Pte Ltd
> Water treatment and environmental engineering
With ecological concerns on the rise, a fundamental global

initiative is to reduce the amount of freshwater that we
use. SIF has developed a large-scale chemical-free water
treatment process that is completely green.
The hydrocavitational technology works on circulation

flow rate and does not even require electricity to power
it. SIF’s solutions have the potential to revolutionise the
water treatment industry, and related sectors within the
aqua technology space. Bodies such as governments,
fishery authorities and the wastewater industry can avoid
expensive traditional methods of water treatment and be
environmentally-friendly at the same time. Contact
Matthew Tan, CEO
Email: [email protected]
Their multi-disciplinary engineering services have provided Tel: +65 6292 3148
www.dpasys.com
solutions for major eco-city developments, the agro
technology industry, town planners and municipalities. Quick facts
• Revenue-generating since 2005
They cover all aspects of earth, air and water sciences. • Turned profitable in 2008
• Achieved 15% annual growth
between 2008-2011
SIF together with partners currently serve markets in • Recycled 800mil litres of water in
Singapore, Malaysia, Indonesia, Thailand, Japan and Singapore for past 5 years
Australia. The management team are also planning to Seeking

• To commercialise and scale up
work with global partners to establish an overseas regional
globally with key potential
network of aquaculture farms from 2011 onwards. players in the aquaculture and
eco-engineering space
• To develop inexpensive
Some of their existing clients in the eco-city development technology for filtration of
ammonia, nitrite and nitrate ions
and water treatment projects include, Housing Develop- • Experienced professionals
ment of Singapore, Punggol 21, United Engineers familiar with operations in
land-based farming and water
Singapore and Surbana Technology. technologies

SCIENCE, TECHNOLOGY AND INFOCOMM Satellite Communications
The demand for well-placed, cost-saving

telecommunications technology is strong. Our
range of small form factor and high performance
satellite terminals offer a cost-effective solution.
Nicholas Cirillo – COO

THISS Technologies Pte Ltd
> Satellite communications
At sea, and in remote locations, the provision of telephony

and data services is dominated by satellite communications.
Many potential users find satellite systems prohibitively
expensive to buy, but reliance on communication abilities
remains important.
THISS Technologies has developed a unique combination

of satellite modem and antenna technology for both fixed-
site and mobile operations to provide lower cost solutions,
with a smaller physical footprint.
Their core product offering is a satellite terminal that allows

smaller vessels, or users with smaller communications
budgets, to have reliable connections. With this, users can
get access to affordable internet and voice communication Contact
services for both operational activities and crew welfare. Nicholas Cirillo, COO
This terminal also has a particular advantage in geographic Tel: +65 6273 1285
regions where rain outage is a potential threat. www.thiss.net
Quick facts
• Product sales contributed signifi-
THISS targets the sale of products and system technology
cantly to revenue stream in 2010
towards satellite service providers and telcos. The com- • Nominee for ‘Outstanding
Maritime R&D Technology Award’
pany has appointed Schlumberger, one of the largest oil in 2011 by Singapore
& gas services companies in the world, as its exclusive International Maritime Awards
• Expects to deliver over 1,000
reseller in that sector. They are also currently working on terminals over next 3 years
the application of GSM services at sea.
Seeking
• Additional service provision
partners for non-oil and gas
market in South-East Asia
• Seeking to raise $3 mil - $5 mil
working capital to support
expansion plans

PIONEERING NEWFOUND SOLUTIONS

IT and Business Services

IT AND BUSINESS SERVICES Workforce scheduling software
Recognising waves of opportunity is critical

for any early-stage venture. What determines
success and failure is the ability to ride on the
wave before it is gone.
Alan Sevugan – CEO/Founder

Friar Tuck Ltd
> Workforce scheduling software
FriarTuck offers software solutions to allow businesses to

get more from their workforce. Instead of time-consuming
manual processes, or simplistic rules-based software,
Friar Tuck uses breakthrough mathematical techniques.
It synthesises and processes complex rules to create
optimised team schedules.
The system factors in staff skill mix, shift bidding prefer-

ences, fatigue, staffing regulations and process needs, and
calculates optimal solutions.
It is ideal for sizeable workforces with complex employee

scheduling requirements. Typical customers have staffing
needs across multiple sites with 24x7 operations, such as
Contact
those found in healthcare, security, retail, manufacture, Alan Sevugan, CEO
financial services, transportation, utilities and the public
Tel: +65 6776 6764
sector. www.friartuck.net
Quick facts
Through planning, tracking and optimising work force FriarTuck was presented with the
following accolades/awards:
deployment, FriarTuck software improves productivity by • National Infocomm Award in
70-80% and reduces labour costs by 2-6%. 2004
• Asian Hospital Management
Award in 2006
The management is currently seeking overseas oppor- • Best SAP NetWeaver Project
Award 2008
tunities to expand its reach in the lucrative workforce • SAP NetWeaver Excellence
Award in 2008
management space.
Seeking
• Partners to help expand
business into Japan and
Australia
• Expansion opportunities in
workforce management

IT AND BUSINESS SERVICES Online social game developer and publisher
Game Ventures is gaining greater prominence

and traction in the world of social gaming. The
co-investment and active guidance from SPRING
SEEDS Capital and BAF Spectrum has been
instrumental in making it possible for us.
Zaki Mahomed – CEO/Founder

Game Ventures Pte Ltd
> Online social game developer and publisher
The modern cash-rich, time-poor generation presents

opportunities for the entertainment industry to provide
games for people to participate in quick, ‘small bites’ –
preferably with a network of friends.
Game Ventures builds and markets competitive multiplayer

social games online. They work with real world sports and
card games to create realistic social experiences around
them. Since 2009, Game Ventures offers richer sports and Contact
tabletop gaming experience, entertaining millions of users Zaki Mahomed
across multiple platforms worldwide. Tel: +65 8101 1856
www.gameventures.com
Its portfolio of popular games include: Quick facts

• Grew from five-man team in
• Howzat Cricket - the world’s first multiplayer cricket
2009 to 38 employees based
game in the browser in Singapore, Pakistan and
Turkey
• Homerun Heroes - the world’s first real social baseball • Sold first game, Pokerama to
game Ubisoft in 2009
• Launched Howzat in 2009,
• XuQa.com - aimed at Turkish gamers as a place for now the largest on-line cricket
people to meet and play local games. game with over 1 million users
• Launching Homerun Heroes
on Facebook on 6Waves
The team is launching Homerun Heroes in 2011, on • Revenue-generating since
2009
Facebook, on 6Waves - the world’s largest independent
Seeking
social games distribution platform. Howzat Cricket will
• Distributors with experience,
launch in Q1 2011 on Facebook, ESPN and Ibibo.com. outreach or IP in sports and
tabletop gaming genres for
mobile or browser/online
With a strong presence already established on PC/browser gaming
• Experienced people who have
platforms, they are pursuing emerging opportunities on worked in sports or social
mobile and tablets (e.g. iPad) in 2011. gaming in the past and would
like to help make and take
games to millions of people

IT AND BUSINESS SERVICES Confectionery manufacturing and trading
Opportunities to create fun, innovative and

lovable candies are bountiful. At Kandy, we let
our imagination take us to an assortment of
sugared possibilities.
Raynne Ong - CEO/Founder

Kandy Confectionery Pte Ltd
> Confectionery manufacturing and trading
Kandy Confectionary is an experienced food manufacturer

of chocolate and confectionary products. Based in
Singapore and with a manufacturing facility in China, the
chocolate get processed into quality retail products at
competitive prices.
The company was founded by veterans with more than 30

years of food manufacturing expertise, mainly in snacks
and goodies. With product research and development
know-how, the company has been able to create new,
interesting and proprietary candy supply.
Contact
Raynne Ong, CEO
Core product offerings include chocolate coated items, Email: [email protected]
chocolate dips, and other snack range. Kandy exports its Tel: +65 9148 6722
www.kandycandy.com
products to Canada, UK, Japan and Australia, and also
Quick facts
contract manufactures for established retailers including:
• Certified with HACCP and
• Watsons Singapore, Malaysia and Hong Kong ISO22000 in 2006
• Revenue-generating since 2006
• Dollarama, Canada’s biggest dollar chain store • Started to export to Australia
• UK pound stores and Japan in 2006-2007
• Achieved average year on year
• Japanese 100 yen stores growth of 15% and expecting
to double in next few years
With experience producing licenced products under the Seeking

‘Hello Kitty’ brand, Kandy engages in R&D to determine the • Connections to partners,
distributors or market experts
feasibility of producing its own range of branded produce. for further expansion into the
China, Canada, Australia and
US retail markets
• Raise $1mil to finance own
label product range and for
market expansion
• Investors who can actively con-
tribute to accelerate go-to-
market opportunities

IT AND BUSINESS SERVICES Payment gateway services provider
More merchants and businesses are on the

move and no longer bounded by wired sale
systems. Electronic payments have grown to be
an almost must-have option.
Anthony Koh - CEO/Founder

Mobile Credit Payment Pte Ltd
> Payment gateway services provider
Mobile Credit Payment provides a one-stop payment

solution to banks and merchants specialising in real-time,
wireless point-of-sale payment services.
With their wireless credit card terminals, the company

provides merchants a convenient payment acceptance
platform to help them manage their sales revenue,
receipts and customers more efficiently and securely.
Other core accompanying services include wireless credit
card terminal rental, offering payment solutions for niche
industry such as for taxi fleets and related e-commerce
solutions.
Contact
Anthony Koh, CEO
By providing the tools for the retail and transportation Email: [email protected]
Tel: +65 6299 0030
sector and delivery services to accept major credit cards, www.mcpayment.com
Mobile Credit Payment enables seamless payment modes
Quick facts
to both customers and businesses whilst on the move. • Its system works with major
credit card providers in 2006
• Clinched first taxi-fleet
The company currently serves merchants in Singapore payment solution contract with
local player in 2009
and has started on pilot trials in India and Malaysia, with • Partnered with international
regional expansion planned in 2011. financial institution in 2010 to
provide payment solutions
locally and in the region
• Secured $2mil funding for
expansion in 2010
Seeking
• Potential partner(s) with
multinational financial institu-
tion for overseas presence
• Interest(s) from overseas
players looking for regional
networks through Mobile
Credit’s operations

IT AND BUSINESS SERVICES Monitoring software solutions
Our vision is to deliver the most pervasive,

secure, and valued monitoring service
worldwide.
Varun Arora & Li Yi - Co-Founders

Pechora Technologies Pte Ltd
> Monitoring software solutions
Consumers increasingly seek the peace of mind of knowing

that their home, office, family members and pets are safe
and secure. Pechora Technologies helps people to keep a
remote eye on what matters most to them.
Their core offering is an application called GotoCamera,

which uses existing internet connections, coupled with the
webcams, computers and mobile phones, to stream live
video anywhere. The primary advantage of GotoCamera
is that the consumer need not buy any new or proprietary
hardware. It works with a variety of common devices that
many people already own.
By focusing on ease of use, and eliminating the need Contact

Varun Arora, CEO
to purchase new equipment, GotoCamera provides an Email: [email protected]
Tel: +65 9681 2884
affordable monitoring system without large capital outlay.
www.gotocamera.com
Quick facts
The GotoCamera service is marketed directly to consumers • Winner at InfoVision Broadband
via Pechora’s website, as well as in partnership with telcos, World Forum Award in 2009
• Winner of Red Herring Asia 100
Internet Service Providers (ISPs), device manufacturers, Award in 2009
software companies and system integrators. • Top 15 companies selected to
launch at DEMO Conference in
USA, in 2010
The product has been widely recommended by global • Revenue-generating in 2010
technology publications like PC World, Computer Active, Seeking

• Partners/distributors or market
Computer Shopper, Digital Life and other mainstream
experts in the security, pet and
media in the United States and New Zealand. caregiver segments for licensing
opportunities
• To penetrate and offer existing
services in markets such as
South East Asia, Middle East
and Americas

IT AND BUSINESS SERVICES Mobile Services Platform
It is important for any early-stage venture to

find the right fit of investors who believe and see
the value in the business. For us, we made the
right choice with SPRING SEEDS Capital and our
angel investor.
Steve Wah - CEO/Founder

Smoov Pte Ltd
> Mobile services platform
In the mobile services ecology, Content, Commerce,

Community and Context are the key challenges faced by
players. Smoov addresses these challenges through a
suite of applications that can be tightly integrated, or used
in standalone deployments. They offer the following suite
of services:
SmoovApp helps businesses to move from web to mobile

seamlessly by deploying existing content to a variety of
smart phone standards.
Contact
SmoovPay is the answer to secure payment on mobile Steve Wah, CEO
devices, facilitating commerce of mobile content and Email: [email protected]
Tel: +65 9795 4426
services across all smart phones with a personalised corporate.smoov.me
mobile wallet to track all transactions.
Quick facts
• Achieved 100% annual growth
Smoov.Me is an award winning platform that enables between 2009-2010
• Profitable in 2010 and likely
community owners like operators to switch on their to grow further with major Telco
own sticky universal mobile application platform. The contracts
• Won Best in Communications
community platform connects all users together and drives Award at 10th Asia Pacific ICT
up transactions seamlessly within weeks. Alliance Awards 2010
• Won Merit Award at National
Infocomm Awards (NIA) 2010
SmoovCRM helps marketers to harness the intelligence for Most Innovative Infocomm
Service category.
of mobile devices for precision marketing. It works in • Serving more than 1.5 million
conjunction with SmoovApp and Smoov.Me to reach out users on Wireless@sg platform
to the right users, at the right time and right place. Seeking
• Partners and distributors to
support expansion in Australia,
Smoov’s customer base includes mobile operators, banks, New Zealand, South East Asia,
telcos, tertiary institutions and service providers. The plan Asia
• Seeking to raise $2 mil to fund
for 2011 is to replicate success with banks and telcos in expansion
other Asian markets.

IT AND BUSINESS SERVICES Email management solutions
Corporate email can be transformed from a

landmine to a goldmine, if one knows how to tap
the deep, rich knowledge within.
Tan Eng Siong - CEO

Third Sight Pte Ltd
> Email management solutions
Most of an organisation’s institutional knowledge can

be found in its email platform. Knowledge-intensive
organisations lose value during staff turnover, and fail to
enhance value by sharing knowledge. Even in organisations
with full Enterprise Content Management (ECM), there is
still lack of confidence that important email records are
captured, complete and retrievable.
Third Sight is a pioneer and leading provider of email

knowledge archival and management software. Its patented
software facilitates knowledge-sharing, enhanced staff
productivity and compliance.
By transforming corporate email into a dominant knowledge

management platform, the company helps organisations to
categorise, data-mine and cross-reference rich institutional
knowledge with access-control mechanisms. Their system
Contact
can be deployed as a standalone application, or integrated Tan Eng Siong, CEO
with ECM systems. Email: [email protected]
Tel: +65 6745 3596
www.thirdsight.net
Third Sight’s target customers are corporations, government
Quick facts
bodies, legal and law enforcement sectors. • Software patented in Singapore
in 2008
• Profitable since 2008
In 2011, the management team is planning overseas • Merit Award Winner for National
Infocomm Awards under Most
expansion by offering a new Software-as-a-Service
Innovative Product category
model. in 2008
Seeking
• Local and overseas distribution
partnerships to step up
expansion efforts

IT AND BUSINESS SERVICES Online customer service tool
Fanatical customer service has become a

critical differentiator for online businesses, and
Zopim provides the right tools to support that.
Royston Tay - CEO

Zopim Technologies Pte Ltd
> Online customer service tool
In the competitive online retail space, it is critical for site

owners to convert web visitors into customers. Zopim
provides web-based solutions that help small and medium
businesses improve online sales.
Their flagship product - Zopim Live Chat – facilitates a

real time conversation between the website visitor and
sales/service staff. By assisting the customer directly,
and addressing any questions and concerns almost
immediately, the online sales conversion rate is boosted.
By utilising the built-in rules engine, Zopim Live Chat can

be used to target potential high-value website visitors, and
offer them priority service.
Contact
The product is simple to implement, with no programming Royston Tay, CEO
required, and easy to use. 40,000 customers around the Tel: +65 9101 5667
www.zopim.com
world are using the product already, with the majority
of these based in the US. SingTel and Croatian Airlines Quick facts
• Average monthly revenue growth
are examples of its initial enterprise users. The solution of 25% in 2010
bypasses popup blockers and integrates with other • Emerged as finalist at Red
Herring Global Top 100 in 2010
applications including instant messaging, mobile devices, • Voted Top 10 Web Apps in Asia
email and social media tools. in 2010
• Chat widget translated into over
40 languages by passionate
In 2011, Zopim plans to launch a channel program to customers
allow other solution providers to bundle Zopim Live Chat Seeking

• Business partners and resellers
in their offerings.
such as internet service provid-
ers, web hosters, e-commerce
enablers and customer support
solutions

FUELING THE FLAME OF IDEAS

SUPPORTING AND NURTURING START-UPS
TECHNOLOGY ENTERPRISE
COMMERCIALISATION SCHEME TECS
YOUNG ENTREPRENEURS SCHEME FOR

STARTUPS YES! STARTUPS
INCUBATOR DEVELOPMENT
PROGRAMME IDP
ANGEL INVESTORS TAX DEDUCTION

SCHEME AITD

TECHNOLOGY ENTERPRISE
COMMERCIALISATION SCHEME
TECS
What is it? How does TECS work?

This is a competitive grant to catalyse the Owing to its competitive grant procedure,
formation and growth of technologically proposals are ranked based on the
innovative start-ups with strong Intellectual evaluation of a team of reviewers, and
Property (IP), by providing vital resources the best proposals are funded. It covers
to help convert breakthrough R&D con- both Proof-of-Concept and Proof-of-Value
cepts into promising businesses. TECS proposals.
aims to help technology enterprises and
entrepreneurs in Singapore to grow past Proposals in the following areas
their embryonic phase, secure third-party are welcome:
funding and achieve growing revenues. • Electronics, Photonics and Device Tech-
nologies
For who? • Chemicals, Advanced Materials and
Interested applicant/start-up should: Micro/Nanotechnology
• Be registered for less than five years at • I n f o r m a t i o n a n d C o m m u n i c a t i o n
time of application Technology
• Be incorporated and located in • Biomedical Sciences (excluding Drug
Singapore Discovery)
• Have at least 30% local shareholding
• Have group fixed assets investment of The project or idea must:
below S$15 million • Clearly demonstrate how science/tech-
• Have no more than 200 employees (for nology will be developed and applied
non-manufacturing companies) • Lead to or build on proprietary know-
• Have at least one in-house research how/intellectual property
scientist or engineer • Have the potential to disrupt and

replace an existing market, or even Proof of Value (POV)
create a new market/niche • For applicants who are keen to carry
• Be commercially viable out further research and development
on a technology project, including the
Evaluation criteria? development of a working prototype.
• Strength of the scientific/technical idea • Up to 85% of qualifying costs for each
• Ability to successfully carr y out the project will be supported, up to maximum
project of $500,000.
• Commercialisation potential
• Economic benefits to Singapore Qualifying costs include:
• Manpower-related costs
Proposals are evaluated based on both • Professional Services
technical and commercial merits by a team • Equipment/ Software
of reviewers. • Intellectual Property Rights
• Materials & Consumables
Level of support? • Other Operating Expenditure
Proof of Concept (POC)
• For applicants who wish to develop How to apply?
proprietary ideas at conceptualisation For more information and on submission
stage. details, please visit www.spring.gov.sg/
• Up to 100% of qualifying costs for each tecsportal.
project will be supported, up to
maximum of $250,000. For projec t- specif ic enquirie s, email
[email protected] (ICT area) or
[email protected] (all other areas)

TECS Computerised Electro-Mechanical Medical Equipment
Key opinion leaders and distributors in the

field have one common opinion: our technology
is a game changer.
Dr Li De Li - CEO/Founder

Biobot Surgical Pte Ltd
> Computerised electro-mechanical medical equipment
Biobot Surgical researches, manufactures, and markets

surgical robotic systems and devices for minimally invasive
cancer surgery. Their products are marketed worldwide.
Their core product, Mona Lisa, is an eight-axis surgical

robot with ultrasound imaging. It was developed from an
invention licensed from Nanyang Technological University
(NTU), Singapore General Hospital and Singhealth.
This robotic device aids the intelligent planning and Contact

Dr Li De Li, CEO
execution of transperineal prostate cancer surgery. It also Email:[email protected]
increases prostate cancer detection rates and reduces Tel: +65 6779 1793
www.biobotsurgical.com
post-operative morbidity as well as facilitates prostate
Quick facts
cancer focus therapy.
• Manufacturing processes certified
with international medical quality
systems, ISO 13485
With founding core competencies in surgical robotic • Designs built according to inter-
know-how, the management is now engaged in building national medical device safety
standard
marketing and production capabilities. Target customers • Officially marketable to Europe,
include medical centres, hospitals and national distributors Taiwan, Australia and Singapore
• In close clinical collaboration
as sales channels. with Singapore General Hospital
(SGH) and University of Southern
California (USC), where products
Biobot continues to evaluate new sales and distribution are also installed
• Beta test units used in Taiwan and
channels to establish a scalable business model. They
Australia
have established two major distributors in Taiwan and
Seeking
Australia with more than 20 years experience in the • Potential partners established
urology field, and presently forging collaborative in urological biopsy or minimal
invasive surgical cancer therapy
partnership in the USA. • Sales channel presence and
possible OEM or distribution
in major markets like USA
and Europe

TECS Nanotech-engineering solutions
Using innovative technology to deliver light,

Helios is a solution provider in nanotech-
engineering targeted at the electronic sector.
Kan Shyi Herng - CEO/Founder

Helios Applied Systems Pte Ltd
> Nanotech-engineering solutions
Helios Applied Systems develops and produces optical

functional film for the display industry. With in-house, state
of the art manufacturing and know-how, the company is
due to complete its pilot production line in 2011.
With core competencies in the design and fabrication of

large volumes of customised optical film, Helios is pursuing
a strategy of creating film with superior performance at an
inexpensive market price.
Innovative R&D and novel manufacturing processes

underpin this key offering. Existing film technology and
competitors in the market are unable to produce prismatic
film with comparable levels of efficiency.
Contact
Helios’s target customers include manufacturers of Liquid
Kan Shyi Herng, CEO
Crystal Display (LCD), Light Emitting Diode (LED) displays; Email: [email protected]
Tel: +65 9733 4653
and flexible electronics. The management is primarily www.heliosappliedsys.com
looking to Taiwan, Korea, Japan and China for key market
development. Quick facts
• Developed state of the art
fabrication tool
• Awarded TECS Proof-of-Value
grant in 2008
• Turned profitable in 2009
• Pilot production line expected
to complete in 2011
Seeking
• Partners to develop func-
tional optical film products
• Connections to major
manufacturers of display
technology

TECS Network security & data networking
In the modern information-age, the benefits

of an IT network are increasingly defined by our
ability to balance the risks and rewards of open,
global communications.
Dr Kostas Anagnostakis - CTO

Niometrics Pte Ltd
> Network security & data networking
For security-conscious government, finance, and other

organisations, there is a growing need to protect and
manage networks in an ever-changing landscape of
internal security and policy challenges.
The core offering of Niometrics is the Nio Policy Enforcer, a

best-of-breed application control and policy enforcement
solution. Nio addresses the deficiencies of existing
products, like traffic shapers and firewalls, with the ability to
control the growing number of protocols and applications
peddling traffic within enterprise networks.
Powered by a proprietary protocol recognition engine and

an application discovery system, the award-winning Nio
Policy Enforcer leads the industry in its ability to detect
more than 5,500 applications, protocols and services.
Contact
Dr Kostas Anagostakis, CTO
This technology enables deep visibility and granular Email: [email protected]
control over network traffic, taming harmful applications Tel: +65 8186 9464
www.niometrics.com
and illegal online activity.
Quick facts
With established regional presence in Singapore, Malaysia, • Spin-off from A*STAR Institute for
Infocomm Research
Hong Kong and US, its customers include Venture • Awarded SPRING TECS Proof-of-
Corp (manufacturing), BumiArmada (oil & gas), Redtone Value grant in 2009
• Received Frost & Sullivan New
(Telecoms), Pizza Hut (F&B), and Columbia University Product Innovation Award, APAC,
(higher education) in 2010
• Profitable as of early 2011
• Industry-leading detection capa-
Niometrics plans to penetrate into the datacenter, rolling bility that is 5 times better than
closest competitor
out a virtual appliance edition and integrating with
virtualisation infrastructure to help users better protect Seeking
their services on the cloud. • To raise ‘smart money’ to execute
on regional expansion plan

YOUNG ENTREPRENEURS
SCHEME FOR STARTUPS
YES! STARTUPS
What is it? • First-time entrepreneur (applicant must

This is a grant scheme of up to $50,000 not have registered a business or incorp-
for youths to set up innovative start-ups. orated a Limited Liability Partnership
(LLP) or Pte Ltd for more than 6 months
The grant can be used for business from the date of application; and
development expenses such as manpower • Key driver in the company
and operating expenses, purchase of
equipment, sof tware, materials and Interested start-up should possess the
consumables, acquisition of intellectual following:
property (IP) rights, professional services • New business/company (must not be
or marketing/promotion activities. incorporated for more than 6 months);
• Company’s main business activities are
For who? based in Singapore
Interested applicant should be: • Applicant must hold at least 50% equity
• Singaporean/PR, below 26 years old • Engage in high growth activities with
on the date of application. (Applicants substantial developmental content; and
18 years old and below must seek • Company has not received funding from
parental consent); the iJam Microfunding scheme (by
MDA)

Evaluation criteria?
Business proposal submission will be
evaluated based on:
• How innovative or novel the business
idea is
• Feasibility of business model
• Market potential of product/service
• Commitment of management team and
their skill sets to execute the idea
Level of support?
SPRING matches $4 for every $1 raised
through self-funding, schools or third-party
sources. The grant is capped at $50,000.
For example, an application for a $40,000
grant must be matched with a $10,000
investment.
How to apply?
For more information and on submission
details, please visit www.spring.gov.sg/
yesstartups.

YES! STARTUPS Biological air filtration system
Pervasive organic solutions in the market

today aspire to address various environmental
concerns, and we focus on improving air
quality.
Kris Soh - CEO/Founder

In Vitro Pte Ltd
> Biological air filtration system
In Vitro offers techno-organic solutions to air quality

problems that plague the world today. The management’s
biological sciences background enables them to apply
extensive R&D knowledge to pro-biotic technology and its
future life-enhancing possibilities.
Their core offering is represented by a device that

organically removes harmful airborne toxins known as
‘Volatile Organic Compounds’ (VOC). VOC levels are found
everywhere, but are highest in new or newly renovated
Contact
homes and offices. The device removes these toxic indoor Kris Soh Chin Kok, CEO
gasses with a patented airflow system, proprietary pro- Email: [email protected]
Tel: +65 6896 6758/
biotic solution and specialised plants. +65 9128 7865
www.invitro.sg
In Vitro targets mid to high-end consumers looking for Quick facts

organic solutions to improve health and individuals with • 2nd Runner-up Ideas.inc
Business Challenge in 2010
respiratory problems. Their products are marketed through by Nanyang Technological
University (NTU)
retail distributors and direct sales in Singapore.
• Developed commercially-ready
prototype and started production
phase
The company is currently operating from Singapore and • Partnership with NTU enables
actively seeking expansion to overseas markets in Asia and R&D engagement to improve
pro-biotic bacteria formulation
Western regions with demand for such green solutions. • Revenue-generating since 2011
• Ready to grow fast within next
two years
Seeking
• Expansion to pollution hotspots
such as Hong Kong and
Western US
• Potential investors with
$200,000 to facilitate expansion
in mass production and overseas
market plans

YES! STARTUPS Social Commerce Platform
In the online world, shopping is becoming

more social, fun and interactive. We aspire to be
the trendsetter of ‘new shopping.
Dickson Gregory, Vincent Lau and Damian Chow — Co-Founders

Paywhere Pte Ltd
> Social commerce platform
Consumers are spending more and more time in the

virtual domains of social media. Many retailers have a web
presence of some sort - Facebook page, website, blog etc.
– but find it daunting to create an online shop.
With Paywhere’s social commerce platform called

Tackthis!, it provides retailers with their own online shop
- including a synchronised inventory system - without the
hassle of creating one. The solution represents a seamless
and engaging buying experience for consumers via social
media channels, thereby boosting viral sales.
The technology enables retailers to create and tack a shop

widget to their Facebook/blog/website within minutes.
Besides being user-friendly to maximise online sales,
Tackthis! is also flexible and customisable to respective
retailers’ need.
Contact
Dickson Gregory, Vincent Lau,
To be successful in creating the right shopping experience Damian Chow, Co-founders
Email:[email protected],
for a brand, they first establish a clear understanding of the [email protected],
retailer’s positioning and their consumer behaviour, before [email protected]
www.tackthis.com
executing integrated internet marketing and social media
strategies. Quick facts
• Launched closed beta social
commerce platform
• Supported under the Yes!Startup
grant in 2010
Seeking
• Partnerships and connections
with developers, designers and
marketing agencies to grow
offerings in various markets

YES! STARTUPS Interactive digital conference tool
We introduce intuitive, simple, yet powerful

tool for a new level of interactive experience at
events.
Lyon Lim – Director

PigeonLab Pte Ltd
> Interactive digital conference tool
People now gather in ‘live’ and ‘virtual’ enviroments for

events such as conferences, networking and training
sessions. In most cases, the Question & Answer (Q&A)
session is included in most event programs. Sometimes
questions posed by participants could be irrelevant,
inappropriate or incoherently asked. As a result, it may
not turn out to be as engaging and lively as it should
have been.
Their key offering, Pigeonhole Live brings democracy and

order to the often erratic practice of Q&A. It empowers
every event attendee an equal chance to ask and vote for
the questions that interest them. The audience see the
questions and votes coming in live, in real-time on a large
Contact
projector screen or on their mobile device. Lyon Lim, Director
Tel: +65 9735 0671
With Pigeonhole Live, speakers can accurately address www.pigeonhole.sg
the specific concerns of the audience creating an effective
Quick facts
and highly engaging exchange of conversation between • Supported under the Yes!Startup
grant in 2010
the speaker and the audience, where the majority hear the • Covered a wide range of events
questions they want answered. from conferences, workshops,
video conferencing, to lectures in
Singapore
Organisers of workshops, conferences, web seminars, • Online self-service platform
launching in 2011
live telecast shows and video streaming, can now have
an effective yet simple way of organising and identifying
Seeking
questions to address, with moderator admin interfaces. By • Partnerships with event organis-
ers and venue providers locally
developing a self-serve online platform, interested parties
and overseas
can find out, demo and sign-up at very competitive rates • Connections and expertise for
regional market entry plans in
independently anywhere in the world. the MICE industry

INCUBATOR DEVELOPMENT
PROGRAMME
IDP
What is it? • Have a proven management team with

This is a grant for incubators and venture the necessary experience and expertise
accelerators to enhance their capability to effectively groom innovative start-
development programmes for innovative ups in the early stage into high growth
start-ups. companies.
• Have a sustainable incubation model
Incubation is critical to raise the success – either through investment into the ISUs
rate of innovative start-ups in their formative or to charge “sweat equity” for incubation
years; it accelerates the development of services.
start-ups by providing them with critical
resources and services. These include Note: Consultancy firms do not qualify.
assistance to raise financing, management/
technical guidance and mentorship, access What level of support?
to market and talents, infrastructure, shared IDP provides up to 70% grant support for
business services and equipment. qualifying cost items like:
• Programmes To Nurture Start-ups
For who? Costs of introducing programmes that
Interested parties should: help start-ups develop new products/
• Be full-suite incubators and venture services, obtain business financing,
accelerators with a unique value improve market access, etc
proposition and/or programme that cater • Mentoring Start-Ups
specifically to nurture innovative start- Hiring mentors to provide management
ups. The emphasis of the programme guidance to start-ups
should include access to markets/talents, • Operating Expenses
financing, entrepreneurship training, Costs incurred to market services/events,
management guidance and mentorship. hire incubator managers, train staff,

provide shared services/equipment for
start-ups, etc
How to apply?
If you are an incubator and provide access
to market, money, management and
know-how to help innovative start-ups, we
welcome you to contact SPRING to discuss
details of your programme/project. You
will need to work closely with SPRING to
ensure that the programme fulfils the IDP
guidelines and deliverables and add value
to the developmental needs of innovative
start-ups.
For more information and on submission

details, please visit www.spring.gov.sg/idp.

INCUBATOR DEVELOPMENT SCHEME
Getting to Know Local

Business Incubators
We highlight eight local incubators/venture
accelerators supported under the Incubator
Development Programme (IDP) introduced
by SPRING, to enhance the incubation
services available to nurture start-ups.
Business Angel Network

(Southeast Asia) Ltd
Entrepreneur’s
Resource Centre
iAxil Venture
Accelerator Centre
Mercatus Capital
Microsoft Innovation
Center
NUS Enterprise
Incubator
ODM Innovations Pte Ltd
Singapore Management
University Business
Innovation Generator

Business Angel Network
(Southeast Asia) Ltd
As an established network of members with Training

broad-ranging experience and extensive BANSEA organises 2-3 educational workshops
connections in business and technology since per year. Training entrepreneurs on the basics
2001, BANSEA is a resource-rich set-up for of being investor-ready forms part of its
innovative start-ups. Those with distinctive educational curriculum. In addition, BANSEA
technology, a clear business model and provides pitching training to shortlisted
strong competitive advantages could attract companies at its Focused Pitching Workshops.
investment interest from the members.
Fund Administration
Services offered by BANSEA BANSEA provides fund administration services
Access to Capital for angel funds whose partners are members of
BANSEA organises regular networking & pitching BANSEA. It currently services BAF Spectrum Pte
events for innovative start-ups to pitch business Ltd and Sirius Angel Fund Pte Ltd, pre-approved
proposals to members, gather feedback and Business Angel Funds under SPRING’s Business
gain potential access to angel capital. Angel Scheme.
Mentoring
Under BANSEA’s Start-up Mentorship www.bansea.org
Programme, executive members are committed Contact: Ms Jenny Law
to provide advice and offer leads to connect [email protected]
start-ups to business opportunities and angel Tel: +65 6777 7139
expertise within their network.

Entrepreneur’s Resource iAxil Venture Accelerator

Centre Centre
ERC specialises in practical training that helps Leveraging on more than 10 years of experience,
business owners and aspiring entrepreneurs iAxil is a one-stop centre providing a total solution
crystallise their business ideas into reality. to help entrepreneurs grow their ventures.
Services offered by ERC Services offered by iAxil

Business Accelerator Programme Venture Accelerator Programme
A 5-day programme helps aspiring entre- Assists start-ups to launch, grow and expand.
preneurs turn business concepts into imple- Programme comprises of modules focusing on
mentable strategies in a business plan. A business modeling, business/financial planning,
panel will select innovative startups with fund raising, market testing and expansion
strong potential for the Incubation Programme. planning.
Assessment is made based on the viability of
the business plan, compelling value preposition, Infrastructure
track record, character and X- factor of the Shared business facilities/services, and access
applicant. to interactive networking platforms.
Incubation Programme Global Market Access Programme

This phase focus on helping companies in Taps on Ascendas’ global net of partners to
the areas of business development support, support incubatees internationalise. Participating
marketing platforms, mentoring and providing start-ups undergo intensive practical workshops.
legal/HR/Finance advice, etc. Overseas experts could be assigned to advise
on implementation plans.
www.erc.com.sg Mentoring
Contact: Ms Claire Tng Has a pool of local and overseas experienced
[email protected] professionals in management, technology,
Tel: +65 6571 9593 business strategy and finance.
www.iaxil.net
Contact: Mr Jimmy Wong
[email protected]
Tel: +65 6513 4123


Mercatus Capital Microsoft Innovation Center
Mercatus is an angel group/venture accelerator The Microsoft Innovation Center (MIC) provides
keen in sectors such as biotech, IT, retail and promising start-ups with a comprehensive set
energy industry. Their active involvement and of software and technical assistance to help
commitment aims to guide entrepreneurs them grow.
succeed globally.
Services offered by MIC
Services offered by iAxil Innovation NEXT Programme
345 Strategic Incubation A 4-stage programme on web development
Xceleration Programme focusing on applications with the potential
A 12-month programme in three-focused areas; to deliver rich user experiences. It includes
Strategic Business Planning, Capitalisation and technology workshops, hands-on-lab and in-
Execution. Beyond investment interest and due depth practical assistance by technical experts
diligence, they assist to identify other potential and opens doorway through Microsoft’s
investors who can positively contribute in overseas links.
implementation plans.
BizSpark
Mentoring Designed to provide affordable software, market
Has a ready connection of willing industry support through Microsoft’s global network
professionals with interest to mentor and groom partners and company profiling on Microsoft
early-stage companies. Start-up Zone.
www.mercatus-capital.com www.microsoft.com/bizspark
Contact: Mr Harry Heng Contact: Mr Eugene Fabian
[email protected] [email protected]
Tel: +65 6776 7819 Tel: +65 6888 8899

NUS Enterprise Incubator ODM Innovations Pte Ltd
NUS Enterprise Incubator (NEI), part of NUS ODM Innovations acts as a micro-incubator
Entrepreneurship Centre, provides a compre- for start-ups as well as innovators and works
hensive and effective incubation programme closely with ODMasia in Hong Kong, to render
for start-ups. extended resources.
Services offered by NUS Enterprise Incubator Services offered by ODM Innovations

Mentorship Scheme Prototyping
Offers wide network of local business & foreign Aims to offer affordable prototyping solutions
visiting mentors in industry domains e.g. IDM through its links with local/overseas manu-
and Cleantech space) and business advisory. facturers, labs and workshops in tertiary
schools. Has an in house design team to assist
Infrastructure innovators in product development.
Full suite of incubation services from R&D
resources, office support, business skills work- Trade shows and exhibitions
shops to networking and pitching platforms. Partnering ODMasia in Hong Kong opens
up market exploration opportunities there
Marketing including China, through targeted trade shows
Leads to tradeshows/exhibits locally and and exhibitions.
overseas (e.g. Silicon Valley, Philadelphia,
Shanghai, Stockholm and Bangalore). Launched Mentoring
an internationalisation programme – designed Their group of mentors assists companies in
to provide a platform for promising start-ups to product development and commercialisation.
explore and gain access into global markets by
leveraging on NUS Enterprise’s global network.
www.odmsg.com
Funding Contact: Mr Hui Wingfeh
Manages several seed funding schemes; Clean- [email protected]
tech Start-up Grant, Young Entrepreneurs Start- Tel: +65 6446 2616
up (YES! Startup), Micro-Funding Scheme for
IDM projects and other in-house venture funds.
www.nus.edu.sg/enterprise/nec/vs/index.html
Contact: Mr Derrick Lee
[email protected]
Tel: +65 6516 3438

Singapore Management
University Business
Innovation Generator
As part of the SMU Institute of Innovation & Linkages with VCs

Entrepreneurship (SMU IIE), SMU BIG conducts Working closely with VCs – IDG Ventures
training courses to equip entrepreneurs with SEA and Tamarix, the VCs-in-Residence
innovation and business development. would actively contribute in various business
workshops and other exchange platforms for
Services offered by SMU BIG start-ups.
Tech-off Asia
A Y-Combinator type program and regional Mentoring
competition to identify good tech business Beyond sharing on market and industry
ideas. It also provides basic starting-up tools perspectives, and assisting in areas such as
and advisory services. early technology adoption, their commitment
could be extended to potential investment.
Entrepreneurship Training &
Development
First-time entrepreneurs attend one-week www.smu.edu.sg/centres/smubig/
“Innovation Validation” training, followed by a Contact: Ms Joanne Auyong
training module on “How to build a successful [email protected]
business”. These trainings provide innovative Tel: +65 6808 5388
start-ups an inclusive preparation phase.

ANGEL INVESTORS TAX
DEDUCTION SCHEME
AITD
What is it? How to participate (2 steps):

The Angel Investors Tax Deduction Scheme Step 1: Apply to SPRING Singapore to
(AITD) is a tax incentive which aims to obtain the “Approved Angel” Status.
stimulate business angel investments into Step 2: Once you are an “Approved
Singapore-based start-ups and encourage Angel”, make an investment in an eligible
more angel investors to add value to these Singapore start-up company and enjoy
start-ups. The scheme will be effective 50% tax deduction on your investments.
for qualifying investments made from 1
March 2010 to 31 March 2015, both dates How does it work?
inclusive. An approved angel investor who invests a
minimum of $100,000 in a qualifying start-
For who? up within a given year shall enjoy a tax
Interested and eligible individuals should deduction at the end of a two-year holding
be either: period based on 50% of his investment
• An Experienced Angel Investor; costs, subject to a cap of $500,000 of
• An Experienced/Serial Entrepreneur; investments in each Year of Assessment
• A Senior Management Professional/ (YA). The tax deduction will be offset
Executive against total taxable income.

How to apply?
Interested applicants are required to
provide the following documents/details:
• Application for Angel Investors Tax
Deduction Scheme Form
• Resume/Curriculum-Vitae
• Investment track record (include details
of how investor value-added to the
investees), if relevant; and
• Any other relevant information to demon-
strate the individual’s ability to contribute
actively as an investor without a formal
director/advisory role.
For more information on investment

criteria, conditions and submission details,
please visit www.spring.gov.sg/aitd.
For fur ther enquiries,

e m a i l [email protected].

USEFUL BUSINESS
RESOURCES
If you are keen to know more about other enterprise networks, funding
networks and other-related sites, which can be of useful business re-
source to you, here are some to start with.

BUSINESS INFORMATION ENTERPRISE DEVELOPMENT FUNDING NETWORKS
PORTALS CENTRES (EDC)
Business Angels Network
Action Community for EDC@ASME South East Asia (BANSEA)
Entrepreneurship (ACE) Association of Small and Tel: +65 6777 7139
Tel: +65 6279 3766/ Medium Enterprises www.bansea.org
+65 6279 3913 Tel: +65 6513 0388
www.ace.sg www.asme.org.sg DealFlow Connection
Tel: +65 6829 9805/
DP Information Group EDC@SCCCI +65 6829 9800
Tel: +65 6738 1900 Singapore Chinese Chamber www.dealflow.org.sg
www.dpgroup.com.sg of Commerce & Industry
Tel: +65 6337 8381 Singapore Venture Capital
EnterpriseOne www.sccci.org.sg/edc Association (SVCA)
Tel: +65 6898 1800 Tel: +65 6224 7001
www.business.gov.sg EDC@SICCI www.svca.org.sg
Singapore Indian Chamber of
EBIS@SBF Commerce & Industry
Singapore Business Federation Tel: +65 6508 0145 Participating Business
Tel: +65 6827 6828 +65 6222 2855 Angel Funds
Website: www.sbf.org.sg www.sicci.com
SPRING SEEDS Capital
SME Credit Bureau of EDC@SMa works closely with three
Singapore Singapore Manufacturers’ pre-approved private
Tel: +65 6223 1883 Federation business angel funds/groups
www.smecreditbureau.sg Tel: +65 6826 3020 to co-invest and nurture
www.edc.org.sg growth-oriented, innovative
SME Toolkit Singapore start-ups. Similar to SPRING
Tel: +65 6565 6161 EDC@SMCCI SEEDS, this is an equity
www.singapore.smetoolkit.org Singapore Malay Chamber of based co-financing option for
Commerce & Industry Singapore-based early-stage
Tel: +65 6293 3822 companies.
www.edc-smcci.sg


If the start-up is able to obtain OTHER USEFUL SITES
investment interest and
commitment from any of the Thinking about venturing
three business angel funds, overseas?
SPRING SEEDS Capital could International Enterprise
potentially match the intended Singapore (IE)
amount (dollar-for-dollar). Tel: +65 6337 6628
www.iesingapore.gov.sg
You may approach any of the
business angel funds directly Need advice in IP matters?
for their investment Intellectual Property Office
consideration. of Singapore (IPOS)
Tel: +65 6339 8616
BAF Spectrum Pte Ltd www.ipos.gov.sg
Ms Jenny Law
Tel: +65 6777 7139 Suggestions to cut business
Email: jennylaw@ red tapes?
bafspectrum.com Pro-Enterprise Panel (PEP)
www.bafspectrum.com Tel: +65 6332 7103
www.pep.gov.sg
Sirius Angel Fund
Ms Jenny Law Looking for professionals with
Tel: +65 6777 7139 flexible working terms?
Email: jennylaw@ Mums@Work
siriusangelfund.com.sg Email: [email protected]
www.sirius.com.sg/team_ (Ms Sher-li Torrey)
angel_fund.html www.mumsatwork.net
Accel-X Pte Ltd

Mr Edmund Yong
Tel: +65 6516 5451
www.nus.edu.sg/enterprise/
accelx.html

SPRING SEEDS CAPITAL PTE LTD
IS A WHOLLY-OWNED SUBSIDIARY OF
SPRING SINGAPORE
SPRING Singapore
Solaris, 1 Fusionopolis Walk,
#01-02 South Tower Singapore 138628
Tel: +65 6278 6666 • Fax: +65 6278 6667
www.spring.gov.sg

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SEEDING

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About SPRING SEEDS Capital invested in over 180 start-ups in various

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You can also contact us via email at

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10 SEEDING POTENTIAL, ENABLING ENTERPRISES

Asiatel provides advanced telephony and data solutions.

The existing customer base is in Singapore, Malaysia,

The company expects to establish a market presence in

Core competencies lie in the areas of telecoms business Contact

SEEDING POTENTIAL, ENABLING ENTERPRISES 11

We hope to make a difference in food safety

Donald Foo — CEO/Founder

12 SEEDING POTENTIAL, ENABLING ENTERPRISES

The issue of food safety has gained increasing global

Bio-X has developed a low cost, portable sensor that is

healthcare sectors (e.g. Tuberculosis screening), as well as Seeking

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The market has waited for a solution like ours

Matthew Tan – CEO

14 SEEDING POTENTIAL, ENABLING ENTERPRISES

With ecological concerns on the rise, a fundamental global

The hydrocavitational technology works on circulation

Australia. The management team are also planning to Seeking

SEEDING POTENTIAL, ENABLING ENTERPRISES 15

The demand for well-placed, cost-saving

Nicholas Cirillo – COO

16 SEEDING POTENTIAL, ENABLING ENTERPRISES

At sea, and in remote locations, the provision of telephony

THISS Technologies has developed a unique combination

Their core product offering is a satellite terminal that allows

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18 SEEDING POTENTIAL, ENABLING ENTERPRISES

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Recognising waves of opportunity is critical

Alan Sevugan – CEO/Founder

20 SEEDING POTENTIAL, ENABLING ENTERPRISES

FriarTuck offers software solutions to allow businesses to

The system factors in staff skill mix, shift bidding prefer-

It is ideal for sizeable workforces with complex employee

SEEDING POTENTIAL, ENABLING ENTERPRISES 21

Game Ventures is gaining greater prominence

22 SEEDING POTENTIAL, ENABLING ENTERPRISES

The modern cash-rich, time-poor generation presents

Game Ventures builds and markets competitive multiplayer

Its portfolio of popular games include: Quick facts

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SEEDING POTENTIAL, ENABLING ENTERPRISES

SEEDING POTENTIAL, ENABLING ENTERPRISES

SEEDING POTENTIAL, ENABLING ENTERPRISES

SEEDING POTENTIAL, ENABLING ENTERPRISES

SEEDING POTENTIAL, ENABLING ENTERPRISES

SEEDING POTENTIAL, ENABLING ENTERPRISES

SEEDING POTENTIAL, ENABLING ENTERPRISES

SEEDING POTENTIAL, ENABLING ENTERPRISES

SEEDING POTENTIAL, ENABLING ENTERPRISES