FAQs

Frequently Asked Questions

Eligibility

500 Ignition Singapore is primarily targeted at the following individuals:

  • Must be a Singapore Citizen or Singapore Permanent Resident.
  • Must not be the owner of any active business entity* (sole proprietorship is permissible).
  • Must not have received any funding from any government organizations.
  • Should not be under any form of employment (freelancers and individuals who currently have a sole proprietorship incorporated are permissible).
  • Students who are in the final year of studies** (for both full time and part time).
  • Able to commit full-time to the Program for 12 weeks.
  • Able to commit full-time should the start-up take off after the 12-week Program.

* Subject to review on a case-by-case basis.

Please click here for a detailed listing of categories of individuals who are eligible for this Program.

Q. As an individual, must I have a business plan to participate in 500 Ignition Singapore? What is the selection criteria for participation in the Program?

A. The Program is for aspiring entrepreneurs who may be lacking in entrepreneurial skills, viable business plans or ideas to do so, need help to develop, launch and scale their business plans, and need training and coaching to start.

In selecting participants, we will take into consideration factors such as aptitude, expertise, background and related experience of the applicant.

Participants will also need to fulfill the eligibility criteria as set out here.

Q. Can foreigners apply for 500 Ignition Singapore?

A. Yes, foreigners may apply for the program.

Q. I currently have a live company registered with ACRA. Do I qualify?

A. The applicant’s business entity should not have been registered or incorporated for more than 6 months at the point of application to 500 Ignition Singapore. If your business entity has been registered for more than 6 months or you have more than one business entity registered under your name, you may be eligible to participate (subject to review on a case-by-case basis).

Q. What if I founded a company a long time ago – am I considered a first-time entrepreneur still?

A. 500 Startups and ESG will be assessing applications with such scenarios on a case-by-case basis, acknowledging that there have been entrepreneurs who started up and ended operations in the past, and are looking for a second chance of starting a successful venture.

Q. What if I have already registered a sole proprietorship?

A. You will still be eligible if you have a Sole Proprietorship, provided that you can be full time committed to 500 Ignition Singapore and have the intention of starting the company at the end of the Program.

Q. Am I eligible for 500 Ignition Singapore if I have started a business entity (LLP/Pte Ltd) before but am no longer working on it?

A. You will be eligible if you meet the following criteria:

  • Business entity that has ceased operation on ACRA; and
  • At least one of the following criteria is met:
  • Participant’s role in previous business entity should be dormant and non-active;
  • Business entities should be non-commercially viable/non-revenue generating; or
  • Business entity was not a startup with an innovative business model or products (e.g. someone who ran a profit-making franchise).

Q. Do I need to form a team before joining 500 Ignition Singapore?

A. No. Individuals can apply for the Program.

Q. Do I need to have an idea before joining?

A. No, you do not need to have a pre-existing idea. We will guide you through the process of developing a new start-up idea as part of the Program.

Q. If I am working on an existing idea, can I join?

A. Yes, so long as you have not registered a company for your idea. If you have registered a company for your idea, refer to question above.

Q. What happens after 500 Ignition Singapore?

A. The new ventures formed can apply for the Startup SG Founder “Start” track, where they will be assessed based on the readiness and robustness of their new businesses. For details of the grant, please visit the following website.

Have more questions?

Feel free to contact us at 500ignitionsg@500startups.com