Raring To Start Your Own Business In Singapore?

Raring To Start Your Own Business In Singapore

In August 2012, three undergraduates from the National University of Singapore had a spark of an idea. They thought, “Why should we not make it simple for Singaporeans to sell things they no longer need but do not have the means to do so?” From that seed of a thought spawned the mobile app Carousell, which went on to be a major success and was subsequently acquired by the Indian Digital Services Network, To The New. However, the founders of Carousell did not have it easy. They needed capital to fuel product development, hire staff, and afford server hosting and web services.

How did they obtain the funding they needed? The three entrepreneurs behind Carousell were beneficiaries of the Action Community for Entrepreneurship (ACE) startups grant, which gave them the much needed boost to propel their business forward to the mammoth success they achieved today.

A funding support meant to assist first-time entrepreneurs, the ACE startups grant has been the pillar of support for many entrepreneurs to emerge successfully in the competitive Singaporean marketplace. The grant can help entrepreneurs to pay for manpower costs, operating expenses, equipment, software, materials, consumables, IP rights, professional services, marketing and promotional activities. Here are some of the common questions many potential entrepreneurs wonder about the ACE startups grant.

Read more about starting your own business at Rikvin.com.

      • Raring To Start Your Own Business In Singapore