Support for startups affected by coronavirus

Mentorship programme: We are crowdsourcing help for startups affected by the Covid-19 virus. Feel free to share the help you need in the spreadsheet here.

Here are the curated information, links and resources to help you tide over the crisis:
First things first, something you Must read:
How Jack Ma helped his company survive the Sars Crisis
https://www.businessinsider.sg/how-alibaba-survived-2003-sars-crisis-under-jack-ma-2020-3?r=US&IR=T

Singapore

Click here for Comprehensive list by ACE

Quick overview:
Measures announced by government:
The Singapore Government has been swift in its response to the COVID-19 virus and the economy downturn, devoting billions to firms to help them weather its impact.

Resilience Budget
Those who are self-employed will receive direct cash support through a Self-Employed Person Income Relief Scheme, which offers S$1,000 per month to eligible self-employed people for nine months.
Self-employed people will receive enhanced hourly training allowances under the Self-Employed Person Training Support Scheme, for them to use the downtime to train and upskill.
From May 1, the hourly training allowance will be raised from S$7.50 to S$10. The training support scheme will also be extended to December this year.

COVID-19 relief package
Companies to receive 75 percent wage subsidy in April for the first S$4,600 of each local employee’s wages
Government to waive foreign worker levies due in April
Companies to get S$750 rebate for each employee holding a work permit or an S-pass
Income relief for self-employed persons to be extended to those who also have earnings from employed work and own private properties

Jobs Support Scheme
Firms in the food services sector will receive 50 per cent co-funding per local worker, while firms in the aviation and tourism sectors – the most badly affected sectors – will receive 75% co-funding.
Companies and self-employed people will get an automatic deferment of income tax payments for three months.
For businesses in other non-residential properties, such as offices and industrial properties, a property tax rebate of 30% will be granted.
2 months of rental waiver for commercial tenants.

Easing the financial strain on individuals and SMEs caused by the COVID-19 pandemic
The Monetary Authority of Singapore (MAS), together with the Association of Banks in Singapore (ABS), the Life Insurance Association (LIA), the General Insurance Association (GIA), and the Finance Houses Association of Singapore (FHAS), today announced a package of measures, read more here.

This is a living list: we’ll keep updating it as the situation develops. Thank you for your numerous contributions, and if we’re missing anything else, please let us know: elise.tanyeeling (at) gmail.com.

At Gratitude.vc, we aim to support startups to tide over the covid-19 period by providing free consulting, advisory and mentoring. Simply book a free consultation now.

Grants and Loans

• Facebook – Small Business Grants Program

Enterprise SG – Temporary Bridging Loan Program (max raised from S$1 million to S$5 million)
Enterprise SG – Enterprise Financing Scheme (EFS)

SME Working Capital Loan (max raised from S$600,000 to S$1 m)
SME Fixed Assets Loan
Venture Debt Loan
Trade Loan (max raised from S$5 million to S$10 m)
Project Loan
Mergers & Acquisitions Loan

Working capital for SME and Startups www.finaqe.com

Long Hash Global virtual hackathon to: Build impactful solutions to address COVID- 19 to do good for society; Click here to find out more.

Investment support schemes

Startup SG Equity

This government and private co-investment scheme catalyses financing of tech startups with strong IP and global potential. READ MORE

SEEDS Capital
SEEDS Capital manages co-investment funds under Startup SG Equity and co-invests in scalable innovative startups with strong IP. READ MORE

EDBI
A government-linked fund, EDBI invests in promising companies across diversified industries ranging from advanced manufacturing, consumer, emerging technologies, healthcare, ICT and logistics. READ MORE

Philanthropists

• Bill & Melinda Gates Foundation – commit up to $100 million for the global response to the 2019 novel coronavirus

Corporate Support

• Amazon – Amazon Chime (Free for first-time users until June 30th)
Free AWS credits and more https://lnkd.in/fe9Fzn5
Free 30-minute high level legal consultation (Zoom meeting) with one of the lawyers at Simmonds Stewart
Resources and articles by Golden Gate Ventures

Ecosystem

• Collated Startup resources by ACE
Algolia – Free Pro search plan for COVID-19 sites and apps
Citymapper – Mobility Index
Aggregators of deals and offers from startups in SingaporeSupportstartups.com
Similar to above, Discounts from APAC startups for the community
christopherquek.com for startup resources
Hiring/ finding jobs at startupsSEAriously Awesome People List – Startup COVID-19 Layoffs
Block71/ NUS Enterprise aggregation of Startup support and resources
Best Practices for Founders by top VCs

For remote working

Best practices shared by top tier VCs
Work Remotely With Taskworld | Try Taskworld @$0 For 30 Days‎
8×8 Video conference

Online Learning

• Learn about Business continuity measures in this course by Gnowbe and accredited by Temasek Polytechnic
Aventis: 20% Discount for all “Live Streaming” Registration (register by 30th April) with promo code “SGUNITED”. View List of Live Streaming Courses

At Gratitude.vc, we aim to support startups to tide over the covid-19 period by providing free consulting, advisory and mentoring. Simply book a free consultation now.

Support measures for Startups affected in Europe

https://sifted.eu/articles/coronavirus-support-startups/

Credits:

Thanks to Arnaud Bonzom for adding on to the useful resources above!

At Gratitude.vc, we aim to support startups to tide over the covid-19 period by providing free consulting, advisory and mentoring. Simply book a free consultation now.

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