Unlocking Startup Funding: A Deep Dive into Singapore’s Licence One (Business Grants Portal) & What It Means for Your Early Stage Business

Introduction

Starting a business in Singapore has always been attractive thanks to its pro-business ecosystem, strong government support, and clear regulatory framework. For early-stage founders, however, the challenge is often finding the right funding and support structures to survive beyond the first year. This is where Singapore’s Licence One, more commonly known today as the Business Grants Portal (BGP), becomes essential.

The portal centralises the application process for grants, licenses, and permits into a single digital platform. This streamlines what was once a complex and time-consuming process. For entrepreneurs, it represents more than just convenience — it’s the foundation of a funding ecosystem designed to help startups grow smarter and faster.

What is Licence One (Business Grants Portal)?

Licence One was launched by the Singapore government as part of its Smart Nation initiative, with the aim of simplifying business administration. In its modern form, the Business Grants Portal allows companies to apply for multiple government grants through one centralised login. Instead of navigating different agencies and overlapping requirements, founders can access resources through a single gateway.

For startups, this means better access to schemes that support productivity improvements, digitalisation, internationalisation, and sector-specific development. By using the portal, you eliminate repetitive submissions and reduce administrative burden, which is especially critical when you have limited manpower and need to focus on growth.

Why Singapore Created the Portal

The Singapore government recognised that fragmented processes were a barrier to innovation. Previously, founders had to submit similar documents to different agencies, wasting both time and resources. This created friction, particularly for small companies without dedicated compliance staff.

The solution was to build Licence One as a digital-first platform that integrates approvals, funding, and monitoring into a single dashboard. Today, the Business Grants Portal not only simplifies submissions but also improves transparency. Founders can track their application status, understand what’s missing, and prepare for future compliance with less stress.

Types of Grants Available Through the Portal

Through the Business Grants Portal, companies can access a wide variety of schemes. Some of the most relevant for startups include:

• Productivity Solutions Grant (PSG): Supports companies in adopting pre-approved digital solutions and equipment to improve efficiency.
• Enterprise Development Grant (EDG): Funds up to 70% of qualifying project costs for companies expanding internationally or enhancing innovation.
• Market Readiness Assistance (MRA): Helps businesses break into overseas markets with funding for marketing, overseas set-up, and market research.
• Sector-Specific Schemes: Depending on your industry, additional grants such as Agri-Food Cluster Transformation or Energy Efficiency Fund are accessible through the portal.

By centralising these programs, the portal creates a one-stop shop for funding early growth initiatives.

Benefits for Early-Stage Startups

For a new startup, cash flow is often the biggest challenge. Grants can offset the costs of software adoption, consulting services, or overseas expansion. The Business Grants Portal allows early-stage businesses to stretch their limited capital further.

Another advantage is credibility. Securing a government grant signals to investors and customers that your company has been vetted and supported by a trusted authority. This enhances your positioning in a competitive market. By using the portal, you’re not only securing funds but also building long-term credibility.

How the Portal Works in Practice

Accessing the Business Grants Portal requires a CorpPass account linked to your company’s UEN (Unique Entity Number). Once inside, you can browse available grants based on your industry and stage of growth. Applications are guided, so you know exactly which documents and details are needed.

After submission, you can log into the portal at any time to check on your application status. Notifications ensure you don’t miss key updates. This saves you from unnecessary delays and helps you plan your financial strategy more confidently.

Common Challenges and Misconceptions

Many new founders assume the portal is only for larger, more established companies. This is a misconception. Most grants have categories or conditions specifically tailored to SMEs and startups. Even if your company is in its first year with minimal revenue, you may still qualify.

Another challenge is documentation. While the portal simplifies submissions, you still need accurate accounts, projections, and supporting documents. Startups that fail to prepare these often face delays or rejections. Engaging with an advisor or accountant early on can save you time and increase your chances of approval.

How Licence One Fits Into Singapore’s Startup Ecosystem

The Business Grants Portal is more than just a platform — it reflects Singapore’s long-term strategy to encourage entrepreneurship. By centralising funding and compliance, the government reduces the administrative barriers that typically discourage early-stage innovation.

This aligns with other pro-startup initiatives, such as Startup SG, incubator programmes, and tax incentives for new companies. Together, these policies create an ecosystem where founders can focus on building their product and scaling their business without being dragged down by red tape.

Practical Recommendations for Startups

If you’re an early-stage company considering grant applications, here are a few practical steps:

• Get Your Accounts in Order: Even if you have few transactions, clean bookkeeping signals professionalism.
• Match Grants to Your Goals: Don’t apply for everything. Focus on grants aligned with your strategy, whether that’s productivity tools, market expansion, or innovation.
• Leverage Professional Help: An advisor familiar with BGP can ensure your applications are complete and compliant.
• Plan Beyond Funding: Grants should accelerate your roadmap, not replace a sustainable growth strategy.

By approaching the portal strategically, you maximise your chances of not just securing funds but using them effectively.

Case Study: A Startup Success Story

Consider a Singapore tech startup in its first year, looking to digitise internal processes. By applying through the Business Grants Portal, it secured the Productivity Solutions Grant. The funding allowed the company to implement cloud-based accounting software at a fraction of the cost.

This investment freed up manpower, improved compliance tracking, and gave the founders better visibility over their cash flow. Within a year, the company was in a stronger position to pursue the Enterprise Development Grant for overseas expansion. The portal created a stepping-stone approach to growth.

The Future of Licence One and BGP

As Singapore’s economy continues to evolve, the Business Grants Portal will likely expand in scope. We can expect greater integration with AI, more predictive recommendations on eligible grants, and a stronger focus on sustainability-driven initiatives. For founders, this means future funding opportunities will be more targeted and easier to access.

Staying informed about updates to the portal ensures your business remains competitive. Founders who adapt quickly to new schemes will always be one step ahead.

Conclusion

For early-stage businesses, Singapore’s Licence One (Business Grants Portal) is more than just an administrative tool. It’s a gateway to funding, credibility, and growth opportunities that can define the trajectory of your company. By understanding how it works, preparing the right documents, and applying strategically, startups can unlock resources that were once out of reach.

In today’s competitive market, every dollar and every hour saved counts. The Business Grants Portal helps startups focus on innovation and scaling, not paperwork. For founders determined to build lasting companies, mastering this tool is not optional — it’s essential.