Crystal Horse Investments Pte Ltd is one of the ten approved ‘iJam Reload’ incubators in Singapore. We are always on the lookout for innovative, scalable, and credible startup companies to incubate through the iJam Reload incubation scheme.
Once a startup company successfully obtained approval from MDA, the company will receive a S$5,000 investment instantly from Crystal Horse, coupled with a S$50,000 grant from MDA during the Tier 1 phase.

 

Tier 1

timeline / process 6 to 9 months Innovative Idea/Product In the IDM space Scalable Ready to build or iterate your MVP (Minimum Viable Product) Present new plan and Roadmap to incubator, third party investors and people from the industry Need approval of Incubator Need approval of Expert Panel Need approval of MDA after ALL approvals S$5,000 investment from Crystal Horse S$50,000 reimbursement on Singapore spendings Several (interim) milestones to achieve Closing talk / presentation with MDA

After completing and meeting several milestones, the startup is expected to proceed to the Tier 2 phase whereby Crystal Horse (through investment) and MDA (through a grant) will put in another S$100,000 each. Crystal Horse is open to co-investing in Tier 2, especially with value added investors.

Tier 2

timeline / process 9 to 12 months Present what you have done in Tier 1, including What you have learned as entrepreneur Status product Status of your business (traction) Present new plan and Roadmap to incubator, third party investors and people from the industry Need approval of Incubator Need positive comments from later stage investors and industry people Need approval of MDA for Tier 2 after all approvals and positive signs of third parties Minimum of S$100,000 investment from Crystal Horse and other investors S$100,000 grant from MDA on Singapore spendings Several (interim) milestones to achieve Closing talk / presentation with MDA

At Crystal Horse, we understand that speed is of an essence for all startup companies. Owing to this belief, we promise and deliver lightning speed assistance to all our incubatees.

Besides funding, we also help our incubatees to grow and scale their businesses to other countries in SEA. Through our extensive networks and connections around the globe, our incubatees can expect to benefit from this and receive the appropriate connections and assistance that they deserve. Finally, Crystal Horse also assists our incubatees in the areas of legal, accounting, marketing, technical and business development for no additional charges.

 

Eligibility Criteria

Applying start-ups should meet the following criteria:

1. Having an asset value of not more than S$200,000;
2. Having an operational period of not more than 5 years in aggregate;
3. No prior government grants (including but not limited to Spring Singapore’s Startup Enterprise Development Scheme (SEEDS), Young Entrepreneurs    Scheme for Start-ups (YES! Start-ups), Action Community for Entrepreneurship (ACE) Start-up Grant or Business Angel Funds (BAF) and National Research Foundation’s Technology Incubation Scheme (TIS) having been received; and
4. Not having achieved more than S$200,000 in external/3rd party investment.The startup must eventually be registered as a legal entity and be incorporated in Singapore.
5. At least one local full-time founder, who shall constitute at least 20% of the Project Members; or holds at least 20% equity stake of the Appointed Project Entity.
6. All part-time founders will not be entitled to receive any wages.
7. Definition of founder: Anyone in the company that holds equity – however minuscule.
8. At least one founder must be a technical person.
9. Projects must have an innovative element that would be relevant in the R&D and technology sphere within the IDM sector.
10. Start-ups shall be subject to a cap of 30% equity participation by the Incubator and/or the Investors in aggregate, in the Project Entity.

Please contact us if you have more questions.