TechInAsia: So you got a great tech idea and want to develop it into a MVP? At the idea stage, it is very hard to get angels to fund you. That is where the iJAM.Reload development grant (or iJAM for short) comes in, to support early stage start-ups get off the ground in building their product.
The iJAM program, run by the good people of MDA IDMPO, has been in existence for about four years now, with many Singapore start-ups benefitting from this program. In short, the program gives out up to S$150k in development grants (S$50k Tier-1 and S$100k Tier-2), combined with a S$100k co-investment during Tier-2, to give a total of S$250k in the program.
In the past, there’s been a lot of confusion as to what this development grant can do or not do. Tech in Asia wrote an article in 2013 to help clarify those confusions. Since then, the program has vastly improved in terms of administration.
Angels Gate Advisory, one of the ten appointed iJAM incubators, receives about an average of 15 queries per week. And despite having a detailed information on the iJAM website, we found many other questions being asked. To help everyone along, we at Angels Gate have put together an FAQ specifically on the Tier-1 level. We hope it will give you a decent informed decision on whether the iJAM program is right for you.