STB shells out $5m for tourism entrepreneurs

Digital vision for visitors?

According to a release, successful applicants of the recently-launched S$5 million Kickstart Fund can benefit from mentorship guidance and support from industry leaders during the execution of their project. The Kickstart Fund is an incentive scheme aimed at supporting untested yet innovative lifestyle events and concepts with tourism potential.

The mentors are selected based on their in-depth market knowledge and wealth of experience in their field. STB will continue to identify and engage industry leaders to be involved in the mentorship programme.

The Kickstart Fund, which supports experimental concepts across the lifestyle sectors of arts, entertainment, sports, retail and dining, will hold quarterly calls for application till its expiry in March 2016.

Examples of projects that may be supported by Kickstart include pop-ups, live events, and services such as art and culinary tours. The first cycle for Kickstart has opened for applications till 28 June and the form can be downloaded from www.stb.gov.sg.

Applicants will be evaluated by a panel comprising STB directors, industry professionals and representatives from government agencies championing the development of lifestyle industries.

Evaluation criteria include uniqueness of their proposed concept and its tourism potential, the soundness of their business plan, and the track record and competency of the management team. Successful applicants will receive funding support of up to 50 per cent of qualifying costs, capped at a maximum of S$75,000 per project.

The next cycle for Kickstart Fund will open for application in September 2013.