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How To Be Accepted Into a Startup Incubator in Southeast Asia

Start-up incubators are programs that provide early-stage companies with resources, mentorship, and workspace to help them to get off the ground and start growing. Incubators are typically focused on a specific industry or sector and some offer funding in exchange for a small equity stake in the start-up. If you are an entrepreneur looking to enroll in an incubator program, the following steps can increase your chance of success.

Research incubators specific to your industry or location:

Identify the incubators that are relevant to your industry and location. There are many incubators to choose from; it is important to find one that aligns with your business goals and values. You can search online directories such as AngelList or Seed-DB to find incubators that align with your business based on industry or location. You can also reach out to other entrepreneurs or professionals within your industry for recommendations.

Review the application requirements:

Once you have identified incubators that you are interested in, it is important to review the application requirements and make sure that you meet the eligibility criteria. Incubators typically have specific requirements regarding the company’s stage of development, type of business, and professional team. Deadlines and application procedures may differ depending on the incubator you apply to, so it is important to carefully read the instructions and follow them to the letter.

Prepare a strong application:

A strong application is crucial for getting into a start-up incubator. Your application should clearly articulate your business idea, the problem it solves, and the value it brings to the market. You should also describe your team, your progress to date, and your plans for growth. Including a pitch deck or a video pitch with your application can help bring your business to life.

Network and seek introductions:

Incubators often receive a large number of applications, and the competition can be fierce. One way to increase your chances of acceptance is by properly leveraging your networking skills. Seek out individuals within your industry who can introduce you to people involved with the incubator. Strive to introduce yourself to incubator mentors, advisors, and alumni. Personal introductions can help give you an edge and make your application stand out.

Be persistent:

If you are not accepted into a start-up incubator on your first attempt, don't be discouraged. It is common for entrepreneurs to apply to multiple incubators before being accepted. Take the feedback that you receive and use it to improve your business and your application. With persistence and hard work, you can increase your chances of getting into a start-up incubator and taking your business to the next level.

Consider alternative options:

The purpose of an incubator is to provide businesses with experienced and professional guidance during the early stages of their development. When looking for an incubator, you should also consider other resources that can provide similar types of guidance to your company. Avenues similar to start-up incubators include:

  • Start-up accelerators are similar to incubators but typically with more intensive programs and shorter durations.
  • Co-working spaces or business accelerators provide access to resources and networking opportunities.
  • Mentorship or advisory services help you to develop your business and gain valuable insights and guidance.

Be prepared to give up equity:

Some start-up incubators and accelerators require entrepreneurs to give up a small equity stake in exchange for the resources and support that they provide. This can be a significant decision, as it means giving up a portion of your ownership in the company. It is important to carefully consider the terms of the equity agreement and make sure that it is fair and aligns with your long-term goals for the business.

Stay focused on your goals:

It is important to stay focused on your long-term goals and continue to work hard to develop and grow your company. Incubators and accelerators can provide valuable resources and support, but your business will not thrive on the support of an incubator alone. The success of your business will depend on your ability to execute your vision, overcome challenges, and build a strong team.

Getting accepted into a start-up incubator can be challenging, but the steps outlined above can increase your chances of getting accepted into a start-up incubator. With the support of an incubator and a strong drive and commitment to your vision, you can set yourself on a path that will take your business to the next level.

Nicky Minh

CTO and co-founder

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How to Write a Business Memo For Startup Investors

An investment memorandum, also known as a private placement memorandum (PPM), is a document used to provide information about an investment opportunity to potential investors. A PPM is typically used by start-ups or early-stage companies that are seeking funding from private investors, such as venture capital firms or angel investors.

A PPM is an important tool for entrepreneurs. It demonstrates the value of their business and motivates investors to provide funding. Below are the different sections you will want to include in your PPM to adequately present the information investors want to know about your business and the opportunity being offered.

  • Define the purpose of the memorandum: Your first step is to define the purpose of the document. The purpose should be clearly stated in the introduction of the PPM and should include information about your company, the product or service being offered, and the funding being sought.
  • Provide an overview of the company: Explain your company’s mission, vision, and values. You should also include information about your company’s team, business model, and progress made to date. The purpose of this section is to clarify the general direction and goals of your company.
  • Describe the product or service: Provide a detailed description of the product or service, as well as information about the target market and the unique value proposition of your company. You should also include any relevant market research or data points that demonstrate demand for your product or service.
  • Outline the funding request: Outline your funding request and the specific terms of the investment. This should include information about the amount of funding sought, the valuation of your company, and the terms of equity or debt being offered. You should also include any relevant financial projections or assumptions that support your funding request.
  • Describe the use of proceeds: Your description should include a detailed breakdown of the planned expenses and any milestones or benchmarks that will be achieved with the funding. The purpose of this section is to show how the funds will be used to support the growth and development of your company.
  • Disclose any risks: Disclose any risks or uncertainties associated with the investment. This should include any legal, financial, or operational risks that your company is facing. It is important to be transparent and honest about risks. Investors will want to understand the potential pitfalls of the investment.
  • Include relevant legal documents: The final section should include any relevant legal documents, for example, the articles of incorporation, company bylaws, and any relevant agreements or contracts. It is important to include these documents to provide transparency and to ensure that the investment is legally sound.

Final Thoughts

A private placement memorandum is a crucial tool for start-ups and early-stage companies that are seeking funding from private investors. By following the template above, you can create a compelling PPM that effectively communicates the value of your business and inspires investors to take action. It is important to remember that the investment memorandum is just one part of the funding process. Be prepared to answer follow-up questions and engage in dialogue with potential investors. With a well-crafted investment memorandum and strong presentation skills, you can increase your chances of success and secure the funding that you need to grow and develop your business.

An investment memorandum plays an important role for those seeking private financing. However, your business may also want to consider non-traditional investment options. Jenfi offers loans to businesses focused on growth and marketing, giving you another option for growing your business.

Nicky Minh

CTO and co-founder

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Your 2023 Business Metrics Glossary

Effective business management requires the ability to track, measure, and analyze key performance indicators (KPIs) that reflect the health and success of the business. It is important to have a clear understanding of the various business metrics that are relevant to your business and the specific goals that you are trying to achieve. Below we provide a concise glossary of common business metrics that every business owner should be familiar with.

Acquisition cost (CAC):

Acquisition cost (also known as customer acquisition cost) is the cost of acquiring a new customer, including marketing and sales expenses. CAC is an important metric for businesses that rely on customer acquisition to drive growth. It helps to determine the efficiency and effectiveness of marketing and sales efforts.

Churn rate:

Churn rate is the percentage of customers who cancel their subscriptions or stop using a product or service over a given period. Churn rate is an important metric for businesses that rely on recurring revenue. It reflects the ability of the business to retain long term customers.

Customer lifetime value (CLV):

Customer lifetime value (also known as lifetime customer value) is the total revenue that a customer is expected to generate over the course of their relationship with the business. CLV is an important metric for businesses that rely on customer retention, as it can show which customers have the potential to create the most long-term value for the business.

Gross margin:

Gross margin is the percentage of revenue left after the direct costs of producing a product or service have been subtracted. Gross margin is an important metric for businesses that produce and sell physical products. It measures the efficiency and profitability of the production process.

Monthly recurring revenue (MRR):

Monthly recurring revenue (also known as recurring revenue) is the monthly revenue generated from subscriptions or recurring services. MRR is important for businesses that rely on recurring revenue. This metric is used to establish the stability and predictability of a business model.

Net promoter score (NPS):

Net promoter score (also known as customer loyalty score) is a measure of customer satisfaction and loyalty. NPS is calculated by asking customers to rate their likelihood to recommend the product or service on a scale of 1-10, and then dividing the responses into three categories: promoters (9-10), passives (7-8), and detractors (0-6). NPS is an important metric for businesses that rely on word-of-mouth marketing and customer referrals. It uses direct customer feedback to assess customer satisfaction and loyalty.

Return on investment (ROI):

Return on investment (also known as return on capital) is a measure of the profitability of an investment. ROI is calculated by dividing the net profit of an investment by its cost and expressing the result as a percentage. ROI is an important metric for businesses that are evaluating the performance of their investments. It shows how efficiently and effectively they use capital.

Traffic-to-lead ratio:

Traffic-to-lead ratio is the ratio of website visitors to leads generated. Traffic-to-lead ratio is an important metric for businesses that use their website as a marketing and lead generation tool. It reflects the effectiveness of the website in converting visitors into leads.

Final Thoughts

Remember: tracking and analyzing business metrics is crucial for businesses of all sizes and across all industries. Understanding the key metrics relevant to your business can help you make informed decisions about your operations, marketing, and growth strategy. However, these metrics should not be viewed in isolation, but as part of a broader set of data and indicators. Together these will provide a holistic view of the health and success of your business. By tracking the right metrics and using them effectively, businesses can gain valuable insights and make data-driven decisions that drive growth and success.

Nicky Minh

CTO and co-founder

2023 Essential Startup Glossary

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2023 Essential Startup Glossary

Starting a business can be overwhelming, especially for those new to the world of entrepreneurship. One of the most common challenges entrepreneurs face is navigating the complex and jargon-heavy world of start-up terminology. In this article, we provide a brief glossary of common start-up terms that every entrepreneur should know.


An accelerator is a program that provides start-ups with mentorship, resources, and networking opportunities to help them grow and scale their businesses. Accelerators are typically focused on a specific industry or sector, and often offer funding in exchange for a small equity stake in the start-up. In contrast to incubators, accelerators are short-term programs that support businesses at stages following the development of a minimum viable product. Acceptance into an accelerator is often more competitive than incubators.

Angel investor:

An angel investor is an individual who provides capital to start-ups in exchange for ownership equity. Angel investors are high-net-worth individuals looking to invest in early-stage companies. They typically provide mentorship and guidance to the founders.


Bootstrapping is the process of starting and growing a business with little or no outside funding. Bootstrapping can involve using personal savings, relying on revenue generated from customers, or finding creative ways to finance the business.

Burn rate:

Burn rate is the rate at which a start-up is spending its available cash. Burn rate is an important metric for start-ups. It can be used to help manage finances and make informed decisions about how to allocate resources.

Capitalization table:

A capitalization table (or "cap table") is a spreadsheet that outlines the ownership structure of a company. A cap table includes the types and amounts of equity that have been issued to founders, investors, and employees.

Convertible Note:

A convertible note is a type of short term debt that can be converted into equity at a later date, typically when the company raises a round of funding. Convertible notes are often used by start-ups to bridge the gap between seed funding and a Series A round.

Due diligence:

Due diligence is the process of thoroughly evaluating a potential investment or business opportunity. This will include reviewing financial statements, assessing the market potential of the business, and verifying the credibility of the founders and management team.


Equity is ownership in a company. When an investor provides capital to a start-up in exchange for equity, they become a shareholder in the company and gain partial ownership.


An exit is an event in which an investor or founder sells their stake in a company, typically through an acquisition or initial public offering (IPO).


An incubator is a program that provides start-ups with resources, mentorship, and workspace to help them get off the ground. Incubators are typically focused on a specific industry or sector, and they may offer funding in exchange for a small equity stake in the start-up. In contrast to accelerators incubators are long-term programs that support startups at all stages of the development process.

Minimum viable product (MVP):

An MVP is a version of a product that has enough features to be viable for testing and validation with a small group of customers. MVPs are often used by start-ups to validate their product-market fit and gather feedback before launching a full product.


A pitch is a presentation that entrepreneurs use to present their business idea to investors or other potential partners. A pitch typically includes an overview of the business, a description of the product or service, and a plan for growth and profitability.

Pre-money valuation:

Pre-money valuation is the valuation of a start-up prior to raising a round of funding. Pre-money valuation is an important consideration for both entrepreneurs and investors, as it determines the amount of equity that is issued in exchange for capital.

Seed funding:

Seed funding is the first round of funding that a start-up receives. Seed funding is typically used to cover the costs of developing a prototype, conducting market research, and building a team. Seed funding can come from a variety of sources, including angel investors, venture capital firms, and crowdfunding campaigns.

Series A round:

A Series A round is the first round of institutional funding that a start-up receives. Series A rounds are typically larger than seed rounds and involve more formal terms and conditions, such as preferred stock and board seats.

Term sheet:

A term sheet is a document that outlines the terms and conditions of a potential investment. Term sheets typically include information about the amount of capital being invested, the valuation of the company, the rights and preferences of the investors, and the terms of the exit.

Venture capital (VC):

Venture capital is a type of funding that is provided to start-ups with the expectation of high returns on investment. Venture capital firms typically invest in companies that have the potential for rapid growth and a strong competitive advantage.

Nicky Minh

CTO and co-founder

Female Founders: Overcome the Gender Gap & Obtain Funding

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Female Founders: Overcome the Gender Gap & Obtain Funding

The topic of funding for female founders has gained significant traction in recent years, as the issue of gender inequality in the workplace has come to the forefront of public consciousness. While women have made progress in terms of starting businesses and securing funding, there is still a long way to go. In this article, we will discuss the challenges female founders face in terms of accessing funding, and what can be done to address this issue.

Challenges faced by female founders

Securing funding can be a daunting task for any entrepreneur. However, female founders face unique challenges during this process separate from their male counterparts. Some examples of funding challenges unique to female entrepreneurs include:

  • Unconscious bias on the part of investors
  • Underrepresentation in the investment community
  • Different expectations regarding qualifications
  • Difficulty finding mentors or advisors
  • Access to fewer resources

Unconscious biases and underrepresentation both lead to female founders being overlooked by investors. As a result, women often receive significantly less funding than men, even when they have similar qualifications and business ideas. The inability to receive adequate funding creates a vicious cycle as women who do not receive funding struggle to gain traction and build successful businesses, making it even harder for them to attract investment in the future.

The qualifications women need to meet when seeking funding also pose a unique barrier. Investors often place higher expectations on female entrepreneurs’ track records, i.e., the ability and extent to which they can demonstrate success or their connections in their specific industry. Meeting these expectations can be particularly challenging for women starting their first business. Women often will have not had the same opportunities as their male counterparts to build up their qualifications and experience.

These challenges can make it harder for women to succeed with startups and can contribute to the overall gender gap in terms of funding and success.

What can be done?

  • Increase awareness and understanding regarding the challenges women face
  • Increase representation of women in the investment community
  • Promote initiatives and programs that help female founders secure funding
  • Encourage individual investors to target women-led businesses when investing


The first step in addressing the challenges female founders face, is to increase awareness about these challenges. This can be done through education and training programs, media campaigns, and other channels. In order for effective action to be taken, people must first be aware of and understand the problem.

Overcoming the inequities faced by female founders requires women to be better represented in the field. The best way to do this is by directly increasing the number of women in the investment community. This can be done through initiatives that encourage more women to pursue careers in venture capital or other areas within the industry. Making women a part of investment committees and other decision-making bodies is another way to promote representation of women.

The challenges women face specific to financing and entrepreneurship can also be approached directly. There are numerous initiatives and programs specifically designed to help female founders secure funding, for example, accelerators and incubators that focus on supporting women-led businesses.

Individual investors can also help to address the issue by actively seeking out and investing in women-led businesses, either individually or as participants in funding groups. Investors can also act as advocates. Speaking out about the importance of supporting female founders, encouraging others to do the same, and working to promote diversity and inclusion within investment firms and other organizations are all actions a single person can undertake. Taking a proactive stance on these issues helps create a more encouraging environment for female founders.

Final Thoughts

In addition to the efforts describe above, it's important that the larger landscape of investment and entrepreneurship becomes more accessible for female founders. Initiatives such as mentorship programs, networking events, and other resources can help women to connect with each other and with potential investors and advisors. Providing women with the support and resources they need helps level the playing field and increases the chances of success for female-led startups.

The ability for female founders to secure funding is an important issue, and there is still a long way to go in terms of achieving gender equality for female entrepreneurs. However, by taking steps to address the challenges that women face and working towards creating a more inclusive environment, we ensure that we’re moving in the right direction.

If you're a female founder looking for financing, consider applying on the Jenfi homepage. At Jenfi, our financing offer depends on your revenue and is non-dilutive, meaning you keep all your business equity.

Nicky Minh

CTO and co-founder

Complete Guide to Singapore Taxes for Startups

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Complete Guide to Singapore Taxes for Startups

Singapore is known for its low corporate tax rate and business-friendly environment, both of which have helped to make it a popular destination for businesses looking to incorporate and operate in Southeast Asia. Below we provide an overview of corporate taxes in Singapore and some additional tax incentives unique to Singapore.

Corporate tax rate in Singapore

Singapore has one of the lowest corporate tax rates in the world. The corporate tax rate starts at 17% for companies with an annual taxable income below SGD 300,000 (approximately USD 222,000). This rate increases to 18% for companies with an annual taxable income of more than SGD 300,000. These low rates make Singapore one of the most attractive locations for companies in Southeast Asia.

Filing and paying corporate taxes in Singapore

Businesses operating in Singapore are required to file corporate tax returns annually. The deadline for this is typically 30 November the year after assessment is made. Corporate tax payments are required quarterly and are usually due by the end of the month following the quarter’s end. It's important businesses file returns are make payments by their deadlines. Failing to do so has the potential to result in significant fines and penalties, which can be damaging to a business's reputation and financial health.

The Inland Revenue Authority of Singapore offers a kit specifically aimed at walking start-ups through their first round of filing corporate tax returns. This is a useful tool for businesses unfamiliar with the process, and can help new companies make a smooth transition as they begin operations in Singapore.

Corporate tax exemptions and incentives

In addition to its low corporate tax rate, Singapore also offers a number of tax exemptions and incentives to businesses operating in the country.

New start-ups in Singapore may be eligible for a partial corporate tax exemption for the first three years of operation. The amount exempted is based on the company's taxable income. This incentive can help new businesses get off the ground and establish a foothold in the market.

Singapore also offers tax incentives for businesses operating in specific industries or sectors. Manufacturing, research and development, and clean technology sectors have the potential to receive additional tax exemptions or incentives.

There are also a number of tax incentive programs available to businesses looking to relocate to Singapore or expand their operations in the country. The Global Investor Program (GIP) provides tax incentives to businesses that make a significant investment in Singapore by providing recipients with permanent residency status. The GIP requires a minimum investment of $2.5 million SGD and the GIP fund must be between $30 million SGD and $150 million SGD.


Final Thoughts

The tax incentives and corporate tax rates offered by Singapore make it a particularly attractive landscape to new businesses within Southeast Asia. In summary, these include:

  • A corporate tax rate that starts at 17%, one of the lowest in the world
  • Straightforward filing schedules
  • Tax exemptions specific to eligible start-ups that last up to three years
  • Targeted incentives for growing industries like manufacturing, R&D, and clean technology.
  • Incentives for businesses that want to make significant investments in Singapore.


It’s important to note that Singapore’s corporate tax rate and tax incentives are not the only factors businesses should consider when deciding where to incorporate. The availability of skilled labor, access to markets, funding options, and the general business environment are all important considerations.

And if you do choose to incorporate in Singapore, here at Jenfi we have unique funding options that can help you get started or give you the boost you need to get your business to the next level.

Nicky Minh

CTO and co-founder

How to Find Investors as an e-Commerce Shop

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How to Find Investors as an e-Commerce Shop

Finding investors for an e-commerce business is a challenging but often necessary task for entrepreneurs looking to grow their businesses. There are many potential sources of funding, so it's important to approach the process with a clear understanding of your business's needs and the types of investors that will help you meet them. This article provides an overview of the steps you need to take to find investors and offers some tips to help you secure the funding you need.

Step 1: Develop a Pitch

A clear and compelling pitch is one of the fundamental tools you will need for attracting the interest of potential investors. Your pitch should provide investors with an overview of your business and accurately describe your company’s unique position.

Your pitch should discuss the following aspects of your business:

  • product or service offered
  • target market
  • unique value proposition
  • your team and partners
  • growth potential
  • financial needs

A strong pitch not only explains your company’s potential and role within its market; it also incorporates the needs and goals of your target investors. To clearly understand these needs and goals, spend some time conducting market research. Your research should help you identify key trends and opportunities in the e-commerce market as well as the investment preferences and criteria of potential investors. This information will allow you to tailor your pitch in a way that shows how your business is prepared to meet the needs of both the market and your investors.

While developing your pitch, make sure you are prepared to demonstrate your business’s potential for financial return on investment and to provide evidence of its progress and potential for growth. A well-crafted pitch can help capture the attention of potential investors and set the stage for a successful funding round.


Step 2: Identify Potential Investors

Once you have developed your pitch, the next step is to identify potential investors. Some examples of funding sources for e-commerce businesses include angel investors, venture capitalists, and crowdfunding platforms.

When researching potential investors, it's important to consider their expertise and connections within the e-commerce industry. Align yourself with investors that have a track record of investing in e-commerce businesses that reflect your own business's needs and goals. An investor with a strong network and strong industry knowledge can provide valuable resources beyond their financial investment.

It's also important to consider the terms of the investment, including the valuation of your business and the percentage of equity being offered. Consulting with experienced professionals, such as lawyers and financial advisors, can help you identify potential investors.

Step 3: Contact and Connect with Investors

The next step is to reach out and make a connection. This can be done through networking events, online platforms, or introductions made through mutual connections. It's important to be professional and persistent in your outreach efforts, as it can take time to secure a meeting with a potential investor.

Once you have scheduled a meeting, be prepared to discuss your business in detail and answer any questions that may arise. Remember that you want to develop a strong professional relationship with anyone who chooses to invest in your business, and the key element for such a relationship is trust.

To foster trust between you and potential investors:

  • Show that you are committed to your business and that you have the skills and expertise to succeed.
  • Be transparent about your financials, operations, and business model.
  • Be open to feedback and suggestions from investors.

A meeting with an investor is also the time to negotiate the terms of the investment. As part of these negotiations, you will want to discuss the valuation of your business, the percentage of equity being offered, and the terms of the investment agreement. It's important to approach these negotiations with a clear understanding of your business's needs and goals and to be willing to compromise in order to reach a mutually beneficial agreement. Compromise, openness, and trust all help to build a strong relationship with investors who in turn can provide the support you need to grow your business.

Final Thoughts

Another option to take into consideration is whether to seek funding beyond traditional investors and financing services. Jenfi offers an alternative to traditional structures. Jenfi financing is non-dilutive and flexible, meaning that your payment fluctuates depending on your revenue. If you have a low-revenue month, you'll see your repayment rate drop. If you're interested in learning more just visit the Jenfi homepage here and apply for a loan.

Whatever route you take, securing funds is an important step for entrepreneurs in the process of growing their businesses. Developing a clear and compelling pitch, identifying potential investors, and building a relationship of trust, are fundamental steps to securing the funding you need to see your business grow.

Nicky Minh

CTO and co-founder

Why You Should Consider Incorporating in Singapore

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Startups: Why You Should Consider Incorporating in Singapore

Singapore is a popular destination for businesses looking to incorporate. It provides a supportive environment for startups and entrepreneurs and its government’s policies give businesses the opportunity to thrive. If you are considering incorporating your business in Singapore, here are some reasons why it might be right for you.

Strategic Location

Located at the crossroads of major shipping routes, Singapore acts as a hub to Southeast Asia and a gateway to the region. And, as a major hub, Singapore has strong international connections that give it access to markets around the world. It’s an ideal location for businesses that are looking to expand into the region or to access global markets.

 Favorable Business Environment

Singapore has a stable economy with low taxes, minimal bureaucracy, and a strong legal system. The country ranks high on global indices for ease of doing business, and it has a reputation for being a predictable and transparent market.

 Access to Talent

Singapore has a highly educated and skilled workforce for those looking to recruit in fields such as engineering, finance, and technology. For businesses that want to attract and retain international talent, Singapore is an encouraging environment for this due to its flexible work visas and its supportive policies for start-ups.

 Strong Government Support

The government of Singapore actively supports businesses. It has implemented a range of policies and initiatives to promote entrepreneurship and innovation including funding programs, tax incentives, and governmental support for research and development. The government also provides a range of resources and services that can help businesses succeed beyond their initial startup stages such as grants, financing, and mentorships.

 Efficient Business Registration Process

Incorporating a business in Singapore is relatively straightforward and the registration process is efficient and transparent. The country has a one-stop business portal where new companies register their business and obtain necessary licenses and approvals. This portal is supported by the Accounting and Corporate Regulatory Authority (ACRA). The ACRA website is another great tool for starting a business in Singapore. It covers everything new businesses need to know about getting started and provides videos that can guide you through the registration process and beyond. This process is generally faster and more efficient than in many other countries, making Singapore a great choice for businesses that are looking to get up and running quickly.

 Favorable Tax Regime    

Singapore has low corporate tax rates and a wide range of tax incentives. The country also uses the territorial tax system, meaning businesses only pay tax on income that is earned in Singapore. This makes it an attractive location for businesses looking to minimize their tax burden, especially for those operating internationally.

 Strong Intellectual Property Protection

Singapore has a strong legal system that protects intellectual property i.e., patents, trademarks, and copyrights. The country is a signatory to international intellectual property treaties, which means that businesses can rely on strong legal protections for their intellectual property.

Access to Financing

Singapore has a robust ecosystem for start-ups and early-stage businesses, with a range of financing options available. These include venture capital, angel investment, government grants and government funding programs. There are also a number of incubators and accelerators that support start-ups by providing access to resources and mentorships. Jenfi also offers unique financing options for businesses incorporated in Singapore, these options support businesses with their marketing efforts and inventory acquisition.

There are many advantages to incorporating a business in Singapore. A central location, supportive business environment, skilled workforce, and low tax burden are all strong incentives that continue to bring new businesses into the country. The government policies and robust financing options available to businesses operating within Singapore promote the success of these businesses beyond incorporation. If you are considering incorporating your business in Singapore, keep these benefits in mind and think about how they align with the goals of your business.

Nicky Minh

CTO and co-founder

Startups: This is How to Negotiate a Series A Deal

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Startups: This is How to Negotiate a Series A Deal

Negotiating a series A funding round can be a challenging and complex process for startup founders. If negotiated successfully, a series A round can provide you with the financial support and resources needed to take your company to the next level, but it's important to approach these negotiations with care and attention to detail. This article will provide an overview of the series A negotiation process and offer some tips to help you through it.

Before beginning the negotiation process, you will want to prepare yourself by taking the following steps:

  • Have a clear understanding of your company's value proposition and the progress you have made to date. This will help you make informed decisions and negotiate from a position of strength.
  • Determine your financial needs and the resources you will need to achieve your business goals.
  • Seek the advice of experienced professionals, such as lawyers and financial advisors, to help guide you through the process.

Understanding your value proposition

Valuation of your company will serve as an important foundation for your series A negotiations. This can be a complex process, and it's important to approach it with a realistic and informed perspective. There are several methods that can be used to determine the value of a company, including the discounted cash flow method, the comparable company method, and the venture capital method. It's important to consider the size of the market, the potential for growth, and the competitive landscape when determining the value of your company. When performing your valuation you will also want to take into account the current stage of your company and the progress you have made to date. All the above should be taken into consideration alongside the terms of the funding round and the terms of the equity being offered.

Determining your business needs

Determining the terms of the funding round is paramount to this process. This includes the amount of funding being sought, the percentage of equity being offered, the vesting schedule for founders and employees, and the terms of the convertible debt being offered. It's important to carefully consider these terms and how to negotiate them in a way favorable to your company and its long-term success. For example, a high valuation and a low percentage of equity offered may seem attractive at first, but it could also dilute the ownership and control of the company. On the other hand, a lower valuation and a higher percentage of equity offered may provide more ownership and control for the founders, but it may also result in a smaller amount of funding.

Keep in mind that one of the challenges in series A negotiations is balancing the need for funding with the need to retain control and ownership of the company. It's important to find a balance that allows you to secure the necessary funding while also protecting the interests of the company and its founders. This may involve negotiating for certain terms or provisions, such as protective provisions or board observer rights, that help to safeguard the interests of the founders and the company.

Preparing for potential investors

Once you’ve determined the value of your company and the terms with which you want to secure funding, this information needs to be prepared for potential investors. Due diligence is critically important at this point in the process. Your company will be subject to a thorough review by potential investors that will cover your company's financials, operations, and management team. It's important to be transparent and cooperative during this process, as it can help to build trust and establish a strong foundation for the investment relationship. Expect to provide detailed financial statements, business plans, and other documents to the investor for review. Also prepare yourself so that you’re ready to answer any questions potential investors may have regarding your business and ready to provide any additional information as needed.

As you prepare yourself for negotiations remember to:

  • Approach negotiations with a strong and well-informed position: have a thorough understanding of your company's management team, financial performance, and business model.
  • Be transparent and cooperative during this process: doing so can help you build trust and establish a strong foundation for the investment relationship.
  • Have the appropriate information prepared and be prepared to answer follow up questions: this may involve providing detailed financial statements, business plans, and other documents to the investor for review. It's also important to be prepared to answer questions and provide additional information as needed.

Series A negotiations can be a complex and challenging process, but they are also an important step in the growth and development of a startup. By approaching these negotiations with a clear understanding of your company's value proposition and financial needs, and by negotiating for terms that are favorable to your company's long-term success, you can secure the funding you need to take your business to the next level.

Nicky Minh

CTO and co-founder

How Much Capital Do You Need as a Startup in Singapore

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How Much Capital Do You Need as a Startup in Singapore

When starting a business in Singapore, one of the first things you need to decide is how much initial capital you want to invest in your business. The minimum requirement is set by the Accounting and Corporate Regulatory Authority (ACRA) and will depend entirely on the type of business you wish to register as. For example, businesses registered in which owners are personally liable for debts incurred require no specific amount of capital while private limited companies have a requirement of $1 SGD. However, the minimum requirement is only a starting point. Thinking beyond this starting point when deciding how much capital need helps you build a solid foundation before you’ve even started operations. In this article we cover points to consider when determining your initial investment and methods for raising that capital.

How to Decide Your Initial Capital Investment

  • The size and scope of your business: The amount of capital that you need will depend on the size and scope of your business. If you are planning to start a small business that operates on a modest scale, you may not need a large amount of capital. Larger business or ones that require significant ongoing investment need a larger amount of capital to support growth.
  • Your business model and revenue streams: If your business relies on a single revenue stream, you will want a larger amount of capital to cover your costs and expenses. Having multiple revenue streams may allow you to sustain your business with a smaller amount of capital.
  • Your goals and objectives: If you are planning to grow your business rapidly and expand into new markets, a larger amount of capital can help you to support that growth. A more cautious approach that plans on slower growth might let you get by with a smaller amount of capital.
  • Your personal financial situation: If you have access to personal savings or other personal financial resources, you can use these to support your business. Alternatively, if you plan to rely on external sources for funding, such as loans or investments, you may need to raise a larger amount of capital to secure this financing.

Raising Capital for Your business

There are several ways to raise capital for your business, including:

  • Personal savings: One of the most common ways to raise capital is to use personal savings or other personal resources to finance it personally. This can be a good option if you have solid financial footing and are comfortable using your personal resources to fund your business.
  • External Investors: Another option is to seek investment from external sources, such as venture capitalists, angel investors, or crowdfunding platforms. This can be a good option if you are looking to raise a large amount of capital quickly, but it may also come with strings attached, such as giving up equity in your business.
  • Loans: You can also raise capital through loans (e.g., bank loans), government grants, or other financing programs. This can be a good option if you are looking to raise a moderate amount of capital, but it may also come with interest and repayment obligations.
  • Revenue-Based Financing: At Jenfi, we offer revenue-based financing. This new type of financing offer means that you get flexible loans where the repayment terms scale up or down depending on your earnings. If you're interested in learning more, feel free to check our requirements and apply today!

The amount of capital that you should have when starting a business in Singapore depends on a variety of factors, these include:

  • your business structure, size, and scope
  • your business model and revenue streams
  • your goals and objectives
  • your personal financial situation

By considering these factors and exploring different options for raising capital, you can determine the amount of that is right for your initial investment.

Nicky Minh

CTO and co-founder

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