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Green Business Startup Funding

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					APPLICATION FOR SEEDS
START-UP ENTERPRISE DEVELOPMENT SCHEME

Information required in this form:
Part I          Singapore Company Information
Part II         Company Shareholding Structure
Part III        Applicant Information
Part IV         Financial Information
Part V          Employment Profile and Intellectual Property
Part VI         Documents to be Submitted
Part VII        Declaration

Instructions:
1. Companies are advised to attend the SEEDS briefing sessions before applying.
   For more information on the scheme and briefing schedule, please visit www.spring.gov.sg

2. 3rd party investor(s) must not be related to the founder(s) of the company, and are required to
   perform independent due diligence on the company, founders and the business. 3rd party investors
   are NOT to rely on SEEDS' assessment to make any investment decisions.

3. Submission of application forms does not equate to SEEDS' approval of investment.
   Approval of the application is at the sole discretion of SPRING SEEDS Capital.

4. Please read the 'Explanatory Notes' in this form.

5. To expedite your application, please provide the information requested as completely as possible.
   If the space provided is insufficient, a separate sheet may be used. Where information is not yet
   available or not applicable, please indicate accordingly.

6. Upon completion of this application, you are required to submit:
             - One (1) signed hard copy of this application, and
             - One (1) soft copy of this form in the original Microsoft Excel file format
             - All documents as required in this form (hard and soft copy)

7. The application and all above-mentioned documents should be submitted in sealed envelopes to:

                SPRING SEEDS Capital Pte Ltd
                SPRING Singapore
                2 Bukit Merah Central
                Singapore 159835

8. Name of SEEDS Officer handling your application:


           - ALL INFORMATION PROVIDED WILL BE HELD IN THE STRICTEST CONFIDENCE -
EXPLANATORY NOTES

1.   The Start-up Enterprise Development Scheme (SEEDS) provides equity financing for start-ups in the seed stage of
     enterprise formation.

2.   For every dollar raised from 3rd party investor(s) by the start-up company, subject to assessment and approval,
     SPRING SEEDS Capital will match a dollar for every dollar raised. The minimum investment amount by each 3rd
     party is $75,000. SEEDS total investment will be capped at S$1 million (comprising an initial investment of
     S$300,000 and remaining amount subject to approval in the form of follow-on investments). Both SEEDS and the
     3rd party investor(s) will take equity stakes through issuance of NEW shares in the company, the percentage of
     which will be in proportion to the respective dollar amount of investment.

3.   Applicant company should have a minimum paid-up capital of $50,000, but less than S$1 million.

4.   To qualify, applicant company must demonstrate the following:
     a. Company must be incorporated in Singapore with its highest value-added activities to be done in Singapore
     b. Minimum paid-up capital of S$50,000, but less than S$1 million
     c. Scalability for the international market
     d. Substantial innovation or intellectual content within the company
     e. Promising growth potential
     f. Experienced management team.

5. Should approval be granted, the company will have to abide by the following:
   a. Ensure budget is provided by the beginning of each Financial year
   b. Monthly submission of Profit & Loss and Cashflow statements. If the company do not have the expertise in-house to
   provide such information, the company will allow SEEDS to appoint an accountant at the company's expense

     c. Board meeting minutes to be submitted within 48 hours after the Board meeting
     d. To obtain SEEDS approval if any employee receives a remuneration package that exceeds $60,000 per annum

6. The scheme does not apply to companies with activities in:
   a. Real estate development
   b. Gambling
   c. Tobacco-related products
   d. Activities in violation of laws, or inconsistent with free competitive enterprise
   e. Subsidiaries in form and in substance, or relocation of businesses.
   f. Consultancy services

7.   SEEDS reserves the right to interview and conduct on-site visits with the founder and 3rd party investor(s) during the
     screening process of the application, including requests for any additional relevant documents.

8.   The 3rd party investor must take a Board seat in the company, and to chair the Compensation Committee to decide on
     the remuneration packages of all the senior executives.

9.   The directors of the company must be familiar with the Companies' Act and the roles and responsibilities of directors.
     Directors are required to attend courses to equip them for corporate governance. Such course fees will be borne by the
     company.

10. The company shall not use the funds to provide financial assistance for any subscription of shares or to make any
    payment or loan to any party.
PART I - SINGAPORE COMPANY INFORMATION
Please enter your inputs in the green cells only
1    GENERAL INFORMATION

      a)    Company Name

      b)    Company Address




                  Postal Code

                  Country

                  Tel. No.

                  Fax No.

                  Website url

      c)    ACRA Reg. No.

            Date of Registration
            (dd/mm/yyyy)

            Registered as

      d)    Paid-up Capital (S$)

      e)    Corporate Secretary

      f)    Company Accountant
    g)   Company Executives (in order of designation)

                     Name                       Designation               Nationality




2   DETAILS OF STARTUP BUSINESS/COMPANY

         Industry (Please tick appropriately)

               Retail                                            Electronics
               Construction                                      Education Product & Services
               Food & Beverage                                   Biotechnology
               Engineering Services                              Nano-Technology
               Consumer/Lifestyle Products & Services            Building Materials
               Information Technology                            Transportation/Logistics
               Media & Communication                             Primary Resources
               Medical/ Healthcare Services                      Financial Services
               Environmental                                     Infrastructure
               Supporting Industry                               E-Commerce

          Others : please specify __________________________________________

    Note :-
    Company is to submit the following documents
    a)    Latest ACRA record

    b)   Bank statements for last one year

    c)   For:
         Companies with less than 1.5 years of operation
         - One hard copy of either the management account statement or a pro-forma signed by Directors
         Companies with more than 1.5 years of operation
         - One hard copy of the latest audited account statement
PART II - COMPANY SHAREHOLDING STRUCTURE
Please enter your inputs in the green cells only
1a. SHARES ALLOCATION*

                                                                     Post SEEDS and 3rd Party Investor(s)
                                     Shares Issued
                                                                                Investment

                        Names of existing       No. of shares        Names of proposed       No. of shares
                          shareholders              held               shareholders             issued

                      Eg. Mr Anthony Boh              10,000        Eg. Mr Anthony Boh          10,000
                          Ms Cathy O'Donnell          10,000            Ms Cathy O'Donnell      10,000
                          EFG Pte Ltd                 10,000            EFG Pte Ltd             10,000
         Founder(s)
      investor(s)




                                                                    Eg. Mr Horace                5,000
        3rd party
         SEEDS




                                                                    Eg. SEEDS                    5,000


* Should there be any discrepancies in the application, SEEDS reserves the right to nullify the
application.

1b.   GROUP STRUCTURE
      Please indicate if there are subsidiaries or associate companies within the group.

      Example                               ABC Co.


                              X%                         Y%




                           DEF Co.                        GHI Co.


                                                                    Z%

                                                          HIJ Co.
PART III - APPLICANT INFORMATION
Please enter your inputs in the green cells only
1    PARTICULARS OF KEY FOUNDER OF STARTUP
     Please include particulars of other founder members as attachments.

      a)    Name of Applicant

      b)    NRIC/Passport No

      c)    Nationality

      d)    Date of Birth

      e)    Gender                            Female             Male
                                             Tick appropriately

      f)    Home Address




      g)    Email

      h)    Tel (Home)

      i)    Mobile

      j)    Current drawn salary

      k)    Have you applied for the scheme before?

                                              No           Yes
                                             Tick appropriately

                                       If yes, please provide details:




      Note :-
      Key Founder(s) are to submit the following documents
      a)    Curriculum Vitae of founder(s) and management (to include education background, work
            experience, business experience, relevant experience and references.

      b)    Updated list of Directorship (If any)
2   PARTICULARS OF LEAD 3rd PARTY INDIVIDUAL INVESTOR
    Please include particulars of additional investors in a separate sheet.

    a)    Name of Investor

    b)    NRIC/Passport No

    c)    Nationality

    d)    Date of Birth

    e)    Gender                            Female             Male
                                           Tick appropriately

    f)    Home Address




    g)    Office Address
          (if any)



    h)    Email

    i)    Tel (Home)

    j)    Mobile

    Note :-
    3rd party individual investor is to submit the following documents
    a)    Curriculum Vitae of investor: To include education background, work experience, business
          experience, relevant experience, last 5 years’ experience in investments or last 5 investments
          (to include exits obtained and manner of divestments), and references.

    b)    Description of any business relationship, e.g. customer and supplier, between investor and
          company prior to and after inflow of SEEDS investment.

    c)    Updated list of Directorship (If any)

    d)    Evaluation Report (See guidelines below.)

    ** Please provide similar information if there is more than one 3rd Party Individual Investor.
3   PARTICULARS OF LEAD 3rd PARTY CORPORATE INVESTOR (If applicable)
    Please include particulars of additional investors in a separate sheet.

    a)    Name of Corporation

    b)    ACRA/UEN No

    c)    Date of Registration

    d)    Registered as             Pls specify: Sole Proprietorship/ Pte Ltd/ Partnership/ Public Ltd/ Others

    e)    Country of
          Incorporation

    f)    Office Address




    g)    Paid-up Capital (S$)

    h)    Office No.

    i)    Fax No

    j)    Website url

    Note :-
    3rd party corporate investor is to submit the following documents
    a)    Latest audited accounts of 3rd Party Corporate Investor.

    b)    Description of any business relationship, e.g. customer and supplier, between investor and
          company prior to and after inflow of SEEDS investment.

    c)    Curriculum Vitae of proposed Board member.

    d)    Evaluation Report (See guidelines below).

    e)    Latest/updated directorship of the proposed Board member.

    ** Please provide similar information if there are more than one 3rd Party Corporate Investor.
PART IV - COMPANY FINANCIAL INFORMATION
Please enter your inputs in the green cells only
1    FINANCIAL PERIOD

      Please indicate your latest financial year and period:   Eg. 31 Dec FY 2008

2     PAST AND FORECAST PERFORMANCE

                                                               Last FY   Forecast   Forecast   Forecast
                  (S$'000)             Eg.2006       2007       2008       2009       2010       2011
      Sales
      Cost of Goods Sold
      Payroll
      Overhead (less payroll)
      Other expenses
      Profits Before Tax
      Tax Paid / Payable

3     COMPANY VALUATION AND FUNDING

      a)    Amt of funding previously secured (if any)

      b)    Amt of SEEDS funding applied for

      c)    Amt of 3rd party funding committed

      d)    Company Valuation (Pre SEEDS)

      e)     S/N   Proposed Use of Funds              S$         %
              1 Eg. Working capital                 80,000       15
PART V - EMPLOYMENT PROFILE AND INTELLECTUAL PROPERTY
Please enter your inputs in the green cells only
1    EMPLOYMENT PROFILE

                                                     Cumulative Numbers
                                         Last FY     Year 1^     Year 2   Year 3
                                          2008        2009        2010     2011
    Local - Singaporeans and PRs
    Foreign
    Total
    ^ current year



2   INTELLECTUAL PROPERTY RIGHTS / PATENT MANAGEMENT

    Please provide details on rights/patents.
    Note: IP held by individuals must be transferred to the company.

    Being Developed



    IP Number



    Pending



    Granted



    Purchased from
    other sources
PART VI - DOCUMENTS TO BE SUBMITTED
1    BUSINESS PLAN

    In addition to this application form, the company has to attach a hardcopy business plan.
    Items to be reflected in the business plan include:

    a)    Corporate Profile
          Details of the company, corporate mission and broad strategies, corporate structure,
          core business activity, etc.

    b)    Industry Overview
          - Products and services offered by the company,
          - Target market in terms of customers, market niche, geographical coverage,
          - Competitor analysis, and
          - Trends and outlook for the industry segments that the company in operating in.

    c)    Application of innovation/ technology in the business

    d)    Scalability of business

    e)    Business Strategy (including short-term and long-term plan)
          - Track record of existing customers/ revenue sources/ working partners/ projects completed, etc.
          - Pipeline of new markets/ customers/ revenue sources/ working partners/ other expansion plans
          - New capabilities/ competencies/ intellectual property that will be developed by the company

    f)    Use of proceeds from SEEDS and 3rd party investor(s)
          - Breakdown of amount and percentage

    g)    As Appendix - New Project Implementation Schedule (if applicable)
          Details of the key activities/ milestones and the completion dates for new or expansion projects
          that the company will be undertaking.

    h)    3 Years Financial Projections
          - Pro-forma Profit & Loss, Balance Sheet and Cash Flow Statement
2   EVALUATION REPORT & EXECUTION OF LETTER OF COMMITMENT

    To be completed by 3rd Party Investor(s)
    - The following serves as a guide
    - Each 3rd party investor is to submit a signed evaluation report in hardcopy

    Please provide the following information in the evaluation report:

    Start-up Company:
    Evaluator:
    Date of Evaluation:

    a)    Brief introduction to personal/ business relationship with founder/ start-up.
          (Include details of number of years known, past business dealings, and understanding of the
           business/ industry.)

    b)    Describe how you came to know of the founder/ start-up and the need of investment.

    c)    Describe the stage of development of product/ start-up, prototype done, patent pending,
          revenue generated, etc.

    d)    Assessment of the management team of the start-up.

    e)    Indicate the amount of investment needed and the primary use of the funds.

    f)    Indicate your reason for investing in the start-up.
          (Include discussion on intellectual property of the company, valuation of the start-up,
           growth potential and scalability of the business.)

    g)    Describe why investors will have high returns when they invest in the start-up.

    h)    Describe how you can contribute to the company.
          (Please list relevant experience in which you may value-add if any; or previous experience in
          mentoring similar companies etc.)

    i)    Others:
          - Provide materials on any due diligence conducted
          - Include other aspects of your assessment of the company

    j)    Signature
LETTER OF COMMITMENT BY 3rd PARTY INVESTOR



(For company that has more than one 3rd party investor, the appointed lead investor is to prepare the letter of commitment)


I, _____________________ (Name & NRIC), of ______________________________________ (Address) a 3rd party
investor, is committed as follows:

In respect of the application dated _________________ by ______________________ <name of startup company> (the
"Company") for financing under the SEEDS Startup Enterprise Development Scheme, and the Subscription Agreement that
I have entered into with SPRING SEEDS Capital Pte Ltd and various other parties:


1. I am fully aware of the duties of a director and am committed to be appointed to the board of directors of the Company.

2. I am also willing to be appointed as Chairman of the Compensation Committee and undertake to fulfill my duties as
Chairman.

3. I will use my best efforts to assist the Company to prepare their annual budget.

4. I will ensure that the Company maintains proper record of all Board Minutes and provides SPRING SEEDS Capital Pte
Ltd with a copy of the Board Minutes within 48 hrs after the meeting.


5. I will attend the Directors' training session and ensure the Company maintains good Corporate Governance in its affairs.


Yours faithfully,




[Signature of the Investor & Date]

Witnessed by: SPRING SEEDS Capital Pte Ltd




[Name & Signature of Witness]
PART VII - DECLARATION
Please enter your inputs in the green cells only
a)   Please list any government incentives* that the Company is current enjoying:




      * Include incentives and/or loans, etc. administered by other Government Agencies.

b)    I declare that the facts stated in this application and the accompanying information
      are true, and that the Company is free from any litigation pertaining to the project
      in Singapore or overseas. I understand that I will be required to attend an interview
      to present the business plan as described in this submission.




      Signature of Applicant                            Company



      Name (in BLOCK LETTERS)                           Contact Number



      Applicant's Designation                           Email Address

      (The applicant should be the CEO, MD or the equivalent position in the Company.)

                31/01/2009
      Date (DD/MM/YYYY)

Contact Person (If different from above)



      Name (in BLOCK LETTERS)                           Contact Number



      Designation                                       Email Address

Signature of Investor




      Signature of Investor                             Email Address



      Name (in BLOCK LETTERS)

				
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