The Economic Development Board (EDB) recently announced plans to launch Tech.Pass, a targeted programme to attract founders, leaders and technical experts with experience in established or fast-growing tech companies, so as to contribute to the development of Singapore’s tech ecosystem.
Tech.Pass will allow pass holders flexibility in the participation of activities such as starting and operating a business, being an investor, employee, consultant or director in one or more Singapore-based companies, mentoring start-ups and lecturing at local universities. The eligibility criteria for applicants and full list of activities can be found in Annex A and Annex B respectively.
Tech.Pass will be open for application in January 2021, with 500 places available upon launch. The pass will be valid for two years in the first instance, with a one- time renewal for a subsequent two years. The consideration for renewal at the end of two years will depend on meeting the renewal criteria.
The initiative is an extension of the Tech@SG programme that was launched in 2019. The Tech@SG programme anchors and supports the expansion of high potential companies in Singapore. Both programmes facilitate fast growing tech companies and established tech talent to enter and anchor themselves in Singapore, bringing their networks and experience with them to benefit the local tech ecosystem.
This is part of Singapore’s multi-pronged approach to develop a strong base of technology companies and talent to ensure Singapore remains globally competitive. This will also create more opportunities for local tech talent to work in globally competitive teams alongside top tech talent from all over the world.
Interested applicants can refer to the following website for further information on Tech.Pass: https://www.edb.gov.sg/en/how-we-help/incentives-and-schemes/tech-pass.html or download the full press release here.