26 November 2020
On 12 November 2020, the Economic Development Board (“EDB”) 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, to contribute to the development of Singapore’s tech ecosystem.
This programme will give pass holders flexibility to participate in activities such as starting and operating a business, being an investor, employee, consultant or director in a Singapore-based company, mentoring start-ups, and lecturing at local universities. To be eligible for Tech.Pass, candidates must meet any two out of the following three requirements:
- Have a last drawn fixed monthly salary (in the last one year) of at least S$20,000.
- Have at least five cumulative years of experience in a leading role in a tech company with a valuation/market cap of at least US$500 million or at least US$30 million funding and beyond.
- Have at least five cumulative years of experience in a leading role in the development of a tech product that has at least 100,000 monthly active users or at least US$100 million revenue.
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. Pass holders must meet the renewal criteria (which includes income or business spending requirements) to be considered for renewal at the end of two years.
Tech.Pass is an extension of the Tech@SG programme that was launched in 2019. Both programmes are aimed at facilitating 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.