The Economic Development Board announced plans last week 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.
Initiative to help tech entrepreneurs set up in Singapore
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.
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.
Tech.Pass allows the holder to:
- Start and operate one or more tech companies
- Be an employee in one or more Singapore-based companies at any time
- Transit between employers or to an entrepreneur
- Be a consultant or mentor, lecture in local institutions of higher learning, or be an investor and director in one or more Singapore based companies
- Sponsor stay for spouse, children, and parents in Singapore on either a Dependant’s Pass (DP) or a Long-Term Visit Pass (LTVP) issued by MOM
An extension to the Tesch@SG programme
Tech.Pass 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.
The Tech.Pass aims to attract highly accomplished entrepreneurs, business leaders, or technical experts to Singapore and provides them with flexibility in participating in a variety of activities that can contribute to the tech ecosystem.
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.
Developing Singapore as an international Tech Hub
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.
