FAQ

We are keen on highly tech-savvy and creative companies who share our vision to disrupt the insurance industry to offer value-added solutions that enhance the betterment of customer experience with and access to innovative insurance products.
Applications will be assessed based on the following criteria:
1) The team's composition and its ability to execute the business innovation;
2) The innovativeness of the solutions; and
3) The business model and its potential.
For us to help you make the most out of the programme, we are looking for start-ups that have passed the ideation phase and have at least developed a MVP (Minimal Viable Product) that have gained some form of customer traction.
It can be either.
The programme is free for start-ups.
Intellectual property (IP) developed by a participating company is retained by the company. Income is committed to help start-ups grow and develop while tapping on sharp business and tech-savvy minds to launch innovations in insurance that value-add and excites our customers and the industry.
Income will not take any equity in exchange for your participation. We believe in developing the start-up community in Singapore and selected teams will be provided with guidance and support (including the S$28,000 Entrepreneur grant).
Income will sign an option agreeing to invest in your company at a mutually-agreed price. This option must be exercised prior to Demo Day and will only be exercised if, after the 11-week programme, Income and your company jointly agree that Income can add significant value to your business. While there is no guarantee that a participating company's product or service may be taken on and/or endorsed by Income, we understand the support you need as a start-up and hence, will look to invest in innovative and tech-savvy companies with cutting-edge solutions that can take insurance access and customer experience to a new high.
You will have the opportunity to showcase your product or service at Demo Day on 24 March 2017, where potential investors including venture capitalists, and influential industry leaders will see your proposition and listen to your pitch. This will be the platform to secure future funding and customers for your innovation.
While we welcome single-founder companies to apply, we recognise the value in having a team of co-founders with complementary skill-sets. Successful start-ups are often able to cross leverage business, technical and design know-how in-house.
Teams need to be incorporated in Singapore in order to receive the startup Entrepreneur Grant as part of joining the programme. Also, this will facilitate your eligibility and application for many follow-on funding and government grants available in Singapore.
The application can be done as an individual. However, if you are selected to join the accelerator programme, it is a prerequisite that you have an incorporated business in Singapore.
The programme is open to all companies in the start-up phase within its first three years of incorporation. It is designed to accelerate start-ups to the next level of growth by leveraging our deep expertise, broad experience, wide connections and valuable resources.
The accelerator programme begins on 9 January 2017 and concludes with Demo Day on 24 March 2017.
Applications open on 1 August 2016 and you will need to fill out the online application form by 9 October 2016. If you are shortlisted, we'll notify you by 25 October 2016. Do mark the important dates in your diaries.
The Income Future Starter Accelerator co-working space is located at BASH , Singapore's largest start-up incubation space.
If your team members are based overseas, it is not necessary for them to relocate to Singapore. However, we do require at least one key member of the team to be based in Singapore for the duration of the programme. To fully benefit from the programme, we will also require a key technical member and/or developer to attend the programme in Singapore.
We can facilitate working visas for companies selected for the programme. If this is not possible, we can put you in touch with agencies and services that can help you with visas and immigration. We can only assist when you have been accepted into the programme.

As the programme is 11-weeks long, most applicants will require to apply for an extension for their visa or obtain a multiple-entry visa. This can only be done when you arrive in Singapore and the process may vary according to the country you are from. You may refer to the following websites for more details.

Entry Requirements >>
Visa Requirements >>
Application for Entry Visa >>
All shortlisted teams (or at least one member) need to be present in Singapore at the following events.

20 – 21 October: Selection Day
11 November: Announcement of final teams
9 January – 24 March: Duration of the accelerator programme

All shortlisted teams (and all its members) need to be present in Singapore for Demo Day on 24 March 2017.