SINGAPORE: The One Team Singapore Fund was launched on Tuesday (Oct 3) to allow Singaporeans and corporate firms to play a direct part in helping support national athletes.
The Government will match the donations up to S$50 million over the next five years, until 2022, Sport Singapore said in a news release.
This means that national athletes could potentially receive an additional S$100 million in funding over the next five years.
The fund received its first contributions of S$100,000 from running club Tiong Bahru Garden Joggers, S$150,000 from Deloitte Singapore, and S$250,000 from Fullerton Health.
Receiving the donations from Tiong Bahru Garden Joggers and Deloitte, Minister for Culture, Community and Youth Grace Fu said: “Our Team Singapore athletes train hard and make many personal sacrifices to excel in their respective sports, and make Singapore proud.
"Our athletes really appreciate the encouragement and support."
In its news release, Sport Singapore said the money would go to the High Performance Sport System, in the areas of competition opportunities, pathway development, coach development, management capability, data analytics, training environment and software, and sports science and medicine.
National Sport Associations with Charity and Institutions of Public Character status can also apply for matching grants for donations through the scheme.
These grants can be used based on multi-year sports plans that fall under the High Performance Sport System and are mutually agreed upon by the associations and Sport Singapore.