SINGAPORE: A new pass targeting foreign tech industry experts will launch in January as part of efforts to develop Singapore’s tech ecosystem, said the Economic Development Board (EDB) on Thursday (Nov 12).
A total of 500 slots for Tech.Pass will be available for applications upon its launch, said EDB in the media release, adding that the programme is aimed at attracting “founders, leaders and technical experts with experience in established or fast-growing tech companies”.
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Pass holders will have the flexibility to participate in activities such as starting and operating a business, or be an investor, employee, consultant or director in Singapore-based companies. They can also act as a mentor to start-ups or lecture at local universities.
To be eligible, applicants must meet at least two of the following requirements:
- Have a last drawn fixed monthly salary in the past 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 or market cap of at least US$500 million or at least US$30 million funding
- 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
The Tech.Pass will be valid for two years and can be renewed once, if renewal criteria are met, for another subsequent two years, said EDB.
“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,” said EDB.
The programme will also create more opportunities for local tech talent to work in globally competitive teams alongside top tech talent from across the world, it added.
Tech.Pass is an extension of the Tech@SG programme that was launched in 2019. Both programmes facilitate fast growing tech companies and established tech talent to enter Singapore to benefit the local tech ecosystem with their experience and network.