The Maritime Innovation and Technology (MINT) Fund is the Maritime and Port Authority of Singapore’s (MPA) grant for maritime technology. It has two schemes. MINT-Research and Product Development (MINT-RPD) co-funds manpower, equipment and operating costs for applied R&D, product development and test-bedding carried out in Singapore by companies whose paid-up capital is at least 50% of the project cost. MINT-STARTUP gives up to S$100,000 for proof-of-concept, proof-of-value or pilot projects by Singapore-incorporated start-ups under 10 years old that have completed PIER71 or a partner accelerator.
Raffles Corporate Services works with a panel of experienced Singapore law firms who offer cost-effective and efficient legal service and advice. This article is general information only and is not legal advice.
What is the MINT Fund for?
MPA set up the MINT Fund in 2003 to grow Singapore’s maritime innovation and technology ecosystem. MPA states three objectives: to enhance the competitive edge of the port of Singapore, to build technological capabilities in key niche areas of the maritime industry, and to transform the sector into a highly productive and innovative cluster using leading-edge technology.
In practice, the fund suits maritime technology developers, marine and port equipment makers, shipping and port service companies with in-house R&D in Singapore, and early-stage maritime tech start-ups working with industry partners.
Which MINT scheme fits your company?
| MINT-RPD | MINT-STARTUP | |
|---|---|---|
| Purpose | Applied R&D, product development and test-bedding of maritime technology | Proof of concept (POC), proof of value (POV) or pilot projects |
| Who can apply | A company incorporated under the Companies Act and operating in Singapore, or a classification society appointed as a Recognised Organisation | A Singapore-incorporated start-up that has completed the PIER71 Accelerate Programme or a partner acceleration programme |
| Capital requirement | Paid-up capital of at least 50% of total project cost (companies) | Paid-up capital of at least 30% of the grant amount |
| Size and age | No limit published | Under 10 years in operation; group turnover not more than S$100 million or group employment not more than 200 |
| Funding | Co-funding of manpower, equipment and other operating expenditure; rate not published | Up to S$100,000 |
| Where the work happens | Core development in Singapore | Funded tech development in Singapore |
MINT-RPD: who is eligible and what is funded?
MINT-RPD supports applied R&D, product development and test-bedding relevant to the maritime industry. MPA looks for projects that develop maritime technology, intellectual property and capabilities, with new technology or services deployed in the industry and researchers, engineers and scientists trained in the process.
A qualifying project must:
- Be relevant to the maritime industry.
- Involve R&D or product development with real technology development content.
- Start, and incur costs, only after MPA approval.
- Carry out its core development activities in Singapore.
- Develop products or solutions with commercialisation potential.
MPA co-funds manpower and equipment engaged or acquired for the project, and other operating expenditure incurred for it. MPA does not publish a co-funding percentage or cap on its MINT Fund page.
Applications are evaluated on impact to the maritime industry, innovation and differentiation from existing solutions, capability development in Singapore, local value capture, and the competency of the organisation and team.
The paid-up capital test
The paid-up capital requirement often catches companies out. A company proposing an S$800,000 MINT-RPD project needs paid-up capital of at least S$400,000. Many Singapore companies are incorporated with nominal capital and fund operations through shareholder loans, which do not count as paid-up capital. If the capital is short, the company may need to allot new shares, or capitalise a shareholder loan, before it applies, with the proper board and shareholder approvals and an ACRA filing. Our guide to paid-up capital and how to increase it explains the steps.
MINT-STARTUP: who is eligible?
MINT-STARTUP encourages the maritime industry to work with tech start-ups on adjacent and new growth areas. A start-up can receive up to S$100,000 to run a POC, POV or pilot project. MPA’s eligibility criteria are:
- Participation: completed the PIER71 Accelerate Programme or a partner acceleration programme.
- Company age: in operation for less than 10 years.
- Size: group annual sales turnover not more than S$100 million, or group employment not more than 200.
- Local presence: incorporated in Singapore.
- Paid-up capital: at least 30% of the grant amount.
- Local activity: the tech development funded by the grant is carried out in Singapore.
MPA evaluates MINT-STARTUP applications on impact to the maritime industry, innovation and differentiation, capability development and local value capture in Singapore, team competency and commitment, and scalability of the business.
PIER71 (Port Innovation Ecosystem Reimagined at BLOCK71) is MPA’s industry-wide acceleration programme run with NUS Enterprise, launched in 2018. It includes the Smart Port Challenge and an eight-week acceleration phase.
Example: a foreign founder’s maritime start-up
Example: A founder from Norway completes PIER71 with a hull-cleaning robot and agrees a pilot with a Singapore ship repair yard. Her company is registered in Estonia. To apply for MINT-STARTUP she first incorporates a Singapore company, moves the pilot’s engineering work to Singapore, and injects at least S$30,000 of paid-up capital so the company can apply for the full S$100,000. If she plans to relocate to run the company, the work pass is a separate decision from the grant; the grant does not confer any right to an Employment Pass. This is a hypothetical illustration, and MPA decides eligibility and the grant amount.
Start-ups outside maritime, or wanting broader POC funding, can compare Startup SG Tech.
How do you apply?
MPA’s MINT Fund page does not publish an application form, portal, contact address or processing time. A practical sequence is:
- Check fit. Confirm the project is technology-oriented, relevant to the maritime industry and capable of commercialisation.
- Check the company. Confirm Singapore incorporation and paid-up capital against the 50% (MINT-RPD) or 30% (MINT-STARTUP) test, and fix any shortfall first.
- Contact MPA. Enquire through the contact channels on MPA’s website; start-ups may also ask their PIER71 or accelerator programme team how to proceed.
- Prepare the proposal. Address each evaluation criterion MPA lists, with a project plan, budget and the Singapore-based team.
- Do not start. For MINT-RPD, the project and its costs must start only after MPA approval.
Documents checklist
- ACRA business profile showing Singapore incorporation and current paid-up capital
- Latest financial statements
- Project proposal: problem, technology, development plan, milestones and commercialisation route
- Itemised budget for manpower, equipment and operating costs, with quotations
- Team CVs, showing who works in Singapore
- Letters of support from industry partners for any pilot or test-bed
- For MINT-STARTUP, evidence of completing PIER71 or a partner accelerator
This list reflects the information MPA evaluates; MPA may ask for different or additional documents.
Other MPA funding: the Maritime Cluster Fund
Maritime companies that are not doing R&D may find the Maritime Cluster Fund (MCF) more relevant. MPA’s MCF has three components:
- MCF-Manpower Development: co-funds training, attachments, management associate programmes and HR capability.
- MCF-Business Development: supports eligible costs of setting up new maritime operations or new lines of maritime business in Singapore, and internationalisation.
- MCF-Productivity: supports digitalisation and new technology projects that raise productivity across the value chain.
MPA requires MCF application forms to reach the MCF Secretariat ([email protected]) at least 30 days before the project starts, and encourages applicants to discuss the project about eight weeks ahead. Shipping groups setting up in Singapore should also look at the tax side, including the Maritime Sector Incentive.
Common reasons applications fail
- Paid-up capital too low. Shareholder loans do not count; only issued and paid-up share capital does.
- Development done overseas. Core or funded development must happen in Singapore.
- Project already under way. MINT-RPD projects and costs must start after MPA approval.
- No maritime relevance. A general technology product needs a clear maritime use case.
- No accelerator track record. MINT-STARTUP requires completion of PIER71 or a partner programme.
- Weak commercialisation case. MPA looks for industry impact, local value capture and scalability.
Frequently asked questions
What percentage of costs does MINT-RPD cover?
MPA does not publish a percentage or cap for MINT-RPD on its MINT Fund page. Confirm the level with MPA for your project.
Can a foreign company apply?
MINT-RPD requires a company incorporated under the Companies Act and operating in Singapore (or a recognised classification society), and MINT-STARTUP requires Singapore incorporation. A foreign company would normally apply through a Singapore subsidiary.
Can a classification society apply?
Yes, for MINT-RPD, if it is appointed as a Recognised Organisation under the Merchant Shipping (Authorised Organisations) Regulations.
Our start-up is 11 years old. Can we use MINT-STARTUP?
No. MPA requires the company to have been in operation for less than 10 years. MINT-RPD has no published age limit.
Is the MINT Fund still open?
MPA’s page, updated on 4 November 2026, says two funding schemes are currently available. See the MPA MINT Fund page and the MPA Maritime Cluster Fund page for the latest position, and our directory of Singapore government grants for companies for schemes from other agencies.
Information checked against official sources on 6 November 2026.
Free grant consultation: is the MINT Fund right for your company?
Raffles Corporate Services has in-house certified grant consultants who are experienced with Singapore grant applications and the full grant process, from checking eligibility and preparing the proposal and supporting documents to submitting claims and meeting the conditions after approval. We can arrange a free consultation to review your company and identify which grants, including the MINT Fund, may be applicable.
Email [email protected] or WhatsApp +65 8501 7133 to book a time. MPA decides every application, and no consultant can guarantee approval.
The Editorial Team, Raffles Corporate Services