Grant for Equity Market Singapore (GEMS) Scheme

Under the Monetary Authority of Singapore, the Grant for Equity Market Singapore (GEMS) Scheme supports SGX listings and equity research capacity for Singapore’s public market. The current window runs from 21 July 2025 to 31 December 2028, and the scheme is built around two tracks: a Listing Grant and a Research Development Grant. The Listing Grant co-funds eligible IPO, secondary-listing, ETF, and depository-receipt costs. Mainboard IPO support reaches SGD 2 million for listings with market capitalisation of at least SGD 1 billion and SGD 1 million below that threshold, while Catalist IPOs can receive up to SGD 300,000. ETFs can receive SGD 250,000 per primary-listed ETF or SGD 180,000 per cross-listed or feeder ETF, and depository receipts are capped at SGD 40,000 each. The research track pays licensed financial institutions SGD 4,000 to SGD 5,000 per report, with higher support for initiation and early IPO coverage. GEMS is aimed at firms and intermediaries that are already moving toward market access, not early-stage ventures. Applicants need to fit the exchange and research eligibility rules, act within the prescribed timing, and use the scheme as a cost-offset for public-market readiness. That makes it most useful for issuers, brokers, fund managers, and research houses that can translate a live listing or a steady research pipeline into visible market activity.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.