The StartUp Enterprise Development Scheme (SEEDS) is a S$50 million equity finance fund for startups and new businesses administered by EDB . Successful applicants have in the past, been engaged in a range of IT and product design services. Under this scheme, EDB takes an equity stake in a seed company and matches, up to a maximum of S$300,000, every dollar the company raises from an independent third party investor or investors. The startup must be incorporated in Singapore, but its founders need not be Singaporeans.