The Furnace Terms and Policy
Services and Resources
Infrastructure Support
The Furnace provides startups with comprehensive infrastructure support and a diverse array of shared services, coupled with access to financial and professional assistance. These services encompass:
- Office space
- Network connection
- Free credits on Cloud services available from Amazon AWS, technical support and invitations to their technical events
Shared Services
- Meeting rooms
- Overflow spaces for interns
- Technical & logistics assistance
- Basic Advisory Services encompassing financial, legal, marketing, and management guidance
- Inclusion in the Furnace Mailing List for updates on entrepreneurship events at NUS Computing
Admission Process
Companies aspiring to join the Furnace can initiate the application process through the following steps:
Policy and Eligibility
Entrance Policy
- The Furnace facilities are available for those intending to build scalable digital businesses. Applicants are to submit an application form and a business plan with an innovative, IT related technology based product or service.
- NUS staff, students and alumni are eligible to apply. Priority will be as follows:
- First priority is given to NUS Computing students and recent graduates and staff.
- Second priority is given to NUS students and recent graduates who have taken NUS Computing courses or been supervised by the School faculty.
- Applicants need not incorporate their companies during the incubation period.
- Upon admission, the company shall sign a Services Agreement and provide the sum of SGD 300 as deposit.
- A monthly Service Fee of SGD 300 applies. This fee may be deferred until the company becomes profitable or obtains significant funding from investors. It will be waived if the company ceases to be in business.
- The company has to submit a brief quarterly progress report promptly.
Exit Policy
A company that is admitted is granted a license to use the Furnace for a period of six months at a time. Upon expiry, this license is renewable for another six months subject to a satisfactory review of the company’s progress.
- The company needs to give one month’s notice if it wishes to terminate the agreement before its expiry.
- The Furnace reserves the right to terminate the agreement if a licensee violates the rules and regulations of the Furnace.
