The $205 million Covid–19 crisis fund for startups announced in Singapore’s May budget went into action over the weekend. It’s designed to bridge the financing gap they might face amid the pandemic.

Seeds Capital, the investment arm of Enterprise Singapore, and EDBI, the corporate investment wing of Singapore Economic Development Board, will split the Special Situation Fund for Startups (SSFS) between early and later-stage startups, reports Straits Times. Private sector co-investors will match the state backers 1-to–1.

Early startups can apply via [email protected]; late-stage via [email protected].

To qualify, startups must be incorporated and have headquarters in Singapore. And since this is a public-private investment, not a loan or a bailout, startups will need to provide detailed documentation—eg: business plan, financial statements, cash flow projections—and show strategic assets they might possess, such as intellectual property.