A new report by SGInnovate gives entrepreneurs and investors a bird’s-eye view of Singapore’s deep tech startup ecosystem, highlighting trends, insights, and what to expect.
Download the full report here https://bit.ly/4cpimCB
If creating and running a successful startup is challenging, doing the same in the Deep Tech space is doubly so. Apart from a highly competitive landscape for funding and talent, the circumstances in which these startups operate are always shifting – regulatory landscapes evolve, market needs change, and technological advancements continuously redefine the playing field.
Now in its third iteration, SGInnovate’s Singapore Early-Stage Emerging Tech Startup Landscape report examines trends in four verticals – Advanced Manufacturing, Agrifood, Sustainability, and Health and Biomedical Sciences – and provides observations and insights into:
- Key sources from which emerging tech startups are being spun off
- Funding activities across the different verticals
- Trends in startup strike-offs observed over a four-year period
- SGInnovate's outlook for specific technologies and what ecosystem players should expect.
Here are some key takeaways from our discussion with Ms Kellie Chan, Assistant Director of Corporate Engagements at SGInnovate, who led the team that produced the report.
1. What is the investment outlook for Singapore’s deep tech ecosystem?
We’ve observed that within the local ecosystem, overall funding rose by 59 per cent from 2022 to 2023 among early-stage startups. We also noticed that there was a one-and-a-half times increase in the number of seed-stage deals compared with 2022. This could be because venture capitalists are seeking earlier stage opportunities, given depressed valuation at the later stages. We see this as a positive sign for encouraging more startups to be incorporated in the foreseeable future.
Source SG Innovate
