Singapore ranks 2nd in Asia’s top startup ecosystems

Singapore has secured the second place among Asia’s leading startup ecosystems and ranked ninth globally, according to Startup Genome’s 2025 Global Startup Ecosystem Report.

The startup ecosystem in the country is valued at S$185 billion, far above the global average of S$26.15 billion. It is home to 20 active unicorns, which is five times the global average, and has raised S$4.4 billion in early-stage funding between late 2022 and 2024.

Through its Research, Innovation and Enterprise (RIE) plan, Singapore has committed S$24.2 billion in public R&D from 2021 to 2025. An additional S$2.9 billion was injected in 2024 to boost capabilities in advanced manufacturing, sustainability and digital innovation.

To support Deep Tech growth, the government expanded its equity co-investment fund to over S$970 million, with S$422 million added recently. New partnerships were also established with venture builders such as Founders Factory and Xora Innovation.

Singapore’s global innovation reach continues to expand. The Global Innovation Alliance has helped over 600 startups grow across 24 cities and supported R&D collaboration in more than 40 countries. Platforms such as the Open Innovation Network connect startups with corporations on AI and sustainability challenges.

The city-state also hosts major events, such as SWITCH and SLINGSHOT, which helps attracting tens of thousands of innovators and startups from around the world.

In life sciences, firms such as Lucence and KYAN teamed up with the Mayo Clinic to enter the U.S. market, while Callio Therapeutics raised US$187 million. The S$785 million Geneo hub at Singapore Science Park is now open, offering 80,000 square meters for biomedical R&D.

Singapore has invested over S$1 billion in AI talent and infrastructure, working with Google, AWS, NVIDIA and 26 AI Centres of Excellence. Climate tech is also on the rise, backed by partners like Temasek and Breakthrough Energy and startups like Aether Fuels, which raised over US$40 million.

With 4,500 tech startups, over 510 VCs, 220 incubators and startup-specific schemes like Stage One, Singapore remains a prime gateway for businesses expanding into Asia.