Singapore Tech Startups Raise $5.3 Billion
Tech Startups in Singapore Raised $ 5.3 Billion in the First Half of 2021, up From $ 3.4 Billion in 2020
Despite the current restrictions due to the pandemic, tech startups in Singapore raised $ 5.3 billion in the first half of this year, up from $ 3.4 billion in the same period last year.
For example, here are three of the most famous “unicorns” of recent times: software firm PatSnap (patsnap.com), used car marketplace Carro (carro.sg), and payments company Nium (nium.com).
Enterprise Singapore Chairman Peter Ong noted that the number of fundraising deals closed in the first six months of 2021 – 355 – also surpassed 317 deals last year.
Speaking at SG Innovation Day, which was held in a hybrid format at the JW Marriott Hotel Singapore South Beach, Mr. Ong noted that Singaporeans are showing a greater interest in entrepreneurship during the pandemic.
More than 680 start-up entrepreneurs have been trained by Startup SG Founder’s venture capital programs since launching last August. About half of the participants are unemployed mid-level professionals, managers, executives and technicians (PMET), he said.
As part of efforts to maintain this growth momentum and support more quality startups, ESG Seeds Capital’s investment arm will nominate 13 new venture capital firms (VCs) as co-investment partners under the Startup SG Equity scheme. Seeds Capital plans to attract more than $ 150 million in investments in three deep technology sectors – advanced manufacturing and engineering, healthcare and biomedical sciences, and urban solutions and sustainability.
An important factor is the availability of innovative and scalable solutions that bring with them broad market connections and broad industry domain knowledge to increase their chances of success. Success.
New co-investment partners include the innovative Plug and Play platform, Quest Ventures and the Schweizer World Group family office.
Singapore is known for its incubators and accelerators for technology-related startups. The Government of Singapore provides them with various benefits and support schemes. In addition, in Singapore, everything has been done to ensure that the registration of a company is a low-cost and quick process. You can read more about registration here.
State agency Enterprise Singapore will nominate nine more partners for the program, including the Innovate 360 food incubator and the Grow agricultural technology accelerator.
