Singapore Remains Top Start-up Investment Destination in Southeast Asia

📆 4/4/2024 12:14 PM
📰 straits_times

⏱ Reading Time:
27 sec. here
10 min. at publisher
📊 Quality Score:
News: 42%
Publisher: 69%

Business News

Singapore,Start-Up,Investment

Despite a downturn in funding, Singapore accounted for 63.7% of all equity deals in Southeast Asia in 2023, making it the top start-up investment destination in the region. The report also highlighted the growth of Singapore's deep-tech start-up ecosystem, with a 31.4% increase in deals compared to the previous year.

SINGAPORE – Singapore was the top start-up investment destination in South-east Asia in 2023 despite a downturn in funding, noted a new report.

This marked a recovery from a 38.9 per cent drop in 2022, although deal value fell 18.4 per cent to US$1.53 billion in 2023. The report also noted that deep-tech start-ups here are integrating artificial intelligence and machine learning, which marks a shift in how these firms approach research and development and cost management.

Mr Aditya Mathur, managing director of venture capital firm Elev8.vc, highlighted at a panel discussion on April 3 that Singapore’s deep-tech ecosystem has expanded rapidly since 2019.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore leads Southeast Asia in financial management interestpstrongIt was driven by rising per capita income and a growing wealthy demographic./strong/p pSingapore leads Southeast Asia in interest in personal finance management, with a significant indicator of 9.8%, according to an analysis by UnaFinancial.
Source: SBRMagazine - 🏆 13. / 51 Read more »