Amid the challenges of the current global economic slowdown, Singapore, the Asian startup hub, seems to have been less affected. with continued growth in fundraising Although the number of new unicorns born this year will be less.
Known as the “ Silicon Valley of Asia, ” Singapore, a hub for innovation and startups, is home to over 4,000 industrial startups and 630 investors in these startups.
According to data from Enterprise Singapore , the Singapore government's entrepreneurial capacity development agency, the country's innovation and startup ecosystem is growing. Encouraging investment, partnerships, and joint innovation, the value reached approximately 382 billion baht last year.
Singapore's startup and innovation ecosystem has maintained strong growth over the past five years, maintaining a vibrant and resilient atmosphere. amid the pandemic of COVID-19
Enterprise Singapore said fundraising activity had doubled to S$14.7 billion in 2021, growing more than 45% year-on-year between 2017 and 2021, signaling of confidence in the investment atmosphere in Singapore startups.