"Numerous policies and committees, and agencies along with substantial government funding have been deployed to support the country’s start-ups."
In the past several decades Singapore has made an increasingly strategic push to growing its start-up ecosystem. Numerous policies and committees, and agencies along with substantial government funding have been deployed to support the country’s start-ups. Consequently, over the past several decades its community of investors, university programs for R&D and entrepreneurs, accelerators, unicorns, and start-ups have grown. Today, its ecosystem, with circa 184 accelerators, incubators, and other intermediaries (such as angel networks), over 3,600 tech start-ups, has made Singapore a clear leader in terms of VC and PE investments in the ASEAN region, and it is ranked as one of the most developed ecosystems by global standards.
This case study aims to document the state and evolution of Singapore’s startup ecosystem. It also identifies key characteristics that both distinguish the Singapore start-up ecosystem, as well as provides policymakers from other countries with a glimpse of specific measures they can pursue – identifying both its successes as well as lingering challenges - and distills the lessons learned to inform policymaking in emerging markets that seek to emulate Singapore’s success to date.
The Executive Summary is part of the report titled The Evolution and State of Singapore’s Start-up Ecosystem: Lessons for Emerging Market Economies. To access the full report, click HERE.