Singapore's tech start-ups raised $5.3b in first half of 2021, up from $3.4b in 2020

The Straits Times2021-08-04

SINGAPORE - Tech start-ups in Singapore raised $5.3 billion in the first half of this year, up from $3.4 billion in the same period last year. The Republic has also added three unicorns - software ...

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jtan81
2021-08-04
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore's tech start-ups raised $5.3b in first half of 2021, up from $3.4b in 2020\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-04 15:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.straitstimes.com/business/singapores-tech-start-ups-raised-53b-in-first-half-of-2021-up-from-34b-in-2020><strong>The Straits Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE - Tech start-ups in Singapore raised $5.3 billion in the first half of this year, up from $3.4 billion in the same period last year.\nThe Republic has also added three unicorns - software ...</p>\n\n<a href=\"http://www.straitstimes.com/business/singapores-tech-start-ups-raised-53b-in-first-half-of-2021-up-from-34b-in-2020\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"STI.SI","symbol_name":"富时新加坡海峡指数","start_time":0,"source_url":"http://www.straitstimes.com/business/singapores-tech-start-ups-raised-53b-in-first-half-of-2021-up-from-34b-in-2020","article_id":"2156117228","we_media_id":null,"thumbnails":[],"rights":{"source":"straits_highlight","url":"http://www.straitstimes.com/business/singapores-tech-start-ups-raised-53b-in-first-half-of-2021-up-from-34b-in-2020","rn_cache_url":null,"customStyle":"","selectors":"body","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2156117228","pubTimestamp":1628062612,"sourceInfo":{"source_id":"straits_highlight","name":"Straits Times"},"weMediaInfo":null,"summary":"SINGAPORE - Tech start-ups in Singapore raised $5.3 billion in the first half of this year, up from ","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"translate_title":"新加坡的科技初创企业在2021年上半年筹集了530万美元，高于2020年的340万美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STI.SI":0.9},"content_text":"SINGAPORE - Tech start-ups in Singapore raised $5.3 billion in the first half of this year, up from $3.4 billion in the same period last year.\nThe Republic has also added three unicorns - software firm PatSnap, used car marketplace Carro and payments company Nium - to its ranks this year.\nThis demonstrates the resilience of the start-up ecosystem in Singapore despite the challenges of the Covid-19 pandemic, said Enterprise Singapore (ESG) chairman Peter Ong on Wednesday (Aug 4).\nThe number of fundraising deals closed in the first six months of the year - 355 - was also higher than last year's 317, he noted.\nSpeaking at the SG Innovation Community Day, which was held in a hybrid format at JW Marriott Hotel Singapore South Beach, Mr Ong noted that there has been greater interest among Singaporeans to pursue entrepreneurship during the pandemic.\nESG's Startup SG Founder venture building programmes have trained over 680 aspiring entrepreneurs since its launch in August last year. About half of the participants are mid-career professionals, managers, executives and technicians (PMETs) who were unemployed, he said.\nAs part of efforts to sustain this growth momentum and support more quality start-ups, ESG's investment arm Seeds Capital will be appointing 13 new venture capital (VC) firms as co-investment partners under the Startup SG Equity Scheme.\nThis brings Seeds Capital's active pool of partners to 46, and is intended to drive more than $150 million worth of investments into three deep tech sectors - advanced manufacturing and engineering, health and biomedical sciences, as well as urban solutions and sustainability, said Mr Ong.\nIn a separate statement, Seeds Capital chairman and ESG deputy chief executive Ted Tan said: \"Catalysing more VC investments in this current environment where investors tend to be more cautious is significant.\n\"Seeds Capital can now offer deep tech start-ups, which have innovative and scalable solutions, with the opportunity to be mentored by our new partners who bring with them extensive market connections and a wealth of sector-specific domain knowledge to increase their chances of success.\"\nAmong the new co-investment partners are innovation platform Plug and Play, VC fund Quest Ventures and family office Schweizer World Group.\nBesides funding, these partners will also provide mentorship and help start-ups in their commercialisation efforts.\nIn his speech, Mr Ong also highlighted how deep tech incubators and accelerators have partnered ESG through the Innovation and Enterprise Fellowship Programme, which was launched last year and seeks to equip deep tech talent with business development skills.\nThe government agency is appointing an additional nine partners to the programme, including food manufacturing incubator Innovate 360 and agri-tech accelerator Grow. 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