Funding for startups grew more than 45% per annum: Gov’t

Funding activities reached $14.7b in 2021.

Startup funding increased exponentially to reach $14.7b by more than 45% yearly between 2017 and 2021 as the government continues to support the startup ecosystem, Enterprise Singapore (EnterpriseSG), said.

Whilst their venture funding within the first half of 2022 was at $8.18b, which rose 54% compared to the same period last year.

To continue this progress, Enterprise SG said it introduced more financing opportunities, providing the right platforms and infrastructure, and increasing local and global talent.

EnterpriseSG backed over 780 firms through its Global Innovation Alliance programmes, which connects the companies to tech communities and global business.

There is also the government’s co-innovation programmes, where firms jointly develop and test-bed new solutions.

Singapore landed the 18th spot for the world’s best startup ecosystem. It is also attractive to investors because of its high quality startups.

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