Feed Buzzard
  • Fitness Trackers
  • General
  • Tech
  • Wearable Tech
  • World Tech
  • World Tech Code
  • Contact Us
No Result
View All Result
  • Fitness Trackers
  • General
  • Tech
  • Wearable Tech
  • World Tech
  • World Tech Code
  • Contact Us
No Result
View All Result
Feed Buzzard
No Result
View All Result
Home World Tech

Singapore Startup Ecosystem – Exclusive Year End Analysis – 2020

Gordon James by Gordon James
October 3, 2021
in World Tech
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Bookmark(0)

Log in to favorite

No bill yet? Login

The COPID-19 epidemic has had serious consequences for the economies of almost all South Asian countries. Singapore is no exception. Restrictions and social exclusion have stifled local consumption and global environmental problems have also affected this export-dependent island nation. But despite the weakening economy, Singapore’s nascent ecosystem has received more than $3 billion. The total value of the transaction was over $200,000.

Singapore’s start-up ecosystem in 2020

Singapore’s efficient judicial system, government support and commercial legislation, well-developed infrastructure, highly skilled labour and dynamic ecosystem have always been attractive factors for international entrepreneurs.

In that year the KOVID-19 epidemic destroyed many aspects of daily life and a large part of the economy built around it. But there are always opportunities coming out of the crisis. The Singapore Start-up Ecosystem has received substantial funding. The government announced 150 million dollars for the SG Founder Startup Program to support the high-tech start-up sector.

The pandemic has been a catalyst for many companies to look for new opportunities. Young companies in the retail, food and technology sectors are developing business models based on the changing circumstances caused by the pandemic.

Singapore Start-up Ecosystem – Major financing agreements in 2020.

AMTD Digital, headquartered in Singapore, is a subsidiary of the AMTD Group’s investment department in Hong Kong. In September 2020, the company successfully raised $285 million from its value partners and other investors. AMTD Digital offers integrated digital solutions, including digital banking, digital goods exchange, digital insurance, digital payments and payments throughout Southeast Asia.

PropertyGuru, a Singapore based real estate platform, recently raised $220 million from global private equity giants and investment companies. The company intends to use this financing to develop its strategic growth sectors. Another startup that managed to raise an enormous amount of money despite the pandemic was Lifespace, a home furnishing and renovation platform. The company received $90 million in financing, led by Swiss investment firm Kharis Capital and Venturi Partners, an investment platform in India and Southeast Asia.

As a start-up in the market, Carousel received $80 million in funding from a consortium of companies. The company offers a wide range of products in different categories, including lifestyle, cars, gadgets and fashion accessories. Since the start of the pandemic, the company has launched several regional initiatives, including providing $2 million worth of free designs to non-profit organizations and government agencies.

The Beacon Investment Fund announced the creation of the Beacon Investment Facility in September 2020 to invest in women entrepreneurs in the emerging markets of Southeast Asia. The company’s original goal was $50 million, and it has already reached 25% of its target.

The health and biomedical sciences sector in Singapore has also grown strongly. It continues to look for ways to alleviate the problems caused by this pandemic and to prepare for future health crises.

Growth of EdTech start-ups accelerated by the pandemic

The EdTech sector in Singapore’s nascent ecosystem also received a boost after the pandemic accelerated the creation of an online and distance learning platform. Singapore’s first EdTech accelerator, EduSpaze, immediately created a database of EdTech tools and resources useful in the fight against the pandemic.

Another online education platform, Tenpoy, has worked hard to reach parents and students during the closed period and has seen a 100% increase in student registration since March. In June 2020, the company signed a memorandum of understanding with the AMKFSC Community Services to provide free tutoring to low-income children for Grade 3 students. Tenpoy not only offers regular live online courses, but also free homework and recorded lessons.

Travel and tourism have experienced an unprecedented collapse

Singapore’s tourism industry contributes 4% to the country’s economy. However, this sector has been severely affected by the pandemic. With security and containment a top priority in a post-pandemic world, start-ups such as Travelstop and Vouch are betting heavily on their AI-based systems when Singapore implements new security measures.

As the economy starts to recover from the VIDOC-19 crisis, AI systems could prove very useful for industry. Fooyo, a Singapore-based startup, creates custom travel planners with real-time tracking of events and attractions.

The Singapore Tourism Board has launched many new initiatives to further support the tourism industry in these challenging times.

Singapore Start-up Ecosystem – On the way to recovery

The development of start-ups in the second half of the year continues to strengthen and validate the starting ecosystem in Singapore. Over time, innovation and technology will be the main drivers of growth to ensure that the country’s start-ups continue to flourish.

If you think that a news story, a start-up or any other function should be included in this story, please send a message to press@asiatechdaily.com. We will be happy to review them and update them if necessary.

What’s your opinion?

+1

0

Voting

+1

0

Cotton

+1

1

Cotton

+1

0

Into the fire.

+1

0

Bont

+1

0

Cotton

+1

0

Related Tags:

startup genome singapore,global startup ecosystem report 2020,startup ecosystem 2020,singapore startup ecosystem ranking,startup genome stages,startup genome global startup ecosystem report 2018,startup ecosystem ranking 2020,israel startup ecosystem 2019,startup ecosystem map,number of startups in singapore 2019

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0
Gordon James

Gordon James

Related Posts

Dan Schatt of Earnity Explain How to Build Wealth with Crypto
World Tech

Dan Schatt of Earnity Explain How to Build Wealth with Crypto

May 17, 2022
World Tech

Rewriteguru – A Platform That Provides a Facility to Reuse Your Previous Contents

April 22, 2022
World Tech

How Live Streaming Changed The Gaming Industry

April 20, 2022
Next Post

Microsoft Teams crash issues during launch

How to Protect Yourself from Increasing Malware Attacks During the Pandemic

Honest Review: TicWatch GTX Review

No Result
View All Result

Recommended

Dan Schatt of Earnity Explain How to Build Wealth with Crypto

Dan Schatt of Earnity Explain How to Build Wealth with Crypto

2 days ago

Earnity—The New Solution for a Simpler Crypto Trading Experience

3 days ago
Crypto According to Earnity’s Dan Schatt and Domenic Carosa

Crypto According to Earnity’s Dan Schatt and Domenic Carosa

3 days ago

Keys to Successfully Marketing Yourself as an Expert Realtor

2 weeks ago

Categories

  • Fitness Trackers
  • General
  • Latest
  • Tech
  • Technology and Computing
  • Wearable Tech
  • World Tech
  • World Tech Code

Recent Posts

  • Dan Schatt of Earnity Explain How to Build Wealth with Crypto May 17, 2022
  • Earnity—The New Solution for a Simpler Crypto Trading Experience May 16, 2022
  • Crypto According to Earnity’s Dan Schatt and Domenic Carosa May 16, 2022
  • Keys to Successfully Marketing Yourself as an Expert Realtor May 6, 2022

Categories

  • Fitness Trackers
  • General
  • Latest
  • Tech
  • Technology and Computing
  • Wearable Tech
  • World Tech
  • World Tech Code

© 2022 FeedBuzzard.com

No Result
View All Result
  • Fitness Trackers
  • General
  • Tech
  • Wearable Tech
  • World Tech
  • World Tech Code
  • Contact Us

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.