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The Uptake | Singapore’s flourishing startup ecosystem

Written by The Uptake Published on   1 min read

The local startup scene has grown by leaps and bounds over the past decade.

Hi, it’s Edmund.

This week, I chatted with Joseph Khong, assistant director and head of communications & engagement of ACE, who said Singapore’s startup scene is very different compared to a decade ago.

Established in 2003 by the Ministry of Trade and Industry, and re-launched as a private sector-led, non-profit organization in 2014, ACE focuses on five ecosystem pillars: startups, corporations, institutes of higher learning, risk capital, and the public sector.

Indeed, the startup ecosystem in Singapore today, which includes family offices, VC firms, and angel investors, is buzzing and more competitive than ever. Even multinational corporations are muscling their way into the local startup scene by setting up their own venture arms to boost the chances of finding the next homegrown unicorn.

To learn more about Singapore’s startup ecosystem, including the major challenges faced by homegrown firms, read the article here.

In The Bullet this week

Imagine a world where artificial intelligence runs our lives. From the moment we wake up, AI is there to greet us and help us get ready for the day ahead. It helps us plan our schedules, find the best routes to work, and even suggests what we should wear. But what happens when we become too reliant on AI? How will it shape the way we live and interact with the world around us?

Read Degen’s column here.


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