COTD: Singapore secures No. 2 spot in Asia's top startup ecosystems

Globally, the city-state ranks ninth with 20 active unicorns.

Singapore ranks second in Asia's top five startup ecosystems by value, with $184b (US$144b) and early-stage funding amount of $4.4b (US$5.6b), according to a Startup Genome report.

Globally, the city-state ranks ninth with 20 active unicorns against the global average of four.

Singapore committed $24.2b (US$18.9b) to research and development via the Research, Innovation, and Enterprise plan from 2021 to 2025.

The plan received an additional $2.9b (US$2.27b) last year to deepen capabilities in manufacturing, sustainability, and the digital economy.

Moreover, to further stimulate private investments in Deep Tech startups, the government allocated $422m (US$330m) to an equity co-investment scheme, bringing the fund total to more than $970m (US$757m).

($1=US$0.78)

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