Singapore surpasses San Francisco as top startup hub globally

Startups with sustainable business models lead investment deals.

Singapore has overtaken San Francisco as the premier hub for startup growth, according to the 2025 Hypergrowth Startup Index by HubSpot.

The report also found that Asia is becoming a new epicenter for innovation alongside strong performance from other hubs like London.

Energy sector companies posted a 37% growth rate, slightly surpassing IT at 36%. Meanwhile, B2B and commercial services outpaced many technology-focused sectors.

Average deal sizes for sustainable business models increased approximately 43% from $35m in 2023 to $50m in 2024.

In addition, mergers and acquisitions represent 43% of exits whilst IPOs account for just 6%.

HubSpot sourced data from PitchBook Data in February, with expert interviews conducted in February and March 2025.

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