Singapore is a leading startup ecosystem in Southeast Asia, due to its pro-business climate and attractive location for accessing the Southeast Asian market. Singapore is home to 4,500 tech startups, 400 VCs, and 240 accelerators, venture builders and incubators, laying a strong foundation for a globally competitive ecosystem. It is evolving into a global Deep Tech hub, focusing on technology-intensive products rooted in extensive scientific research. Over the past three decades, Singapore has made significant investments to develop its Deep Tech ecosystem, including committing 1% of its GDP to The Research, Innovation and Enterprise 2025 Plan.

Despite being an attractive destination for incorporating startups, the biggest challenge that Singaporean startups face is that their local market is relatively small. Singapore startups, particularly deep tech startups target international markets including in the US, Europe, China, Japan, and India, in addition to South East Asian countries such as Malaysia, Indonesia and the Philippines.