Most tech start-ups are usually engaged in the Internet, mobile and e-commerce work, based on business model innovation, incremental service improvements or the deployment of standardised technologies. On the other hand, deep tech start-ups focus on patent-backed technologies that are based on hardcore scientific research in the fields like life sciences, medical technology, clean technology, renewable energy, urban solutions and autonomous technology.

The commercialisation of scientific discoveries is a high-risk venture, which requires large investments and long gestation periods. Such ventures are usually undertaken by academia and require extensive testing and regulatory approvals.

^{Figure 1: Jurong Innovation District – Singapore’s new hub for innovation and advanced manufacturing}

^{*Estimated 
Source: JTC, Google Earth, JLL Research}

In the northeast, Singapore’s next-generation smart district - the 50-hectare Punggol Digital District - which incorporates a business park and the Singapore Institute of Technology’s new campus - is shaping up as a living lab for cybersecurity, smart living and smart estate solutions. It will stand out for its Open Digital Platform that collects real-time data from the district, to be used by public agencies, companies and students to test green technologies and sustainable urban solutions, among others.

^{Figure 2: Punggol Digital District – Singapore’s next generation smart district}

^{*Estimated
Source: JTC, Google Earth, JLL Research}