The Singapore government is sparing no effort in creating a fertile ground for deep tech start-ups to flourish.

SGInnovate, a government-owned venture firm, was set up in November 2016 to fund and support projects applying deep tech. By October 2019, the firm has reportedly invested SGD 40 million in around 70 local and foreign deep tech start-ups, which, in turn,has attracted SGD 450 million of funding from the market. Besides nurturing start-ups, SGInnovate has also established a 30,000-member deep tech community.

Singapore’s Budget 2020 has also specifically set aside SGD 300 million to catalyse investments into deep tech start-ups.

Meanwhile, several hubs are being developed across the island that will provide the necessary ecosystems to facilitate synergies and collaborations between the academia, start-ups, research institutes and industry professionals, while concurrently serving as living labs for the testing of deep tech prototypes.

Head west and a new 600-hectare Jurong Innovation District cover the Nanyang Technological University, start-ups and research institutes at CleanTech Park, the high-tech manufacturers in the Bahar and Bulim precincts and the new Tengah housing estate. These are being developed to cater to companies in growth sectors like advanced manufacturing, urban solutions and smart logistics.

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