Singapore has surged to the fourth position in the Global Startup Ecosystem Index 2025 released by StartupBlink, climbing one spot from last year and marking a rapid ascent from its 16th position in 2020.
Despite 2024 being a challenging year for global startups, characterised by weakened funding flows and geopolitical uncertainties, Singapore’s startup ecosystem remained resilient.
The 2025 Index attributed the country’s impressive performance to its conducive environment for business and innovation. Key factors contributing to its high ranking include strong investor presence, easy access to startup-related opportunities, a high concentration of global ecosystem leaders and corporations, and a large pool of skilled startup talent.
The city-state has become a hub for innovation, with over 4,500 tech startups choosing to base their operations there. Singapore’s comprehensive ecosystem support allows startups to access critical resources across their growth journey, from research and development to commercialisation and global scaling.
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Funding remains a cornerstone of Singapore’s success. In 2024, the country secured nearly 60 percent of Southeast Asia’s total venture deal volume, amounting to over SGD 6.7 billion. With more than 500 venture capitalists operating in the country, including international players like Peak VX and B Capital, Singapore offers a robust platform for startups to access strategic and long-term capital.
The launch of SG Growth Capital in April 2025, a joint initiative by Enterprise Singapore and the Economic Development Board, is expected to further strengthen funding support. Additionally, enhancements to the Startup SG Equity scheme, now funded at over SGD 1 billion, are catalysing private sector investments in early-stage ventures.
“We are encouraged by this recognition of Singapore’s strengths and fundamentals as a global startup ecosystem – one that is open to talent and collaboration, that can consistently provide stability, resources for growth and market access even amid the funding slowdown and headwinds in the global startup environment,” said Emily Liew, Assistant Managing Director, Innovation, Enterprise Singapore (EnterpriseSG). “Enterprise Singapore will continue to strengthen the ecosystem and we welcome global startups with strong science-based solutions to leverage Singapore as a launchpad to grow and scale their business in the region and beyond.”
Startups in Singapore also benefit from an expansive network of over 220 incubators, accelerators, and venture builders. Programmes such as the Global Innovation Alliance and international Co-Innovation initiatives offer access to over 40 markets, enabling startups to collaborate with corporates and scale their innovations overseas.
Local corporates and multinational companies based in Singapore are also playing an increasing role in co-innovation, creating new opportunities for startups through platforms such as the Open Innovation Challenges.
Access to talent remains another pillar of Singapore’s ecosystem. The country boasts a pool of nearly 52,000 research professionals across deep tech domains and continues to attract global founders and tech talent through initiatives like Tech@SG and EntrePass. This diverse and skilled talent base is critical for commercialising advanced technologies and scaling deep tech innovations.
To drive further momentum, Enterprise Singapore is ramping up support through initiatives like SLINGSHOT 2025, a deep tech startup competition that connects promising innovators with venture capitalists and industry partners. This year, the competition has increased its grant prizes by almost 80% to over SGD 2 million. Top global startups selected for SLINGSHOT will undergo an immersion programme in Singapore and pitch their solutions at SWITCH 2025 in October.
Success stories like clean tech firm Thermalytica demonstrate the potential impact of such initiatives. Since winning SLINGSHOT 2023, the company has established a subsidiary in Singapore and secured a proof-of-concept project with a public transport operator, advancing its commercialisation in the region.
In addition to flagship competitions, global startups are encouraged to engage with Stage One, Singapore’s centralised hub for startup support. Stage One aims to connect tech founders with corporates and innovation partners, offering tailored services to help startups integrate into Singapore’s vibrant ecosystem and expand internationally.
Singapore’s continued progress in the global startup landscape signals strong momentum and a clear commitment to fostering innovation-driven growth, despite external challenges facing the wider startup community.
SLINGSHOT 2025
The call for SLINGSHOT 2025 applications is now open and will close on 11 July 2025. Interested parties can find out more details at https://go.gov.sg/slingshot2025-pr.
The four challenge domains for SLINGSHOT 2025 are as follows:
- Manufacturing, Trade & Connectivity
- Health & Biomedical
- Environment, Energy & Green Technologies
- Transformative Digital Technologies
The grant prizes up for grabs include:
- Grand winner grant prize of SGD 400,000
- First runner-up grant prize of SGD 300,000
- Second runner-up grant prize of SGD 200,000
- Domain winner grant prizes (three per domain) of SGD 60,000 each
As part of the prizes, the top three winners of SLINGSHOT 2025 will receive a complimentary 12-month international membership with ACE.SG, which boasts a wide array of resources and information, including mentorship, as well as access to exclusive programmes and events.
JTC, Singapore’s lead agency championing sustainable industrial development, will provide the top three winners with up to 18 months’ rent-free space at LaunchPad. Located in one-north and Jurong Innovation District, LaunchPad brings together startups, incubators, accelerators and venture capitalists in an ecosystem that spurs innovation.
EnterpriseSG will also facilitate the Entrepass for the top three winners, helping them gain a foothold in our tech startup community, and gain access to networking, fundraising, and co-innovation opportunities.
