The Startup Ecosystem of Singapore

Singapore has 1 city in the top 1000 and has a vibrant startup scene that ranks 6th within the competitive global top 10.


Singapore’s startup scene saw an increase in 2023 and jumped 1 spot from the previous year, outranking Germany.



Regional Ranking

In South East Asia

Global Ranking


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Startup Ecosystem Overview

a large body of water with a city in the background
Singapore is a model for innovation and another great example of a relatively small country that massively over-performs. The country has become a location of choice for the incorporation of startups operating in Asia due to its financial stability, pro-business approach, and tax policies. Because Singapore has a small market and population, its ecosystem’s growth depends on scaling overseas. This aspect gives the ecosystem a unique regional perspective from the start. Attesting to this is the nation’s success in producing billion dollar valuations. The dominance of companies like Grab is a great example of how Singapore is becoming the headquarters of activities for leading regional startups.

The Singapore ecosystem boasts a growing number of accelerators and support networks. For instance, Enterprise Singapore has accelerator programs that allow early stage startups to access financial aid and business loans, while initiatives such as Startup SG focus on promoting Singapore’s startup ecosystem. The country also has a strong digital infrastructure and plenty of investment sources. On top of this, the country’s universities are involved in the startup scene, not only by training a highly qualified workforce for the R&D sector, but also in connecting programs to startups and encouraging entrepreneurship on campuses.

Singapore’s public sector is highly supportive of the startup ecosystem, but the country should be careful not to turn this support into a dependency. Moreover, attracting talent and maintaining competitiveness on a global scale should also be focal points for Singapore which is rapidly replacing Hong Kong as the favorite Gateway to Asia. Some challenges are still evident: high real estate prices make it harder to attract non established foreign talent, and there is a general risk averseness in the local population.
Initiatives such as the Entrepreneur Pass (EntrePass) could become instrumental in keeping up with the high demand for a qualified workforce. Considering the country’s stability and infrastructure, it is only natural for Singapore to make the next big leap from its leading role in Asia to become a truly global startup ecosystem.


Singapore Top Startup Industries

Foodtech icon
#2 worldwide

364 startups

Ecommerce & Retail icon
Ecommerce & Retail
#3 worldwide

323 startups

Fintech icon
#3 worldwide

195 startups

Ecosystem HealthCheck

Singapore Ecosystem Health Check

The health check tables allow you to look at the performance Singapore has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...

  • Overperformance
  • Performance equal to global ranking
  • Underperformance
ParameterParameter Global rankParameter rank change since 2022ResultContribution to total scoreRank gain / loss due to parameter
Total Score6126.571100%0
Quantity Score19-42.72910.27%-1
Sample size of startups31-139726.24%-2
Sample size of accelerators27-3681.31%1
Sample size of coworking spaces55-211892.19%1
Community Score2N/A0.1410.53%0


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The Startup Ecosystem in Singapore

Our startup ecosystem map for Singapore includes a sample of 1399 tech companies. We have identified as unicorns 15 startups that have passed the USD 1 billion valuations. Contributing to the vitality of this startup ecosystem are the 3 pantheon member entities.

Global Rank

Singapore is ranked within the top 10 startup ecosystems globally.

Top Industries

Singapore’s startup scene is best represented in Foodtech, Ecommerce & Retail, and in and Fintech.

Top Cities for Startups in Singapore - Ranked by StartupBlink
StartupBlink ranks the startup ecosystems of 100 countries and 1,000 cities. Download our latest Global Startup Ecosystem Report.
2023 National Rank & Change ▲
2023 National Rank & Change City
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Global Rank & ChangeTotal Score
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Quantity Score
Quality ScoreBusiness Score
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Notable Startups in Singapore
ONE Championship startup icon
ONE Championship
ShopBack startup icon
RedDoorz startup icon


Successful Foodtech startups in Singapore
Flash Coffee startup icon
Flash Coffee
Grain startup icon
Shiok Meats startup icon
Shiok Meats

Featured Startup Ecosystems

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