How Is the Start-up Scene in Singapore?
The stories about big start-ups getting millions in investment, being accepted into globally competitive accelerators, or being bought for millions in cash are everywhere. If you're one of the many people who really want to build a venture with real value, is Singapore the right place to do so?
Singapore has a world-class ecosystem for startups and entrepreneurs. New business ideas are supported by infrastructure, tax breaks and grants that help aspiring companies get off the ground. The government is also encouraging an investment environment to ensure risk capital is available to help entrepreneurs succeed.
Singapore has a vibrant and growing startup ecosystem and has been ranked as the 18th-best startup ecosystem in the world.
Here's what you need to know about the state of entrepreneurship in Singapore today:
There's a lot of VC money in Singapore right now
The fast-expanding start-up ecosystem is becoming more enriched. Singapore is ranked first in Asia and seventh globally in Startup Blink's Global Startup Ecosystem Index 2022. Singapore's startup ecosystem has a value of $25 billion, far exceeding the global average of $5 billion, and early-stage funding per startup totalling $202,000.
Startups need an ecosystem of investors and business partners to provide funding and expertise. The government has been working hard to ensure that there are enough venture capital funds and angel investors to support this growth.
The Economic Development Board (EDB) also provides funding for promising startups through its Seed Funding Scheme or Enterprise Innovation Scheme (EIS).
Singapore has a lot of startup accelerators
Startups need an ecosystem of investors and business partners to provide funding and expertise. These include angel investors who provide seed capital, private equity firms that provide growth capital, incubators that provide office space and mentorship and accelerators that help startups develop products among other benefits.
Singapore is also home to several incubators and accelerators, which provide office space, mentorship and legal support for startups.
Singapore has a good public education system
The country has one of the highest literacy rates in the world and high school and university enrollment rates.
Singapore also has a track record of sending students to top universities in the world; many go on to become leaders or entrepreneurs themselves.
The government also supports small businesses with generous grants and loans for entrepreneurs who want to start up their own companies.
Moreover, there's no shortage of investors willing to invest in promising businesses if they see potential in them
Singapore has great support from government agencies like Enterprise Singapore and SPRING
In addition to the support from the private sector, there are several government agencies that provide funding and mentorship for startups. Enterprise Singapore and SPRING are two of the most popular ones.
Enterprise Singapore is the single agency promoting the growth of Singapore companies of all sizes.
These agencies take an enterprise-centric approach in working with the companies, streamlining assistance for greater effectiveness and leveraging partnerships for greater reach internationally.
The government is investing in tech companies and startups through its Future Fab program
The government is investing in tech companies and startups through its Future Fab program. The initiative, which was launched in 2015, aims to help small and medium-sized enterprises (SMEs) grow by providing funding and mentorship as well as access to government procurement opportunities.
The program offers grants of up to $200,000 per company over two years; it also provides additional financing from the National Research Foundation (NRF), a grant-making body under the Ministry of Trade & Industry (MTI).
The NRF recently announced that it would invest S$3 million into seven startups through its Innovative Enterprise Grant scheme.
The startup scene in Singapore is growing, but it still has room to improve
Singapore is a great place to start a business. The government is supportive of entrepreneurship, and there are many programs and initiatives that help entrepreneurs get started.
The startup scene in Singapore is growing, but it still has room to improve. There are many VC funds investing in startups here (especially health-related ones), as well as accelerators like 500 Startups Asia Pacific and Supercharged Startups which provide mentorship and funding for early-stage companies.
With so many startups popping up year by year in Singapore and making it is an exciting place for aspiring entrepreneurs. Singapore is indeed the perfect place for aspiring entrepreneurs to start their businesses instead of other countries which are much more expensive.
There is no denying that Singapore's startup scene is just starting to thrive. However, there is little doubt that this scene will continue to grow in the coming years in Singapore, aptly named the upcoming Silicon Valley of Asia.
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For Companies registered and operating in Singapore, with up at least 30% local shareholding - leverage on the Enterprise Development (EDG) grants for your next; Strategy, Implementation or Enablement project with us at Devhaus!
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Frequently Asked Questions
Here are some pointers, and a little - 'Quick bite-sized information'.
A: The choice depends on your current stage and specific needs:Alpha ($15K) - If you need to validate a new idea, conduct market research, or develop a go-to-market strategy before building anything
Beta ($25K+) - If you're ready to build an MVP, new website, or CMS with user-focused design and basic analytics
Gamma ($50K+) - If you have an existing system that needs growth acceleration, marketing automation, or enhanced analytics
Delta ($200K+) - If you're undertaking comprehensive digital transformation with legacy system modernization
Epsilon ($30K+) - If you have existing systems (preferably built by us) that need performance optimization and technical debt reductionNot sure? Book a free 30-minute consultation with Rohan (rohan@admiralsystems.io) to discuss your specific situation and get a tailored recommendation.
Our pricing is completely transparent with fixed-scope packages:
What's Included:
- Dedicated team of 3-5 specialists per engagement
- All deliverables listed in the engagement model
- Comprehensive enablement documentation
- Project management and regular progress reports
- Up to the maximum man-hours specified (200-1,200 hours depending on engagement)
No Hidden Costs Policy:As long as your project stays within the agreed scope and timeline, there are no additional charges
- All potential add-ons are clearly listed upfront with fixed pricing
- For Singapore companies: EDG grants can cover 50-70% of costs (we handle the entire grant process)
When Additional Costs Apply:
- Scope changes beyond the original engagement (requires new engagement purchase)
- Client-caused delays that exceed allocated man-hours
- Optional add-ons you specifically request
Each engagement has a defined maximum timeline:
- Alpha: 2-8 weeks (200 hours)
- Beta: 8-12 weeks (280-500 hours)
- Gamma: 16-20 weeks (700 hours)
- Delta: 26-52 weeks (1,200 hours)
- Epsilon: 6-10 weeks (300 hours)
- Project Delays: We build buffer time into our estimates to account for normal client feedback cycles
( If delays are caused by our team, we absorb the additional costsIf delays are client-caused and exceed our allocated man-hours, additional charges may apply at our standard hourly ratesWe provide weekly progress reports so you always know where we stand)
- Acceleration Options: Rush delivery available with 50% surcharge for urgent needs
We can often compress timelines by adding additional team members! If you have your own development team, we're more than happy to take it up to hi-fi prototyping so it'll be a ton less work for your Dev team!
We can only guide you through it - having said that, we're experienced grant partners and handle the entire process:
Grant Coverage:
- Singapore SMEs: Up to 50% of project costs covered
- Sustainability projects: Up to 70% coverage (until March 2026)
- Our services align with multiple EDG categories: Business Strategy Development, Financial Management, Human Capital Development, and Strategic Brand & Marketing Development
Our Grant Process:
Partner Network: We work with Real Inbound Consulting (certified TR 43/SS 680) for grant administration
Full Service: Application preparation, document submission, project management, audit support, and claims processing
Administration Fees: $7,800-$15,000 depending on project size (much less than the grant savings)
Success Rate: High approval rate based on our experience with 50+ grant applications
Eligibility Requirements:
- Singapore-registered company30%+ local equity held by citizens/PRs
- Financially stable to complete the project
- Project hasn't commenced before application
Timeline: Grant approval typically takes 4-6 weeks before project commencement.
We offer multiple post-engagement options:
Immediate Post-Completion:
- 30-day warranty period for any bugs or issues
- Complete handover documentation and training
- Knowledge transfer to your internal team
Ongoing Support Plans:
Starting from
Basic ($5K/year): 40 hours, bi-annual check-ins, basic troubleshooting
Advanced ($10K/year): 80 hours, quarterly check-ins, strategy sessions
Premium ($20K/year): 120 hours, monthly check-ins, dedicated account manager
Growth & Evolution:New Requirements: Purchase additional engagement models for new projects
System Expansion: Beta → Gamma → Delta progression path available
Continuous Optimization: Epsilon engagements for ongoing performance improvements
Key Principle: Support covers maintenance and optimization of existing systems, but new features or integrations require new engagement models to ensure proper scoping and quality.
Key differentiators set us apart:
1. Asian Market Expertise:
- First Webflow Enterprise partner in Asia
- Deep understanding of Singapore, Hong Kong, and Indonesian markets
- Multi-language, multi-currency, cross-border commerce experience
2. Comprehensive MarTech Integration:
- Partners with 15+ best-in-class platforms (Segment, Customer.io, Fullstory, etc.)
- End-to-end data pipeline orchestration (not just point solutions)
- Unified dashboard approach preventing "tool sprawl"
3. Award-Winning Creative + Technical Team:
- 2024 Fullstory Service Partner Award winner (APAC)
- Design team that creates "jaw-dropping creatives" alongside technical implementation for your analytics
- Creative-technical convergence in every project
