Singapore leads Southeast Asia in terms of investment, startup growth, AI innovation and other factors. However, it is also the smallest market in the region, in terms of population and land mass, making it reliant on external factors for growth.
We take a look at the Singapore landscape, from the eyes of founders who share their thoughts on different aspects of the market. As we enter 2025, we try to glean some insights from the previous interviews conducted on our platform.
Singapore’s deeptech industry is thriving
Singapore’s government remains highly supportive of deep-tech innovation through grants, subsidies, and strategic initiatives aimed at fostering a conducive environment for research and development. This governmental backing ensures that deep-tech ventures have the financial support needed to advance their cutting-edge technologies from concept to market. The Research, Innovation and Enterprise (RIE) 2025 plan, with a budget of S$25 billion, underscores the nation’s commitment to advancing key sectors such as health, sustainability, the digital economy, and manufacturing. However, just ploughing money into R&D is not enough; commercialisation plays a big part in achieving growth. The risk-sharing initiatives taken by the government for investors and financial institutions through equity and cash flow financing have pulled in substantial private capital in recent years and we believe this is a key factor in maintaining a steady flow of capital for deep-tech startups.
Read the full interview with Luuk Eilens, Founding Partner of SDTA
The evolution of Singapore’s gig economy
We’ve witnessed significant evolution in the gig economy, particularly in Singapore, over the past few years. The pandemic has accelerated this growth, with many full-time employees transitioning to gig work to achieve better work-life balance and flexibility. We’ve observed an increasing number of business partners utilising our platform to hire gig workers for shift work, which has been met with a corresponding rise in the worker pool.
However, this transition has highlighted a critical issue: many gig workers lack access to traditional employment benefits. This gap undermines the initial appeal of gig work, which promised the freedom of “being your own boss”.
In recent years, there’s been a growing call to recognize gig work as a legitimate form of employment, ensuring that gig workers receive protections and benefits similar to those available to full-time employees. We are encouraged by Singapore’s forthcoming plans to address gig workers’ retirement needs.
Read the full interview with Sebastian San, Country Manager (Singapore) of Jod.
The role of collaboration tools in supporting Singapore’s growth
A major trend we are seeing in Southeast Asia is that organisations are beginning to recognise that improving top-line revenue, boosting productivity, and reducing costs are all connected to the collaboration tools they adopt. Improving collaboration has thus become top of mind, especially as companies in the region continue to seek their best-fit hybrid work model. No matter the model—be it more days in the office, more at home, or anywhere in between—there remains a critical need for effective collaboration between increasingly dispersed teams. A recent survey we conducted with Morning Consult found that nearly half of Singapore leaders (45%) spend at least one hour catching up on overdue tasks. The same is true for Singapore employees (32%), though to a lesser extent. Leaders bear the brunt of ineffective collaboration when wasted time could be channelled into higher-value tasks, such as building relationships and creative brainstorming—all of which could directly impact the bottom line.
Read the full interview with William Smith, Head of Mid-Market Sales, Asia at Zoom
Singapore’s role in GenAI adoption
In this region, Singapore stands out as a global technology hub. Once focused on becoming a “Digital First Nation,” Singapore has now shifted to building an “AI First Nation.” The government has actively promoted AI research and development through initiatives like the National AI Strategy (NAIS 2.0), which is guided by the vision: “AI for the Public Good, for Singapore and the World.”
Singapore’s strategic location, pro-business policies, and strong emphasis on innovation have made it a magnet for AI startups and multinational corporations. The government collaborates with AI-focused research institutions like AI Singapore, which provides funding and support for AI startups and projects.
Read the full interview with Sarah Taraporewalla, CTO for APAC at Thoughtworks