Singapore Startup Ecosystem: An Overview

 

Singapore’s Ranking

 

Places Ranking Performance Funding Market Reach Talent Startup Exp Growth Index
Silicon Valley 1 1 1 1 2 1 4.2
New York City 2 3 2 3 7 4 4.5
London 3 ↑3 4 4 2 10 5 4.8
Beijing 4 New 2 5 19 8 2 4.4
Boston 5 ↓1 6 6 12 4 3 4.0
Tel Aviv 6 ↓1 9 8 4 11 7 4.5
Berlin 7 ↑2 7 9 6 5 10 4.6
Shanghai 8 New 8 3 10 9 13 5.5
Los Angeles 9 ↓6 5 7 15 14 11 4.2
Seattle 10 ↓2 12 13 14 3 6 4.5
Paris 11 14 14 9 16 8 4.2
Singapore 12 ↓2 16 16 11 1 20 4.6
Austin 13 ↑1 15 11 19 6 9 4.3
Stockholm 14 New 17 20 8 18 12 5.3

Source: Startup Genome (2017). Compass.co,. (2016). The Global Startup Ecosystem Ranking 2015. Compass.co.

 

Distribution of Singapore Tech Startups by Sector

Source: Estimates from ACE as at Nov 2016

 

 

 

ShopBack (Success Story)

 

Prominent Exits

Lazada
  • South East Asia’s Online marketplace
  • Acquired for US$1.0b by Alibaba Group
Viki
  • Singaporean video streaming platform
  • Acquired for US$200m By Rakuten
Zopim
  • Live Chat Support Software
  • Acquired for US$30m by Zendesk

 

ShopBack (Success Story)

2014

  • Online cashback platform founded by Joel Leong, Henry Chan, and Bryan Chua
  • Raised USD500K from Accel-X and other investors

 

2015

  • Entered the E-Commerce market in Malaysia, the Philippines and Indonesia
  • Raised USD600K from Accel-X and East Ventures
  • Awarded the Best Start Up (Gold) and Best Innovative Infocomm Product (Silver) and at the 7th SiTF Awards

 

2016

  • Entered the E-Commerce market in Taiwan
  • Launched mobile app and ranked #1 in the ‘free’ category of the iOS App Store in less than 24 hours
  • Winner of the Emerging Enterprise Award

 

2017 (WIP)

  • Entered the E-Commerce market in Thailand
  • Global Mobile Challenge Winner