Exploring Deep Tech in Singapore

Deep Tech Revolution: Charting the Path of Singapore's Innovation Landscape
March 30, 2023

Deep tech refers to cutting-edge technologies that rely on scientific and engineering advancements to solve complex problems in areas such as biotechnology, artificial intelligence, and quantum computing.

In recent years, Singapore has established itself as a hub for deep tech innovation, attracting top talent and investment from around the world.

According to a report by Startup Genome, Singapore is ranked 3rd globally for deep tech startups, with over 400 such companies operating in the city-state.

The government has also made significant investments in deep tech research and development, with over SGD 19 billion allocated to this area in the last decade.

This investment has paid off, as Singapore is now home to some of the world's leading deep tech companies and institutions, making it a top destination for anyone interested in the future of technology.

Deep Tech Startups

In recent years, deep tech startups have gained a lot of attention in the tech industry.

These startups focus on developing and commercializing breakthrough technologies such as artificial intelligence, robotics, biotechnology, and quantum computing.

Singapore has been a hotbed for deep tech startups, attracting some of the most innovative and promising companies in the world.

These deep tech startups are backed by a supportive government, access to cutting-edge research, and a thriving venture capital ecosystem.

The government of Singapore has invested significantly in deep tech, recognizing the potential of these technologies to drive economic growth and solve some of the world's biggest challenges.

According to a report by Startup Genome, Singapore is ranked 9th in the world for deep tech startups, with over 100 active companies in the sector.

These deep tech ventures are not only creating high-quality jobs, but they are also helping to position Singapore as a leader in the global deep tech landscape.

Deep Tech Ecosystem

Singapore's drive towards deep tech innovation has been powered by a number of factors, including its highly developed infrastructure, favorable government policies, and strong partnerships between academia and industry.

To further support its growth, the government has launched various initiatives to create a supportive environment for deep tech startups, including tax incentives, grants, and accelerators.

One of the key drivers behind the development of the deep tech space in Singapore is the government's strong commitment to research and development (R&D).

The government has been investing heavily in R&D, with the goal of developing new technologies and capabilities that can drive growth and competitiveness.

This includes funding for basic and applied research, as well as support for deep tech startups.

Another factor that has helped to build a strong deep tech ecosystem in Singapore is the close collaboration between academia and industry.

The government has encouraged the establishment of partnerships between universities and research institutes, and the private sector, with the goal of commercializing deep tech innovations and bringing them to market.

This has created a virtuous cycle of innovation, as universities and research institutes have been able to leverage industry expertise to refine and commercialize their technologies, while industry partners have been able to access cutting-edge research and development to help drive their businesses forward.

The result of these efforts has been the creation of a thriving deep tech ecosystem in Singapore, with a growing number of startups and established companies using deep tech to develop new products and services, and a supportive government and investment community that is committed to fostering its growth.

Deep Tech Commercialisation

Commercialisation is a crucial aspect in the development of any deep tech innovation.

Singapore has made significant strides in creating an environment that fosters deep tech commercialization and has established itself as a hub for deep tech start ups.

The city-state has created a favorable environment for deep tech startups to grow and scale, through initiatives such as the launch of the SGInnovate program which provides funding, mentorship, and access to resources to startups, as well as the establishment of innovation centers such as the JTC LaunchPad that provides physical space for startups to work and collaborate.

Furthermore, the government has taken a proactive approach in promoting deep tech innovation, providing funding and support through various initiatives such as the National Research Foundation’s Deep Tech Program, which aims to foster innovation in areas such as artificial intelligence, robotics, and biotechnology.

Through these initiatives and others, Singapore has created an environment that not only supports deep tech commercialization but also attracts and retains deep tech talent, making it an attractive location for deep tech startups looking to grow and scale.

Key Players Driving Deep Tech Innovation in Singapore

In Singapore, there are a number of key players driving deep tech innovation.

One of the key drivers is the government, which has been actively investing in research and development in this area through various initiatives, such as the Research, Innovation and Enterprise (RIE) 2020 plan and the SG-Innovate program.

The government has also established several research centers, such as the National Research Foundation and the Institute of Microelectronics, which are focused on promoting deep tech research and development.

Private corporations also play a significant role in the development of deep tech in Singapore.

Major tech companies, such as Google, Microsoft, and IBM, have set up research and development centers in the city-state, providing a wealth of expertise and resources for deep tech startups.

Additionally, many venture capital firms and accelerators, such as Jungle Ventures and Startup SG, provide funding and support for promising deep tech startups.

Venture capitalists in southeast Asia have benefited widely from business development in the deep tech innovation ecosystem and similar other sectors

Another important player in the deep tech scene in Singapore is the academic community.

The city-state is home to several top-tier universities, such as the National University of Singapore and Nanyang Technological University, which are actively involved in cutting-edge research in areas like artificial intelligence and biotechnology.

These universities also collaborate with industry partners, providing students with hands-on experience in commercializing deep tech innovations.

Overall, the combination of government support, private investment, and academic research has helped establish Singapore as a hub for deep tech innovation and commercialization.

The Future of Deep Tech in Singapore

The future of deep tech in Singapore looks bright, as the government and key players continue to invest in and support this growing industry.

With a focus on innovation, research and development, and the commercialization of cutting-edge technologies, Singapore is well positioned to be a global leader in deep tech in the coming years.

The development of new technologies such as AI, robotics, and blockchain will continue to drive growth and transformation across various industries, and Singapore is well placed to take advantage of these opportunities.

With a talented pool of engineers, scientists and entrepreneurs, and a supportive ecosystem that provides access to funding, resources, and mentorship, deep tech startups in Singapore are poised for significant growth and success.

In addition, the government has launched various initiatives and programs to encourage the development and growth of deep tech startups.

This includes providing funding and mentorship opportunities, as well as providing access to key networks and industry experts.

In conclusion, the future of deep tech in Singapore is very promising, and with continued investment and support, the country is poised to play a significant role in shaping the future of technology and innovation on a global scale.

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