Singapore injects another 332 million USD to attract deep technology investors

Singapore will spend 440 million Singapore dollars ($332.6 million) for the promotion its deep tech startup ecosystemHopefully these funds will attract more global venture capital (VC) firms to invest in their local communities.

A new “one-stop platform”, including facilities, will also be rolled out to bring together local and global tech startups under one roof. According to a joint statement by Enterprise Singapore (EnterpriseSG) and the Economic Development Board (EDB), scheduled to launch next quarter, the website aims to facilitate collaboration between startups, entrepreneurs and businesses. industry and innovation partners.

Government agencies said the new facility will provide resources and programs to help startups set up shop in Singapore and promote capacity building for business growth. They will also have opportunities for market access and internationalization, including supporting global startups to integrate into the local ecosystem.

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EnterpriseSG and EDB will continue to manage the new $332.6 million fund, which is part of SG Startup Company program — announced alongside Singapore’s 28 billion Singapore dollars ($21.17 billion). Research, Innovation and Enterprise (RIE) Plan 2025.

To date, approximately S$3 billion (US$2.27 billion) has been invested in over 330 startups under the Startup SG Equity programme, including over S$2.5 billion (1, 89 billion USD) from private sector funds.

To further accelerate the development of Phase 3 deep tech startups from early to early growth, the program will increase the government’s co-investment cap to S$12 million (9.07 million USD). million) per startup, up from S$8 million.

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Qualified startups can tap capital for early stages of development, including technology validation and commercialization.

Singapore predicts the additional funds will attract a “large group of prominent, global venture capital funds” to invest in deep-tech startups in Asian markets with the potential to scale up. foreign.

EnterpriseSG and EDB said: “These venture capital funds bring with them deep technical expertise, commercial knowledge and global networks to help startups take their innovative technology from the classroom. experiment to the final market”. quantum computingand space technology.

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“Innovation is key to securing Singapore’s future and we need to adopt a multi-pronged approach to drive the development of new, transformative solutions that create [a] said Emily Liew, assistant executive director of innovation at EnterpriseSG. “We must redouble our efforts to develop a strong core of deep-tech startups, as well as elevate our startup ecosystem to one that is globally oriented and capable. can attract some of the world’s best talent.”

Singapore is also looking to invest in its talent, especially in the sector artificial intelligence (WHO).

In a separate announcement made today, government agency AI Singapore introduced an online learning platform designed to equip aspiring AI engineers with AI and software engineering skills. “suitable for the industry”.

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the AIAP Foundation is built on the learning principles of AI internship program (AIAP), AI Singapore said it will start with a “deep skills self-directed” phase that includes theory and hands-on practice. It advances AI project development, where apprentices will work on a real-world AI project throughout its entire lifecycle.

Here, they will learn about customer challenges, work with real data, select and train AI models, and deploy them. Apprentices will also be guided by AI mentors, project managers, and machine learning operations (MLOps) teams.

Kevin Chng, AIAP head of AI Singapore, said the AIAP Foundation aims to close the gap between supply and demand of AI skills with a “flexible, self-paced” course that allows individuals to programming skills to improve skills in AI techniques.

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The government agency said the curriculum is modeled after AI Singapore’s AIAP pedagogy and is aimed at individuals with a basic proficiency in Python. This includes the fundamentals of exploratory data analysis, building machine learning pipelines, and applying technical skills to “personalized, real-world, data-driven” AI projects. synthetic material”.

After completing the Foundation course, participants can apply for the nine-month AIAP program, which includes further training and skills development work in real-world AI projects.

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AI Singapore said more than 350 participants have graduated from AIAP since its launch.