Emerging Tech Startups - Singapore Landscape Report
Institutional Funding Status: 2018-2022
Among startups incorporated in 2018 (5 years ago), it took an average of 2 years to receive their first
institutional VC funding, with about 50% VC-funded to date. Those yet to receive institutional VC
funding may have sought alternative funding sources to focus on their development.
Advanced Manufacturing
Agrifood
% Funded to date
52%
20%
24%
0%
0%
70%
38%
% Funded to date
37%
9%
0%
40
40
2325050
15
10
35
30
25
20
15
10
5
0
2019
2020
2021
2022
Seed
ΠΑ
B
M&A/Exit
2018
No Institutional funding
Sustainability
Among startups from the vintage year of 2018, ~50% remain
without institutional funding to date
⚫ The first institutional funding usually comes in the 3rd or 5th
calendar year after incorporation
For startups incorporated in 2018, Agrifood startups received the
highest proportion of institutional funding
• The excitement around Singapore's "30 by 30" initiative could have
resulted in higher investor interest in this vertical in the years
following the announcement.
• This is twice the proportion of cumulative funding received by
sustainability startups of the same vintage year (2018).
The availability of alternative funding mechanisms may explain the
low proportion of institutional funding across the verticals
2018
2019
2020
2021
2022
No Institutional funding
Seed
A
B
M&A/Exit
•
Health and Biomedical Sciences
• The ability to secure sufficient funds from alternative sources
will provide startups with a longer runway to focus on their
development before needing to actively seek institutional
funding to scale.
Examples of such sources may include:
35%
29%
% Funded to date
33%
11%
0%
62%
33%
% Funded to date
32%
•
5%
22%
40
40
35
35
30
Dilutive funding from participating in accelerator/
incubator programmes
Non-dilutive grants from governments and non-profits
Co-development arrangements with customers
and partners
Bootstrapping
30
25
20
15
10
5
0
2018
2019
2020
No Institutional funding
Seed
A
2021
25
20
15
10
5
°
2022
2018
2019
2020
2021
2022
B
M&A/Exit
No Institutional funding
Seed
A
B
M&A/Exit
* Incubator-only pre-seed funding events are excluded
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