"It is maturing a little bit, but there needs to be fundamentals in place. First of all, [as a startup] you need to know that the market is not in Singapore. It is either in the U.S. or China. These are the biggest healthcare markets. We should learn from similar markets such as Israel and Taiwan. Right from day one, they know their country is not the right starting market, so they capitalize on their historical and cultural linkages with Israelis overseas. Similarly, Taiwan has historical and cultural linkages with China." says Ong Jeong Shing, Investment Director of Venturecraft
"You need a few key elements: a pipeline of projects, talents, and partners such as early-stage investors, prototyping workshops and incubators. We don't have a lot of these in Singapore. There have been success cases of overseas medtech companies coming to Singapore and going public, such as QT Vascular and Trendlines Group, but there are fewer cases of home-grown successes." says Ong Jeong Shing, Investment Director of Venturecraft
"Even if you successfully test-bed a product here, the small population in Singapore means you will not be prepared for large volume transactions. This could result in under-building a product. If startups test-bed here, they will need to expend effort to undo what they've built for use in other markets, increasing business expenditure. Instead, they should go quickly into the global markets where they want to be anchored." says Isaac Ho, CEO of Venturecraft
TECH continues to be the top sector attracting investments this year.
According to a report by global valuation firm Duff and Phelps, Singapore saw a record value of private equity (PE) and venture capital (VC) investments in 2016, with 100 such deals valued at US$3.5 billion. Of these, tech accounted for the majority of deal volume (53 per cent) and deal value (34 per cent).
In recent years, more and more venture capitalists (VCs) have set foot in Singapore, coming from afar to find the next big idea to invest in. As of the end of November, there were 28 VC managers licensed or registered with the Monetary Authority of Singapore (MAS) — about triple the number just three years ago.
As investors become more cautious, there is greater interest in growth-stage venture capital funding, says Isaac Ho of Venturecraft Group. The number of venture capital (VC) deals globally has fallen as investors hit the brakes on their start-up investments amid volatility in China...
Unfortunately for many would-be unicorn traders, despite the influx of money, including Venturecraft Two, a $50m fund aimed at boosting medtech and ICT startups in the region, it seems to be getting harder, not easier to get financing.
AS dual-class share structures appear to be one step closer to reality in Singapore - despite all the arguments against such a move - one key question is whether it will lead the Singapore Exchange to becoming a major venue for international listings, in particular for tech initial public listings.
Nearly S$50 million have been added to the Singapore startup ecosystem, The Business Times learnt on Monday. Of the amount, US$35 million is a Series B funding round raised by e-commerce startup Carousell, while another S$1.34 million comprises investments into two first-of-their-kind accelerator programmes in insurance tech (insurtech) and tourism.