Despite a downturn in funding, Singapore was Southeast Asia’s top startup investment destination in 2023, according to a new report.
In 2023, startups based in the country accounted for 63.7% of all equity deals in the ASEAN-6 group of nations, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. This is up from 56.7% in 2022.
The Enterprise Singapore and DealStreetAsia report also notes that Singapore’s deep-tech start-up ecosystem flourished last year, with a 31.4% year-on-year increase in deals.
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