The Singapore Startup Accelerator (SA) Market has grown exponentially over the past few years driven by the increasing number of aspiring entrepreneurs and supporting initiatives by the government. SA programs such as accelerators, incubators, and pre-accelerators play a pivotal role in nurturing promising startups through funding, mentoring, networking and other resources. They provide tailored programs spanning varying durations to startups from ideation to scale-up stage.
Singapore Startup Accelerator Market is estimated to be valued at US$ 5.11 billion in 2024 and is expected to exhibit a CAGR of 17% over the forecast period 2024-2031.
Key players operating in the Singapore Startup Accelerator Market are 500 Startups, JFDI.Asia, Entrepreneur First (EF), Antler, Golden Gate Ventures and others.
Key Takeaways
Key players: 500 Startups and JFDI.Asia are leading Singapore startup accelerators providing funding between US$15K to US$150K and mentorship to selected startups. EF has accelerated over 200 startups across 10 cities.
Growing demand: Increasing number of entrepreneurs and tech startups have augmented the demand for mentorship, funding and other resources from accelerators. Over 4000 startups were supported by accelerators in Singapore as of 2023.
Technological advancements: Accelerators are embracing new technologies like blockchain, AI and data analytics to enhance their selection processes, training programs and value-add offerings to startups through personalized tools and platforms.
Market Trends
Customized sector-focused programs: Accelerators are launching unique accelerator tracks and curated programs focused on emerging tech sectors like FinTech, AgriTech, EdTech etc to tap specialized startups and stay ahead of competition.
Global collaborations: Accelerators are partnering with international peers to offer local and global market access opportunities to startups through consortium programs, overseas fellowships and immersive trips. This is a key attraction for global-bound startups in Singapore.
Market Opportunities
Government funding: The Singapore government continues to allocate substantial funding and incentives through initiatives like Startup SG Equity, SEEDS Capital and Startup SG Founders to promote local accelerators and startups.
Mentor networks expansion: Leveraging experienced entrepreneurs, investors and industry experts as mentors/coaches presents a significant opportunity for accelerators to elevate their value proposition.
Impact Of COVID-19 On Singapore Startup Accelerator (SA) Market Growth
The onset of COVID-19 crisis has negatively impacted the Singapore Startup Accelerator Market in the initial months of 2020. There was a decline in funding activities as well as reduced interactions between startups and mentors/investors. However, remote works and virtual meetings became the new normal helping startups to stay connected with their mentors and potential investors. Also, several new programs and initiatives were launched by accelerators to support the startup ecosystem and help them adapt to new normal. Majority of accelerators switched to remote mode and focused on supporting startups in pivoting their business models, restructuring budgets and navigating challenging market conditions.
Going forward, the continued spread of the virus and associated lockdowns can further slowdown funding and collaboration in the near term. However, post COVID period may witness strong growth opportunities for innovating startups addressing challenges introduced by the pandemic. Accelerators are expected to play a vital role in identifying healthcare, edtech and remote collaboration focused startups. They may see increased applications from new ventures with ideas to help mitigate risks associated with future crises. Additional government support through facilities, funding and relaxed regulations can boost the confidence of startups and accelerate recovery of Singapore's accelerator market.
Geographical Regions With High Concentration Of Singapore Startup Accelerator (SA) Market
In terms of value, Singapore Startup Accelerator Market is highly concentrated in Singapore itself due to presence of majority of accelerators and startups. Being home to around 1000 startups and over 75 accelerators, Singapore leads the SE Asian region in terms of innovations and investments. Presence of established startup ecosystems as well as strong government support through initiatives like StartupSG and partnerships with corporates make Singapore a magnet for new ventures. Valuation of accelerators based out of Singapore contributes over 70% of the total market value.
Fastest Growing Region For Singapore Startup Accelerator (SA) Market
Indonesia has emerged as the fastest growing geographical region for Singapore Startup Accelerator Market over the forecast period. This is backed by factors like growing youth population, rising middle class, increasing smartphone & internet penetration and government initiatives to promote digitalization. Additionally, Indonesian startups are tackling critical domestic issues like financial inclusion, healthcare access, transportation & logistics efficiency presenting huge market opportunities. Several Singapore based accelerators are partnering with Indonesian government agencies to identify high potential startups and provide funding, mentorship and market access to help them scale internationally.
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About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
What Are The Key Data Covered In This Singapore Startup Accelerator (SA) Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Singapore Startup Accelerator (SA)'s growth between 2024 and 2031.
:- Accurate calculation of the size of the Singapore Startup Accelerator (SA) and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Singapore Startup Accelerator (SA) Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Singapore Startup Accelerator (SA) vendors
FAQ’s
Q.1 What are the main factors influencing the Singapore Startup Accelerator (SA)?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Singapore Startup Accelerator (SA) companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Singapore Startup Accelerator (SA)’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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