As the deadline for achieving net zero approaches, investors and entrepreneurs in Singapore are intensifying their focus on innovations addressing environmental challenges, as evidenced by the increase in green tech investments in 2023 — a trend expected to persist into 2024.
“The sustainability sector likely saw the most number of startups being created in 2023. It was also the sector that had fewer challenges fundraising as it was aligned with several major global trends,” Hsien-Hui Tong, executive director for investment at SGInnovate, told the Singapore Business Review.
“In the coming year, we expect to see continued interest in the sustainability space,” Tong added.
The heightened emphasis on sustainability is reflected in this year's Hottest Startups list, which prominently features a slew of enterprises dedicated to addressing ecological concerns. Leading the charge in the annual list are Muuse, Incy Tech, Infinity Cube, and Prefer, each contributing innovative solutions to environmental issues.
EnterpriseSG reported that green tech deals have “consequently more than doubled since 2022.” In September 2023, volumes of green tech investments rose to 20 and had a total value of $268.5m (US$201m).
“We see traction for green tech enterprises with hardware capabilities in renewable energy, waste management, and battery services attracting investments,” EnterpriseSG in its “Singapore Venture Funding Landscape 2023: A Nine-Month Study” report.
Denne historien er fra Issue 107-utgaven av Singapore Business Review.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra Issue 107-utgaven av Singapore Business Review.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Smile API Eases Loan Process
Financial institutions and lenders rely on credit worthiness to grant loans, but assessing it can be challenging with only employment and payroll information. Smile API addresses this challenge by transforming employment data into credit data.
Industry Concerns Rise As Accountant Numbers Decline
Accounting firms and universities strive to boost the sector's appeal with new roles and education programmes.
New Rule Curbs Biases Against Flexi Work
Employers who oppose remote work solely because it deviates from traditional office norms can no longer deny this option to employees and may face consequences for doing so.
Trials Target Better Management Of Treatment-Resistant Depression
Managing treatment-resistant depression (TRD) can take months to years, but Singapore is accelerating the process by embarking on trials of personalised transcranial magnetic stimulation (TMS) specifically tailored for Asian brains.
Singapore's tech powerhouses triumph at SBR Technology Excellence Awards 2024
In today's digital age, technological innovation is not just a competitive advantage; it is a key driver of progress. Companies that embrace digital disruption and leverage the power of technology are unlocking a world of opportunity, transforming industries, and shaping a more connected future.
InterContinental unveils rain refund package for guests
Guests receive a refund for a 1-night room rate if it rains for more than 2 hours during their stay.
New law weaves in work protections and retirement benefits into gig workers' safety net
Platform workers will be able to make CPF contributions into their ordinary and special accounts.
Surbana Jurong's new HQ integrates green spaces and smart technology
The headquarters features biophilic elements that enhance natural light and air circulation.
ION Orchard dives into gamification amidst experiential retail demand
The mall's in-app augmented reality game offers more than 30 rewards.
Why Singaporeans are okay with locking away over $4b of their money
Customers can only access locked’ money with a physical card or by visiting a branch.
