Is Singapore a Good Place to Launch a Startup?

Where you start your company still matters – but sticking too closely to one location might limit what you’re able to build. In today’s startup landscape, geography shapes your path – but it doesn’t have to define your potential.

Singapore has emerged as a strong hub for entrepreneurship, offering access to funding, talent, and infrastructure. But with growing competition, rigid local programmes, and support often reserved for the most polished startups, relying solely on what’s nearby can slow you down – or hold you back.

In this article, we’ll explore what Singapore gets right – and where founders often run into friction. We’ll also show how EWOR offers an alternative: a global, remote-first platform that gives you access to funding, mentorship, and community – no matter where you’re based.

1. Access to Funding in Singapore

Funding is one of the most critical ingredients in building a successful startup – and Singapore offers a growing ecosystem of support. From venture capital firms to government grants and angel investors, founders in this region have several pathways to raise capital and gain early traction.

Singapore offers a dynamic early-stage funding environment for startups, supported by a mix of private and government initiatives. Notable VC firms active in the early stages include Antler, Vertex Ventures, Jungle Ventures, and Golden Gate Ventures. The government plays a significant role through programs like Startup SG Founder, providing grants and mentorship, and Startup SG Equity, co-investing with private partners. Angel networks such as BANSEA and AngelCentral also connect founders with early capital. However, challenges persist, including increased competition and a more cautious investment climate globally, which has led to a decline in overall funding compared to peak years like 2021. While seed-stage funding saw an increase in Q3 2024, early-stage investments experienced a slight drop in the same period, indicating some unevenness in the funding landscape. Access to later-stage funding can also be a challenge compared to more mature markets.

A More Flexible Path Forward

In the wake of these challenges, founders don’t have to rely solely on local funding options. EWOR offers a more flexible path – providing up to €500,000 in early-stage capital But EWOR is more than a cheque. Our capital comes bundled with personalised support, investor-ready storytelling, and access to a network of over 400 active European investors – many of whom regularly participate in our Grand Pitch events. On average, EWOR fellows who complete the programme and pitch go on to raise €2 million in follow-on funding – over 10x more than founders from comparable European initiatives.

2. Innovation and Startup Culture  

Singapore has become a centre of innovation, with numerous tech hubs, coworking spaces, and accelerators that foster creativity and new ideas. The local startup culture is vibrant, with a growing community of entrepreneurs working together to push the boundaries of what’s possible.

Singapore has a vibrant startup and innovation culture, ranking highly in global ecosystems. Entrepreneurial activity is significant, with a notable percentage of the population engaged in it. The city-state is home to numerous coworking spaces catering to various needs, from general flexible workspaces to sector-specific hubs like fintech. There is a strong presence of tech events, conferences, and networking opportunities throughout the year, facilitating connections and knowledge sharing. The ecosystem offers support for startups at different stages. Government initiatives like Startup SG provide grants, mentorship, and access to networks for first-time and early-stage entrepreneurs. While there are competitive, standardized programs and a focus on attracting mature startups and investment, there are also resources and funding specifically aimed at helping early-stage companies develop and commercialize their ideas, including personalised support through mentor matching in some programs.

For many entrepreneurs, the energy and resources available in Singapore can provide the ideal environment to test new ideas and gain early traction. The collaborative atmosphere allows founders to connect with fellow innovators and build networks that can help their startups grow.

While the local startup culture is vibrant, the support founders actually receive can be hit or miss. VCs might offer funding but little time. Angel investors often give advice, but it’s scattered and inconsistent. What’s more, many accelerators rely on a one-size-fits-all model that doesn’t reflect the needs of exceptional founders. In fast-moving, competitive ecosystems like Singapore, standing out is hard enough – getting the right kind of support shouldn’t be.

The Alternative to Cookie-Cutter Programmes

Finding a programme that truly adapts to your journey, not the other way around, is rare. However, EWOR offers the kind of depth and flexibility that many local programmes simply can’t match. Instead of following a fixed curriculum, our fellowships are modular and tailored – giving you the right support at the right time, based on where you are in your journey.

But the real strength of EWOR goes beyond structure. Fellows often describe the community as the most unexpected – and valuable – part of the experience. As some have put it: “The real magic lies in the community: the kind of conversations, insights, and connections that lead not only to breakthroughs – but to lasting friendships with some of the most fascinating people they’ve ever met”.

3. Talent and Workforce Availability

One of the greatest assets of launching a startup in Singapore is access to a skilled and diverse talent pool. With universities producing top-tier graduates in technology, business, and other fields, startups can tap into a wealth of expertise to help grow their teams.

Singapore has a highly educated workforce, with major universities like NUS and NTU contributing significantly to the talent pool and fostering entrepreneurship through programs and incubators. The country excels in industry-specific skills, particularly in technology, finance, biotech, and advanced manufacturing. While there is a rich local talent pool, startups face competition from MNCs and a high demand for specialized tech skills, leading some to hire remotely from the region. The government actively supports entrepreneurial growth through initiatives like Startup SG, providing access to talent, funding, and networks. Local talent supports this by bringing cultural understanding and contributing to economic growth. However, attracting local talent to entrepreneurship can be challenging due to attractive opportunities in larger corporations.

Like funding, competition for talent can be fierce, especially for highly specialised roles in fields like software development or AI. For startups looking to scale quickly, hiring the right people at the right time can be a challenge, leading some founders to look outside the region for remote talent solutions.

Get Global While Local

While hiring locally in Singapore can be competitive and slow, EWOR gives you instant access to a global network of exceptional talent. Built by founders for founders, the EWOR team has launched and exited companies worth over €12 billion – and they bring that experience directly into your venture. It's not just about funding or surface-level advice; it's akin to having a co-founder from day one. 

The team collaborates closely with you to refine your idea, challenge your thinking, and support you through real-world decisions – just like a hands-on partner would. Moreover, with EWOR’s exclusive co-founder pool, you can find the right person to build with, regardless of their location.

4. Infrastructure and Support Systems

Singapore boasts a strong infrastructure that supports the growth of new businesses. From modern office spaces to high-speed internet, entrepreneurs have access to everything they need to run their startups smoothly. Government policies may also provide tax breaks, legal support, and other incentives that make starting a business more attractive in this region.

Singapore offers robust infrastructure and support for startups, fostering a thriving ecosystem. This includes world-class digital and physical infrastructure like co-working spaces and innovation labs such as JTC LaunchPad @ one-north. Support systems encompass access to a dense network of accelerators, incubators, venture capital firms, and angel investors. These resources provide crucial funding, mentorship, networking, and talent acquisition assistance, helping businesses innovate and scale. Government initiatives, primarily under the Startup SG umbrella led by Enterprise Singapore, play a significant role. Programs like Startup SG Founder offer grants and mentorship, while Startup SG Tech funds technology commercialization. Other schemes provide equity co-investment, talent attraction support, and loans. Initiatives like the Market Readiness Assistance Grant also support international expansion. This comprehensive government backing, coupled with a pro-business environment, makes Singapore a strong launchpad for startups.

But what looks good on paper often proves more complicated in practice. Bureaucracy can be time-consuming and opaque, especially for first-time founders unfamiliar with local laws. Incorporation takes longer than expected. Accessing public funding often means navigating slow processes, strict requirements, or hard-to-reach advisors. And operational costs – from accounting to regulatory compliance – can quickly eat into early budgets. 

A System That Moves With You

With access to expert guidance, practical legal resources, and a network of experienced entrepreneurs who’ve built across a range of regulatory systems, EWOR is well positioned to help founders navigate the bureaucratic and legal complexities that often come with building in Singapore. Instead of wasting time figuring things out alone, you’ll have the tools and support to stay focused on what matters most – growing your venture.

And while we’re remote-first, our support is anything but distant. Through in-person gatherings like the EWOR House, city-based meetups, and our twice-yearly Grand Pitch event, you’ll still build meaningful relationships with investors, peers, and mentors. It’s a system that helps you focus on building – not just dealing with paperwork.

Can Singapore Be Considered the Best Place to Launch a Startup?

There’s no doubt that Singapore provides a vibrant environment for startups, with access to funding, innovation, talent, and infrastructure that can help entrepreneurs build successful businesses. For many, it’s a strong contender for the best place to launch a startup, thanks to its growing entrepreneurial ecosystem and support systems.

Entrepreneurs launching startups in Singapore face significant challenges. Competition is fierce in the highly developed market, with many established players and a dense network of startups vying for market share. The high cost of living and doing business, including rent and labor, can strain limited financial resources. Navigating regulatory requirements, such as understanding complex and changing laws, obtaining licenses, and ensuring compliance with data protection and employment laws, also presents hurdles for new businesses.

However, it’s important to remember that the location of a startup is no longer the be-all and end-all. In today’s digital age, location-independent options like EWOR allow entrepreneurs to access world-class mentorship, funding, and resources from anywhere in the world. Whether you’re based in Singapore or elsewhere, EWOR’s remote programmes are designed to support founders no matter where they are located.

So, while Singapore offers significant advantages, it’s worth considering options like EWOR that enable you to launch and scale your startup with global support – whether you’re in the heart of a bustling startup hub or working from a quiet corner of the world.

Image credits: by Andreas Brücker on Unsplash