The recent spotlight on Singapore’s deep tech industry by Japanese media highlights a phenomenon that has quietly been unfolding over the last decade. Once primarily known as a financial hub, Singapore has diversified its economic landscape significantly, making bold strides in deep technologies—those underpinned by advanced scientific research, such as quantum computing, biotech, AI, and nanotechnology.
The nation’s deep tech ecosystem has evolved into a thriving sector, drawing global attention and investment, especially from Asia. According to a report by the Nikkei, the first batch of intelligent Internet-connected tourist buses officially started trial operation in the Sino-Singapore Tianjin Eco-City on October 1. The driverless bus was developed by Singapore start-up Muvita. Muvita, which was spun out of Singapore’s Agency for Science, Technology and Research, is the first foreign self-driving car manufacturer to be certified in China.
“The competition is fierce,” says Luo Wenjia, head of Movita. Major Chinese technology companies such as Baidu, Pony Zhixing and Wenyuan Zhixing are pushing ahead with vehicle testing in several cities. Technology-intensive businesses like Muvita are called “deep tech.” Their technology is derived from research that could have a major impact on society, in areas such as self-driving cars, semiconductors, robotics and medicine.
A Strategic Vision and Government Support
Singapore’s foray into deep tech innovation is not incidental; it is the result of strategic planning and consistent investment by the government. The Research, Innovation, and Enterprise (RIE) plans, initiated decades ago, laid the foundation for a strong innovation ecosystem. The RIE2025 plan, for instance, earmarks S$25 billion (about $18 billion USD) for deep tech research and development. This initiative focuses on advancing Singapore’s capabilities in key areas like quantum technologies, precision medicine, and sustainability.
The establishment of the Singapore Deep-Tech Alliance (SDTA) and AStartCentral (ASC) has accelerated growth in this sector. SDTA focuses on forming strategic partnerships that foster collaboration across industries, while ASC, launched by the Agency for Science, Technology, and Research (ASTAR), serves as an incubator for deep tech startups. It has already supported over 150 startups in areas like medtech, biotech, and energy.
Temasek Holdings, Singapore’s sovereign wealth fund, has also played a pivotal role. In 2023, Temasek, in partnership with the National University of Singapore (NUS) and Nanyang Technological University (NTU), launched a S$75 million pilot program aimed at scaling deep tech startups, focusing on areas like the energy transition and future computing. Temasek’s early-stage investing platform, Xora Innovation, is a key driver in this initiative, providing the patient capital necessary for deep tech ventures, which typically require longer gestation periods due to their complexity and high research intensity.
Overcoming Challenges: Talent Development and Ecosystem Building
Despite its progress, Singapore’s deep tech sector faces significant challenges, particularly in talent acquisition. The sector requires a highly specialized workforce, and a shortage of skilled professionals has been a persistent bottleneck. To address this, the government and industry stakeholders have launched initiatives like SGInnovate’s Deep Tech Talent Central (DTTC). This integrated strategy focuses on upskilling local talent and attracting international expertise. The Helix Immersion Programme (HIP), introduced in 2023, aims to provide hands-on experience in biotech startups, helping bridge the skills gap in critical areas such as molecular diagnostics and precision medicine.
Singapore’s education system also plays a key role. Universities like National University of Singapore and Nanyang Technological University have ramped up their research efforts and created new programs aimed at fostering deep tech talent. Interdisciplinary research centers are focusing on fields such as synthetic biology, advanced materials, and artificial intelligence, contributing to a steady pipeline of innovation and skilled professionals ready to take on challenges in these emerging industries.
The Investment Boom and Market Opportunities
Singapore’s deep tech ecosystem has become a magnet for investors. Between January 2020 and June 2023, the city-state attracted nearly 96% of all deep tech investment proceeds in Southeast Asia, with a significant portion flowing into health tech and biotech startups. This surge in funding has supported the development of novel solutions in fields ranging from chronic disease management to cancer diagnostics. Companies like Mirxes, Mesh Bio, and E3A are making waves with cutting-edge innovations, such as blood-based miRNA test kits for early cancer detection and AI-driven predictive analytics for chronic health conditions.
Health tech remains a particularly strong segment within Singapore’s deep tech sphere, accounting for about a quarter of all deep tech deals. The emphasis on precision medicine and advanced diagnostics aligns with global trends, catering to a growing demand for personalized healthcare solutions. Mirxes, for example, recently secured $50 million in Series D funding, and its early gastric cancer detection test has received breakthrough device designation from the U.S. FDA. Such milestones are indicative of Singapore’s ability to produce globally competitive technologies that meet rigorous regulatory standards.
Policy Frameworks and International Collaboration
Singapore’s rise in deep tech has been facilitated by favorable policy frameworks and international collaborations. The government’s proactive stance on research and innovation is complemented by a regulatory environment that encourages experimentation and fast-tracks promising technologies. Public-private partnerships are a cornerstone of Singapore’s strategy, with initiatives like A*STAR’s public innovation platforms allowing for seamless collaboration between researchers, startups, and established companies.
Internationally, Singapore has positioned itself as a gateway for deep tech investments in Asia. By building strong ties with regional and global investors, including venture capital firms and strategic corporate investors, the city-state has secured its role as a central hub for deep tech in Southeast Asia. Events like the Singapore Week of Innovation and Technology (SWITCH) showcase its dynamic ecosystem, attracting entrepreneurs, investors, and policymakers from around the world.
In conclusion, the quiet rise of Singapore’s deep tech sector is now making noise on the world stage. The strategic vision, combined with strong policy support and an interconnected ecosystem of talent, research, and investment, has transformed Singapore into a burgeoning hub for deep technology innovation. As the sector continues to evolve, the challenge will be to maintain this growth trajectory while addressing talent shortages and navigating the complexities of scaling breakthrough technologies.
This rise is no mere coincidence; it is a testament to Singapore’s ability to anticipate future trends and invest wisely in long-term, high-impact sectors, proving that its deep tech story is just beginning to unfold.
