Singapore is home to a thriving startup ecosystem. Despite being a small country with a population of only around 6 million people, it is considered one of the most successful economies in the world.
Naturally, to keep up with the number of emerging startups, there has also been a surge in the number of Singapore startup accelerators and incubators. If you don’t know what they are, we have written about them in detail on our blog.
With that being said, if you are starting out as an entrepreneur, we have carefully curated this list of top Singapore startup accelerators that can help you every step of the way.
Funding is one of the main setbacks that relatively new businesses have, and these accelerators provide funding right from the starting stage (seed funding) to the stage of a well-established business (series A). We have covered accelerators that fund in different domains, so make sure to pick and choose the best one for your business needs.
ICE71 Startup Accelerator in Singapore
Innovation Cyber Security Ecosystem at Block71 (ICE71) is the region’s first niche-focused Singapore startup accelerator, in the sense that it is for cybersecurity entrepreneurs.
It is a partnership between the Singtel Group and the National University of Singapore (NUS) through their venture capital and entrepreneurial wings and has a fund size of 250 million USD.
With the rapid digitalization in the world and the increasing need for cybersecurity, ICE71 is helping startups mitigate the ever-increasing online risks. The range of programs that ICE71 offers help early cybersecurity businesses right from the idea development stage to acceleration and scaling-up later down the line.
Since the partners have global reach and esteemed reputations, startups make use of their local resources to gain a global footprint. In addition to funding and market access, ICE71 also helps the businesses with mentors, collaborative opportunities with fellow entrepreneurs, investor landing, and potential customers and partners among others.
They also provide full office facilities with premium-grade technology and equipment, making it the perfect choice for cybersecurity startups.
ImpacTech Startup Accelerator in Singapore
ImpacTech was founded in 2015, and as the name suggests, it supports and nurtures startups that create social, environmental and economic impact. With operations in Singapore (headquarters), Japan, Thailand and activities in Israel, ImpacTech is a global accelerator.
They provide custom-tailored acceleration programs to early businesses, unlike the other startup accelerators who have generalized services common for all. Some of their services include workshops, mentorships, consulting services, and hackathons apart from funding, and have worked with over 1000 innovators.
People at ImpacTech believe that real innovation is about solving problems and not having ideas.
This goes on to show that they are a highly practical Singapore startup accelerator founded by successful entrepreneurs. Known for helping startups scale up to their desired stage, ImpacTech is an amazing option to go for, as they value large scale positive impact too.
F10 Startup Accelerator in Singapore
The banking industry is slowly moving over to Fintech and it only makes sense to have a Singapore startup accelerator that nurtures this particular field in the list. F10 is a global accelerator with offices in Zurich, Madrid, Barcelona, and headquarters in Singapore that accelerates startups in the banking and fintech industries.
Partnered with the founding sponsor SIX, a venture capital firm and a Swiss and Spanish stock exchange operator, F10 helps startups with funding among other services.
People at F10 believe that active collaboration between startups, incumbents and investors can lead to rapid innovation. This would also mean that everybody learns something out of it, be it skills, experience, or insights, sort of like a win-win.
With immense potential for the banking industry to thrive in the upcoming years, startups in the same field can highly benefit from F10.
Plug And Play Startup Accelerator in Singapore
Another famous global startup accelerator is Plug and Play. With a massive network of over 30,000 startups, 500+ global corporations, and hundreds of venture capital firms across 18+ industries, Plug and Play are highly successful in what they do.
A whopping 9 billion USD has been raised by portfolio companies so far, which is no joke. They offer mentorships, introductions to leading venture capital firms, workshops, global recognition, market access, and keep early businesses at the forefront of industry trends.
Unlike other accelerators that expect a share of equity in the businesses, Plug and Play do not require equity which makes them stand out among the rest. With an in-house VC team and investments ranging between $25k-$100k, they are stage agnostic (companies from seed to series C and beyond).
Other added benefits including access to international markets, offices in the hub of technology – Silicon Valley, daily networking events, and world-class mentors, make them a great choice for all businesses.
The FinLab Startup Accelerator in Singapore
FinLab is a Singapore startup accelerator powered by the United Overseas Bank (UBO) and SGInnovate with a focus on fintech startups to develop market solutions. By expanding their scope to nurture small- and medium-sized enterprises (SMEs), they became a stage agnostic accelerator.
With a presence in 3 countries – Singapore, Malaysia, and Thailand – the FinLab helps early businesses to scale up by connecting them to industry experts and mentors, seed funding, providing business tools, and increasing their business efficiency to enable long-term success.
The FinLab is a Singapore startup accelerator that helps businesses on their digitalisation journeys, and since the banking industry is the fastest moving industry with respect to this, it seems like a fintech accelerator. Startups with a digitalisation idea would benefit the most out of an accelerator like FinLab.
Final Words
So that was the carefully curated list of Singapore startup accelerators in various growing fields. If your business idea falls under any one category, you can choose one from the list to benefit a lot from the one you choose.
Singapore is a country with immense economic and business growth, being far ahead of most countries in these aspects. If you ever wish to expand your business to India, we are an esteemed startup accelerator here. Happy business growth!
