Majority of SG’s emerging tech startups are IHL, venture studio spinoffs

Advanced manufacturing tops the list with 56% spinoff startups.

More than half of Singapore’s early-stage emerging tech startups founded between 2020 and 2024 originated as spinoffs from Institutes of Higher Learning (IHLs) or venture studios, according to the SGInnovate Singapore Early-Stage Emerging Tech Startups 2024 landscape report.

Advanced manufacturing led with 56% of startups spun out of these sources, followed by health and biomedical sciences and sustainability at 53% each.

Agrifood was the exception, with only 39% of startups taking this route.

The report said the higher share in advanced manufacturing and health and biomedical sciences reflects the maturity of these R&D-driven ecosystems, backed by strong institutional pipelines and translational research capabilities.

By contrast, Agrifood startups—particularly in plant-based foods and AgriTech—are more often founded by industry professionals than spun out of research, as these sectors are less R&D-intensive.

The report also highlighted the growing role of industry accelerators and incubators such as MedTech Actuator, HATCH, Big Idea Ventures, Singapore Space & Technology Ltd, NAMIC, and The Yield Lab in supporting early-stage ventures.

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