Singapore steps up support for start-ups to help turn breakthroughs into business

Singapore is enhancing support for start-ups to transform breakthrough technologies into viable businesses, according to Minister for Energy, Trade and Industry Tan See Leng. The challenge lies in proving technology efficacy, securing initial customers and establishing industry partnerships to ensure commercial success, particularly for climate and energy innovations that demand significant funding and rigorous testing.

At a recent innovation and technology event, Tan emphasized that startups require researchers, investors, and industry partners to navigate this journey. Singapore aims not only to develop technologies but also to commercialize them globally. The government outlined three key areas of focus: technology development and validation, connecting startups with corporate customers, and facilitating international market access.

An example is CRecTech, a Singapore-based company converting biogas into bio-methanol for shipping, which has partnered with an Indonesian entity to develop the first biogas-to-biomethanol plant in Sumatra. Another example is the Breakthrough Energy Fellows programme, launched this year outside the U.S., funding 12 startups from Singapore, Malaysia, and Thailand with up to US$500,000 in funding, technical support, and access to industry networks.

New corporate partners include Olam Agri, Pertamina NRE, and ExpresSo NB. Tan also announced a binding agreement between Aether Fuels and Singapore Airlines Group for sustainable aviation fuel. Furthermore, Enterprise Singapore launched the Lenovo-Enterprise Singapore Global Accelerator Programme to help startups validate technologies in real-world settings and progress from concept to customer pilots.

EnterpriseSG is also extending its Global Innovation Alliance with a partnership at UC Berkeley to provide Singapore start-ups with access to resources and mentorship for international expansion.