The second quarter of 2026 marks a defining moment for digital assets, as regulatory milestones and macroeconomic shifts converge to reshape the crypto landscape. As someone who has navigated this industry for over fifteen years and advised governments on blockchain policy, I see these upcoming events not as isolated developments but as interconnected forces that will determine whether crypto matures into a legitimate pillar of global finance or remains trapped in regulatory limbo.

The period between late March and early July presents five catalysts that demand close attention, each carrying the potential to unlock capital, clarify rules, or alter the monetary conditions that underpin risk asset performance. Understanding how these events interact requires looking beyond headlines to the structural changes they introduce for investors, builders, and policymakers alike.

The CLARITY Act (April 3, 2026)

Industry leaders anticipate President Trump could sign the CLARITY Act by April 3, 2026, a move that would finally delineate regulatory responsibilities between the SEC and CFTC. This legislation matters because legal ambiguity has long stifled innovation in the world’s largest capital market.

When projects face uncertain enforcement actions rather than clear compliance pathways, talent and capital migrate elsewhere. The passage would reduce legal risks for US-based crypto initiatives and signal to traditional finance that digital assets operate under a predictable framework.

I have long argued that regulation should enable rather than constrain technological progress, and this bill represents a step toward that balance. Reduced uncertainty often precedes capital deployment, so we could see accelerated institutional participation once the rules of engagement become transparent. Projects that previously hesitated to launch in the United States may now proceed, knowing which agency oversees their token structure and what disclosures they must provide.

SEC Crypto ETF Decisions (March 27, 2026)

Just one week earlier, on March 27, 2026, the SEC must issue final decisions on 91 pending crypto ETF applications spanning 24 tokens. Analysts expect verdicts to arrive sooner, given the perceived friendlier regulatory stance, but the deadline itself creates a hard boundary for market expectations.

Approval of altcoin ETFs, such as those tracking Solana or XRP, would replicate the institutional access wave that Bitcoin and Ethereum ETFs initiated. These products serve as regulated conduits for pension funds, endowments, and registered investment advisors who cannot directly hold digital assets.

Also Read: While S&P 500 struggles, crypto’s low correlation to gold and stocks attracts institutional attention

The scale of potential inflows remains substantial, and I view this as a critical test of whether US regulators will allow market demand to shape product availability. Institutional capital moves deliberately, but once allocated, it tends to remain invested, providing a stabilising influence on volatile markets. The applications represent diverse strategies and underlying assets, meaning approvals could broaden exposure beyond the largest cryptocurrencies and introduce investors to protocols with different risk and return profiles.

Tax-Advantaged Crypto ETNs (April 6, 2026)

The United Kingdom takes a different approach, allowing crypto exchange-traded notes to be held in tax-advantaged accounts starting April 6, 2026. This policy change qualifies these instruments for Individual Savings Accounts and self-invested personal pensions, granting millions of retail investors and pension funds a familiar wrapper for crypto exposure.

The significance lies in the stickiness of this capital. Retirement savings and tax-efficient accounts typically exhibit lower turnover than speculative trading capital, potentially reducing volatility over time. From my perspective, this move demonstrates how progressive regulation can expand access without compromising investor protections.

The UK framework may attract global crypto firms seeking a clear European base, especially as other jurisdictions grapple with more fragmented rules. Millions of UK residents now have a straightforward way to allocate a portion of their long-term savings to digital assets, and pension fund managers have a compliant vehicle to explore this emerging asset class within their fiduciary mandates.

Federal Reserve Leadership Transition (May 15, 2026)

Monetary policy leadership also shifts in May 2026 when Federal Reserve Chair Jerome Powell’s term ends on May 15. The nomination process that follows could usher in a more dovish approach to interest rates and balance sheet management.

History shows that easier monetary conditions boost liquidity for risk assets, and crypto has consistently correlated with periods of expanding money supply. A new chair selected by President Trump might prioritise growth-oriented policies, which would indirectly support digital asset valuations. I monitor these macro signals closely because crypto does not exist in a vacuum.

Also Read: Ethereum leads fragile crypto rebound as markets navigate holiday thin liquidity

Global liquidity conditions often outweigh project-specific developments in driving price action, making the Fed chair transition a pivotal variable for the second half of 2026. A shift toward lower rates or faster balance sheet expansion would increase the pool of capital seeking yield, and digital assets often benefit when investors search for returns beyond traditional fixed income.

MiCA Implementation Deadline (July 1, 2026)

Finally, the European Union’s Markets in Crypto Assets regulation comes into full effect on July 1, 2026, requiring all crypto firms operating in the bloc to meet comprehensive compliance standards. MiCA creates a regulatory passport that allows approved entities to serve customers across all member states, but it also raises operational costs and may force smaller projects to exit the market. This consolidation could strengthen the remaining players while enhancing consumer trust through standardised disclosures and reserve requirements.

Having studied regulatory frameworks globally, I recognise that MiCA’s rigour may initially slow innovation but ultimately lend credibility to the sector. Firms that adapt early will gain competitive advantages in the world’s largest single market, while those that resist may find their access limited. The July 1 deadline creates a clear timeline for compliance investments, and companies that treat this as a strategic priority rather than a bureaucratic hurdle will position themselves for long-term growth.

Among these catalysts, the Federal Reserve leadership transition stands out as the most immediate market-moving factor, as it directly influences global liquidity that underpins all risk assets. The interplay between these events will define crypto’s trajectory through 2026 and beyond, rewarding those who understand both its technical and macroeconomic dimensions. Investors who track regulatory deadlines alongside central bank communications will gain an edge in anticipating capital flows and positioning portfolios for the next phase of digital asset adoption.

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Southeast Asia’s AI narrative is usually told as a startup story. The reality is more steel, concrete, power contracts, and undersea cables than pitch decks.

A study titled “AI in Southeast Asia: An era of opportunity” by McKinsey and the Singapore Economic Development Board argues the region is becoming “the world’s AI arena”. The evidence it puts forward is blunt: over US$50 billion has already been poured into AI-ready data centres and cloud infrastructure by hyperscalers such as AWS, Google, and Microsoft — before you even count the second-order spending on connectivity, construction, and energy.

Also Read: Embracing AI in Southeast Asia: The strategy for avoiding cost overruns

This is the new great game in Southeast Asia: East and West stacks competing side by side, often within the same conglomerates. It is less ideology than latency.

The region is being rewired for compute

Singapore is still the anchor point. The report notes the city-state hosts more than 60 AI centres of excellence (CoEs), including those of Alibaba Cloud, IBM, NVIDIA, and Oracle. That density matters: it pulls in talent, vendors, and enterprise workloads, and it turns “AI adoption” into something companies can buy rather than build from scratch.

But the infrastructure story has shifted south. Malaysia is no longer just the “cheaper neighbour”; it is being positioned as a compute destination. The report highlights:

• AWS committing an additional US$9 billion investment in Singapore by 2028 and US$6 billion in Malaysia until 2038
• Google announcing a US$2 billion data centre and Google Cloud region in Malaysia (2024)
• Microsoft investing US$2.2 billion in cloud and AI services in Malaysia
• Alibaba Cloud opening its third data centre in Malaysia (July 2025)
• Tencent Cloud operating a data centre in Jakarta since 2021

That list is not just bragging rights. It’s a signal that enterprises in Jakarta, Bangkok, Manila, and Ho Chi Minh City can now choose between Chinese and US platforms without shipping data halfway across the planet.

Connectivity is being upgraded to match. The report flags the Southeast Asia-Japan Cable 2 (SJC2)going live in mid-2025: a 10,500-kilometre subsea cable designed to boost redundancy and low-latency links for AI and cloud traffic. The point is simple: compute without connectivity is just expensive heat.

“East meets West” is not a slogan — it’s procurement

The report describes a pragmatic regional approach: companies mix providers, sometimes within the same corporate group, to find the best fit for each workload. It cites a telling example from Indonesia: Tokopedia using Google Cloud for live video and analytics at scale, while GoTo Financial migrated Tokopedia’s core infrastructure to Alibaba Cloud data centres in Jakarta.

That kind of split is not indecision. It’s what happens when the region becomes a battlefield where providers must compete on price, services, and sovereignty—and where enterprises want leverage.

In consumer commerce, the competition is even more visible. The report points to TikTok’s re-entry into Indonesia (via a Tokopedia partnership), YouTube and Shopee rolling out YouTube Shopping in Indonesia, and Temu expanding across markets. AI infrastructure is not being built for fun; it is being built to win commerce, payments, and advertising.

The dirty secret: data centres are a risk business

For all the investment headlines, the report is unusually candid about the downside. Data centres come with volatile returns, and the volatility is structural: AI demand may not ramp at the pace the market is pricing in; hardware cycles are accelerating; and GPU prices can fall, turning today’s premium infrastructure into tomorrow’s stranded asset.

Also Read: AI is eating the world and startups are riding the infrastructure wave

Then there is the stuff nobody loves to talk about at launch events:

• Energy demand: AI compute is power-hungry, and grid constraints can become the actual bottleneck to “AI transformation”.
• Water and cooling: many modern data centres require significant cooling capacity.
• Carbon footprint and materials: the report notes rare earth dependencies and emissions pressures.

It also flags a particularly sharp figure: in Malaysia, data centres are expected to account for around 30 per cent of power demand by 2030. That is not a marginal planning issue. That is a national infrastructure question—one that can drag regulators, utilities, and hyperscalers into the same room, whether they like it or not.

Southeast Asia’s startups aren’t the main beneficiaries yet

The infrastructure wave does not automatically translate into a thriving local AI startup ecosystem. The report argues venture funding remains uneven. In 2024, of roughly US$20 billion in venture investment across the entire Asia–Pacific region, Southeast Asia’s young AI firms received as little as US$1.7 billion. The deal count gap is even starker: 122 AI funding deals in Southeast Asia versus 1,845 across APAC.

So yes, the region is becoming an AI arena. But the early winners are not necessarily local builders; they are often the platforms selling compute and the enterprises with the budgets to consume it.

The talent push is becoming part of the cloud pitch

Even hyperscalers know that infrastructure without skills is dead capital. The report quotes AWS’s Vikram Rao: “AI is the biggest opportunity since cloud computing and possibly even since the internet. . . . Our customer base has grown by five times over 2024 to 2025 alone, and with use cases across every industry.”

Rao also says: “We’ve trained over 1.8 million people in the region since 2017. We have initiatives such as AWS Skill Builder, which offers 600 free digital courses available in local languages…”

Also Read: The real risk in ASEAN’s AI race is not falling behind. It is falling apart

Training is not charity. It’s customer acquisition.

What to watch next: power, policy, and pricing wars

Southeast Asia’s AI infrastructure build-out is entering its more challenging phase. The first phase was announcements and land grabs. The next phase is operational reality: power availability, regulatory compliance, and pricing competition across providers.

If the region wants to be more than a consumption market, it will need to pair the hyperscaler build-out with mechanisms that help local firms capture value: funding, procurement access, and cross-border scale. Otherwise, Southeast Asia risks becoming what the supply chain already knows it can be: a world-class production zone—this time for compute.

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The image was created using AI.

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The AI Workflow Competition at Echelon Singapore 2026 is calling builders who can prove their skills through execution, not just ideas. This is your chance to work on real business challenges from Singapore SMEs, build production-ready AI workflow automations, and showcase your solution live at one of Southeast Asia’s premier tech conferences.

If you can design, build, and demonstrate working AI workflows that solve actual operational problems, this competition is for you. Only 150 builder spots are available.

Why this competition is different

Most developer competitions end with pitch decks and prototypes that never see production. The AI Workflow Competition operates on a different principle: execution over ideas, working solutions over concepts, live demos over slideshows.

This is not a pitch competition, idea jam, or innovation theatre. It is a qualification-driven programme focused on execution. If you can’t demonstrate a working workflow, you won’t progress.

Real SME problems, not hypotheticals

Singapore SMEs submit real operational bottlenecks that become the competition’s official challenge statements. These aren’t made-up scenarios designed to test specific technologies—they’re genuine workflow problems costing businesses time, money, and growth potential.

Challenges fall into three categories aligned with SME operational priorities:

• Save-a-Hire (Time Savings): Reduce manual labor and free up team members for higher-value work. Target metric: Hours Saved Per Week. Ideal for admin and support teams.

• Revenue Rocket (Revenue Increase): Enable new revenue streams or increase capacity to process more orders. Target metric: Additional Revenue/Orders. Ideal for sales and marketing teams.

• Cash Flow Guardian (Cost Reduction): Reduce operational costs, minimize waste, and optimize spending. Target metric: Cost Savings Per Month. Ideal for finance and ops teams.

The qualification filter: Only builders progress

Before you work on the main challenge, you must pass a technical mini-challenge proving you can execute. This isn’t a knowledge test—it’s a practical demonstration that you can design and implement working AI workflows within a defined timeframe. Only qualified participants move forward to the build phase.

Workflows are built, deployed, and demonstrated

During the 5-day build sprint (4-8 May 2026), you’ll develop working AI automations with real logic, error handling, and functional outputs. These aren’t wireframes or mockups—they’re deployed workflows that process actual inputs and produce verifiable results.

Live execution on the Echelon stage

Finalists don’t just present on 3-4 June 2026—they demonstrate their workflows running live at Suntec Singapore. You’ll show how your automation handles standard cases, edge cases, and how it self-corrects when things go wrong. The audience sees your solution in action, not just hears about it.

Also read: Is your business stuck in manual mode? It’s time to automate with AI

What builders gain

Work on real business challenges

The SME challenges represent genuine operational problems affecting revenue, efficiency, and growth. Solving these means creating automation that delivers measurable business impact—the kind of work that translates directly to professional credibility and portfolio strength.

Infrastructure credits

Selected participants receive cloud and GPU support during the build phase through competition partners. This includes access to Alibaba Cloud’s Qwen AI for production-ready LLMs, allocated cloud credits for qualified teams, and technical support from solution architects. Bitdeer provides high-performance A100/H100 GPU instances, acceleration capabilities to scale models with enterprise compute, and expert advisory on optimization.

Technical guidance

Architect-level mentorship and technical enablement throughout the build phase. Mentors provide both technical implementation support and business context guidance to help align your solution with SME operational realities.

Career acceleration

Engage directly with sponsors, enterprises, and ecosystem leaders. The competition creates direct pipelines to internships and jobs with partner organizations, while giving you access to Singapore’s tech ecosystem.

Global recognition

Showcase your work live at Echelon Singapore 2026 in front of approximately 10,000 tech professionals, investors, industry leaders, and SME decision-makers. This visibility extends beyond a competition trophy—it’s a platform that opens doors to partnerships, opportunities, and professional connections.

Portfolio credibility that matters

Documented proof that you can deliver production-ready automation against real business requirements. You won’t just list technologies—you’ll show a live workflow solving an actual problem, complete with video documentation of it running at a major industry event.

Who should join

The competition welcomes:

• AI Engineers: Builders with experience in LLMs, RAG, and agentic workflows who can implement intelligent automation that adapts to business context.
• Full-stack developers: Developers capable of building end-to-end integrations and APIs, connecting disparate systems into cohesive automated workflows.
• No-code experts: Masters of n8n, Zapier, Make, and automation tools who can rapidly build and deploy functional solutions without traditional coding.
• Student innovators:University talents ready for real-world challenges who want practical experience beyond classroom projects.

How the competition works

Call for participants (12 February – 17 April 2026)

Open application period for AI builders. Complete the builder application form and provide details about your technical background and relevant experience. Individual and team applications are accepted. You may apply individually or as a team—individual applicants may be matched with other builders if needed.

Virtual workshops (27-29 April 2026)

Hands-on sessions to prepare participants for the build phase. Technical workshops and orientation sessions conducted virtually provide practical preparation and technical enablement.

Build phase (4-8 May 2026)

A 5-day virtual sprint where builders design and develop production-ready AI workflows. You’ll work on one of the provided SME challenge statements with structured mentorship, platform credits (for selected participants), and direct SME collaboration.

Demo day ( 3-4 June 2026)

Finalist teams present their completed AI workflows live at Echelon Singapore 2026, Suntec Singapore. Demonstrations show working solutions processing real inputs, handling errors, and delivering business outcomes.

Also read: AI Pulse Exclusive: How Asia AI Association is advancing human-centred AI across the region

Key questions answered

Do I need a team to apply?

No. You may apply individually or as a team. Individual applicants may be matched with other builders if needed.

What tools can I use?

The competition is platform-agnostic. Builders may use any tools or frameworks, including LLM APIs, workflow automation tools, or custom code. The focus is on the solution’s impact and reliability, not the technology stack. However, your workflow must be deployable and maintainable by the SME partner.

Will infrastructure support be provided?

Yes. Selected participants receive partner credits to support development during the build phase, including cloud infrastructure, GPU compute, and technical guidance.

Do I need to be based in Singapore?

No. The competition focuses on Singapore SME challenges, but builders may participate remotely. Finalists will be required to present during the live finals at Echelon Singapore 2026, with presentation arrangements to be confirmed.

What is the time commitment?

Selected builders must attend the virtual workshops (27-29 April), commit to the 5-day build sprint (4-8 May), and participate in the live demo if shortlisted as a finalist (3-4 June).

Is it free to apply?

Yes. There is no application or participation fee.

What do finalists receive?

Finalists demo live at Echelon Singapore 2026 and receive certificates, partner credits, and ecosystem exposure including direct access to sponsors, SME partners, investors, and industry leaders.

Who will judge, and what are the criteria?

Judging focuses on practicality (can this be implemented?), business impact (does it solve a real pain point with measurable ROI?), and deployability (can the SME maintain this workflow?). Judges include industry experts, SME representatives, and technology leaders.

Are the workshops virtual?

Yes. Technical workshops and orientation sessions are conducted virtually prior to the build phase.

Why now matters

AI workflow automation is moving from experimental to essential for Singapore SMEs. Businesses need practical solutions that improve efficiency, reduce operational friction, and enable growth without proportional headcount increases.

The builders who can deliver reliable, deployable solutions with clear business impact will define the next wave of enterprise automation. This competition gives you the platform to prove you’re one of those builders.

Registration closes 17 April 2026. Only 150 builder spots available.

Register as a builder and showcase your solution to the world.

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About the AI Workflow Competition

The AI Workflow Competition is an e27-led programme showcased at Echelon Singapore 2026, designed to explore how AI workflow automation can solve real operational challenges faced by small and medium enterprises (SMEs). Unlike traditional hackathons or idea-based challenges, this programme focuses on execution—bringing together SMEs, builders, mentors, and ecosystem partners to create practical, deployable automation solutions. For more information, visit echelon.e27.co/ai-workflow-competition.

 

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The Singapore Budget 2026 has placed AI at the centre of the nation’s economic transformation, signalling, according to industry leaders, a decisive shift from experimentation to execution.

From the creation of a National AI Council, chaired by Prime Minister Lawrence Wong, to the launch of sector-specific AI “missions”, the Budget outlines a coordinated push spanning governance, infrastructure, enterprise support, and workforce development. For technology executives across the region, Singapore Budget 2026 represents more than incremental policy refinement. It is an attempt to hardwire AI into the Republic’s long-term competitiveness.

At the heart of Singapore Budget 2026 is the establishment of a National AI Council to steer policy, coordinate research, and align regulation with investment promotion. The council will oversee new AI missions across advanced manufacturing, connectivity, finance and healthcare, ensuring AI development remains safe, responsible and aligned with national priorities.

Niko Walraven, Area VP – APAC at Neat, said the move confirms that “Singapore is no longer just AI-curious. It is AI-first”.

“The establishment of the National AI Council … signals a clear commitment to securing a strategic advantage in a fractured global economy,” he said, pointing also to the S$1 billion injection into Startup SG Equity as reinforcing that ambition.

For Megan Hughes, Managing Director and Vice President, JAPAC at HubSpot, central coordination is critical. She noted that aligning technological innovation, industry expertise, and public sector regulation will ensure Singapore’s AI transformation is implemented cohesively and responsibly.

Also Read: Southeast Asia’s AI boom is built on steel, not startups

Sector missions move beyond chatbots

A defining feature of Singapore Budget 2026 is its sectoral focus. The AI Missions targeting advanced manufacturing, connectivity, finance, and healthcare aim to accelerate development, testing and scaling of solutions from best-in-class factories to automated airport and seaport operations.

Haresh Khoobchandani, Vice President, APAC & Japan at Autodesk, welcomed the shift towards deeper industrial transformation.

“Design & Make industries like construction and manufacturing don’t just need general chatbots,” he said. “They need high-level coordination, strategic direction, and support that these new initiatives promise.”

The emphasis on sector missions suggests the government is targeting productivity and resilience in industries that underpin Singapore’s hub status. Rather than broad AI evangelism, Singapore Budget 2026 signals intent to embed AI where it delivers measurable economic value.

Beyond governance, tech leaders highlighted enhanced support schemes as a key enabler of adoption.

The new “Champions of AI” programme will offer tailored support for firms seeking comprehensive AI transformation, including organisational change and workforce training. Meanwhile, the Enterprise Innovation Scheme’s 400 per cent tax deduction will be expanded to cover qualifying AI expenditures, capped at S$50,000 annually for 2027 and 2028. The Productivity Solutions Grant will also be broadened to include more AI-enabled solutions.

Andrew McCarthy, GM of ANZ, Southeast Asia and India at Notion, described the measures as proof that “we’re no longer asking if AI works — we’re asking how to make it work systematically across every sector.”

However, he cautioned that technology alone is insufficient. Notion’s research shows 70 per cent of Singaporean workers find AI tools lack company context, while 72 per cent spend time editing generic outputs.

Also Read: Top 5 best ERP software for building material business in Singapore | 2026 guide

“The issue isn’t AI capability — it’s increasing busywork due to fragmented systems,” McCarthy said. “Budget 2026 provides the incentives. Now businesses must use them strategically.”

Hughes echoed this concern, arguing that AI adoption is often slowed not by lack of ambition but by weak data foundations. Citing HubSpot’s 2025 Singapore State of Business Growth Report, she said organisations with fully integrated systems are ten times more likely to outperform peers.

“A unified data foundation provides the context that AI needs to deliver outcomes that leaders can stand behind,” she said.

Infrastructure, testbeds, and human-AI collaboration

Singapore Budget 2026 also includes plans for a new AI park at one-north, developed by JTC near existing research clusters. Designed to host startups, researchers and companies, the park will support test-bedding and scaling of AI solutions.

This initiative forms part of a broader S$37 billion economic transformation package spanning connectivity, sustainability and AI. Jornt Moerland, Senior Vice President APAC at Siemens Data & AI, described the investment as a “critical inflexion point”.

“Singapore is no longer observing the AI revolution but is institutionalising it,” he said. “This commitment cements Singapore’s status as a global testbed.”

Workforce transformation is another cornerstone of the Singapore Budget 2026. The revamped SkillsFuture platform will offer clearer AI learning pathways, while Singaporeans who take selected AI courses will receive six months of free access to premium AI tools.

Khoobchandani called the complimentary access a “practical answer” to the risks posed by AI if talent development does not keep pace.

Also Read: DBS doubles down on private markets with US$110M AI IPO fund

Moerland added that empowering non-technical leaders and frontline staff with AI literacy is essential to scaling adoption. “AI is a strategic imperative, requiring broad adoption to unlock its potential,” he said.

Walraven also welcomed the closer integration of SkillsFuture and Workforce Singapore, arguing that future-ready skills in practical AI capabilities will help create a more inclusive, human-centric hybrid workplace.

Taken together, the measures in Singapore Budget 2026 signal a coordinated effort to move AI from pilot projects into everyday workflows.

For Hughes, the goal is clear: “When coordination and capability come together, AI can move beyond experimentation and into everyday workflows.”

Tech leaders broadly agree that the Budget has solved the “why”. The next phase — embedding AI into core operations with proper data context, unified systems and trained talent — will determine whether Singapore Budget 2026 delivers on its AI-first promise.

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The lead image in this article was generated by AI.

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We are currently suffering from a severe case of data paralysis. Every company, from the massive multinational corporation (MNC) to the smallest ambitious startup, is collecting data at a furious, often pointless, pace. Analysts are busy building mountains of spreadsheets and dashboards, yet most of these digital monuments are utterly inert. They sit there, accurate, detailed, and completely unmoved.

The problem isn’t the quality of the data; it’s the quality of the delivery. The human mind is hardwired for narrative, not for parsing endless rows of numbers. When data is presented in a vacuum, a bar chart here, a KPI there, it fails to cross the crucial bridge from information to action.

The most valuable skill in the modern economy is no longer the ability to collect the data, but the ability to translate those cold, hard facts into a compelling story. This combination of data, visuals, and imagination is the secret weapon for gaining a decisive edge, and it’s one that too many businesses foolishly neglect.

The fatal flaw of the facts

Data, nakedly presented, is just noise. It lacks context, consequence, and character. Why should the board fund this new project? Why should a customer switch allegiance? Simply pointing to an upward-trending line is rarely enough to compel a significant, risky decision.

A compelling story provides the context. It transforms a “20 per cent increase in user retention” into the story of Sarah, the customer whose life was made demonstrably easier by your product. It transforms a “drop in regional sales” into a cautionary tale of a specific operational failure in that territory, complete with a villain (the outdated process) and a hero (the proposed solution).

Also Read: Are social sellers missing an important piece of the data puzzle?

This isn’t just fluffy window dressing. It’s the mechanism by which complex data is stripped of its intellectual friction and allowed to penetrate the decision-making centres of the brain. When you tell a story, you leverage emotion and memory, ensuring that the data point is not just acknowledged, but retained and acted upon.

An advantage for all sizes

The mistake many make is assuming that sophisticated data storytelling is only necessary for the vast, labyrinthine structures of MNCs. They imagine a high-priced consulting firm producing slick animations for a global strategy meeting.

The truth is that this skill is more critical for a small business or startup.

• For the startup: Your entire existence is a gamble. You don’t have a decades-long track record or massive cash reserves to build trust. Your data story (how you use the numbers to visually prove product-market fit, articulate your unique traction, and forecast your blitzscaling) is the single most important tool for securing investment and validating your idea. Your pitch deck is useless if it’s just charts; it must be a visually driven narrative that makes the investor feel the urgency of the opportunity.
• For the small business: Your competitive advantage against the monolithic chains is often superior service and customer understanding. Data storytelling allows you to show your community how you serve them specifically. By visually communicating the impact of your local buying habits or the efficiency of your bespoke service, you create a powerful, localised narrative that the distant MNC cannot touch.

In a market saturated with similar products, the ability to visually articulate why your data leads to a better future is the defining competitive edge.

Also Read: The hidden barrier to AI sustainability: Why clean data matters

The necessity of the expert interrogator

This capability rarely resides naturally within a standard data science team. Data scientists are experts in accuracy and cleaning. They are not necessarily experts in persuasion and imagination.

To gain an edge, organisations must stop treating data visualisation as a final step done by a junior analyst. They must invest in experts, whether internal or external, who specialise in data narrative. These are the people who understand psychology, design, and statistics equally. They know how to take the complex output of your data team and craft a presentation that is not only accurate but also utterly unforgettable.

These experts are the interrogators who know which three numbers truly matter among the three million you collected, and who can design the visual framework that guides the viewer’s eye, ensuring they absorb the intended conclusion without effort. The money you spend on experts to create a compelling, visually integrated story will yield a higher return on investment than the money spent acquiring yet another generic data tool.

Stop settling for reports that are technically correct but practically ignored. The future belongs to those who understand that in the human sphere of influence, logic informs, but stories compel.

If your business is defined by its data, why are you trusting its most critical interpretation — the story — to chance?

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Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

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Tourism industries worldwide face the same question: can automation coexist with warmth?

As destinations rush to deploy AI, self-service systems, and digital platforms, many are discovering an unintended consequence – efficiency gains at the cost of emotional connection. Singapore is taking a different approach: using technology not to replace people, but to create capacity for more meaningful human interactions.

The global challenge

Industry research suggests that while travellers appreciate efficiency, many remain dissatisfied with impersonal digital interactions. A 2025 Booking.com study found that a majority of travellers recognise AI’s role in making journeys easier. At the same time, research by Simon–Kucher indicates growing frustration with automated recommendations that fail to understand context, emotion, or intent.

These findings echo a warning from Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, who cautioned against blindly pursuing AI interaction at the expense of human warmth when discussing shifts in China’s tourism landscape. The message is clear: automation delivers speed and scale, but on its own, it struggles to replicate empathy, nuance, and trust.

As destinations worldwide automate, the main challenge would be to deploy technology without losing warmth.

Singapore’s approach

Singapore faces this challenge head-on. With 6,700 tourism vacancies in Q2 2025 and intense competition for talent, automation has become essential for maintaining personalised service at scale.

The Singapore Tourism Board’s (STB) Tourism 2040 strategy prioritises sustainable development while addressing evolving traveller preferences. The strategy targets between US$47 billion and US$50 billion in tourism receipts by 2040 while maintaining Singapore as a destination that residents proudly advocate for. To achieve this, the tourism industry is embracing automation strategically by using it to create capacity for human connection. 

Also Read: Singapore’s AI edge depends on slack

Freeing staff for what matters

Singapore’s indoor skydiving attraction iFly has self-service ticketing kiosks with facial recognition features that automate check-ins and payment processing for photos and videos taken during flights. Data analytics track visitor demographic profiles, allowing staff to personalise interactions and tailor experiences. What once required 10-15 minutes of staff time explaining waiver forms and processes now happens digitally, freeing staff to focus on other tasks like safety briefings and creating the reassuring presence that makes the experiences memorable.

At Mandai Wildlife Reserve, the mobile app enhances guests’ visits by providing digital wayfinding where visitors are presented with multiple routes to choose from, presentation reminders, and curated park itineraries. By handling these informational needs digitally, the app eliminates routine queries, allowing staff to focus more on deeper engagement and delivering more personalised interactions with visitors. This creates spontaneous educational moments that visitors remember long after leaving the park.

Behind the scenes, Gardens by the Bay’s Smart Garden project uses a consolidated IoT dashboard for real-time monitoring of plant health and environmental conditions. Over 250 wireless sensors track parameters like temperature, humidity, and soil moisture, while 200+ smart lamps are equipped with an intelligent lighting system that sends instant malfunction alerts.

In addition, wireless tree tilt sensors on mature specimens monitor structural stability, enabling early intervention. Instead of manual inspections, the horticulture team can access precise data on dashboards and prevent operational failures that may affect visitor experiences and cause disappointment. The time saved goes towards hands-on plant care and exhibit curation, ultimately enhancing the quality of each visit.

Immersive tech that creates a connection

Singapore is also exploring how Augmented Reality (AR) and Virtual Reality (VR) can create richer contexts for meaningful interactions.  

The ArtScience Museum exemplifies this approach by using VR and AR to deepen visitor engagement with complex themes. Its VR Gallery offers immersive experiences like The Drone Shepherd by Liam Young, a VR graphic novel set in Planet City, where Earth’s entire population lives in one hyper-dense city. Built from hand-painted illustrations, the work allows visitors to viscerally experience climate collapse.

While VR immerses visitors in complete worlds, AR invites them to participate in creating one. Installations like Deep Field by Tin&Ed allow visitors to design plants that bloom into augmented reality structures while hearing soundscapes of extinct species. This connects them emotionally to environmental loss.

Also Read: How I built Singapore’s 8th fastest-growing company without investors

These immersive experiences create space for conversations and questions beyond technology itself. Museum staff can assist with technical setup and support interactive workshops, creating touchpoints that transform solitary digital experiences into shared human moments.

What’s next

Singapore’s progress shows promise, but like destinations worldwide, the work continues.

Current priorities include predictive infrastructure monitoring, immersive experiences that do not require heavy physical installations, integrated data platforms across attractions, and safer methods for maintenance work in sensitive environments, including underwater operations that protect both staff and marine life.

Each of these challenges reflects a broader opportunity: to embed warmth more deeply into tourism systems by ensuring technology works quietly and reliably in the background.

At its best, automation does not replace human connections; it enables them. Every routine task automated is a human interaction made possible. Every operational failure prevented is an experience preserved. Every immersive tool thoughtfully deployed becomes a bridge, not a barrier, between people.

As Singapore continues to open real tourism environments for pilot deployments, initiatives such as the Singapore Tourism Accelerator play a role in connecting technology providers with operators to test deployable solutions that balance efficiency with empathy. The future of tourism innovation may be built on advanced systems — but it will be felt most strongly in the human moments they protect.

Applications for the Singapore Tourism Accelerator (STA) Cohort 8 are now open, addressing several priority challenges across the tourism sector. The application window closes in February 2026.

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The modern startup ecosystem has a paradox: we have more tools than ever, yet founders feel more disconnected than ever. The problem is not a lack of solutions. The problem is too many of them.

As someone who spent two years building a startup that ultimately failed, I learned this lesson the hard way. The ecosystem is not broken because we lack resources. It is broken because those resources are scattered across dozens of platforms that do not talk to each other.

The fragmentation problem facing Founders today

Consider the typical founder journey. You need to find a co-founder, so you post on LinkedIn, join Slack communities, and browse dedicated matching platforms. You need to hire, so you use AngelList, Wellfound, and traditional job boards. You want to raise funding, so you chase investors through warm intros, Twitter DMs, and pitch events. Each need requires a different platform, a different profile, and a different approach.

This fragmentation creates three major problems for the startup ecosystem.

• Time lost to platform hopping

Founders already wear too many hats. Adding platform management to the list steals hours that could go toward building product, talking to customers, or iterating on strategy. Every new tool requires onboarding, profile creation, and ongoing maintenance. The cognitive load adds up quickly.

• Signal buried in noise

When opportunities are spread across multiple platforms, finding the right match becomes exponentially harder. Investors miss promising startups because they are not on the right platform. Talented developers never see job posts because they are in the wrong Slack group. Co-founders who would be perfect together never connect because they use different tools.

• Vanity metrics over real performance

Most startup platforms rank companies by follower counts, funding announcements, or self-reported metrics. This creates perverse incentives where marketing prowess matters more than actual business performance. Founders optimise for visibility instead of value creation.

Also Read: When nation-states shape startup outcomes

What the startup ecosystem actually needs

The solution is not another niche platform. The solution is consolidation around verified value.

Imagine a single hub where founders can post any type of opportunity, whether they are hiring, seeking co-founders, raising capital, or selling their company. Where investors can discover startups ranked by actual revenue, verified through integrations with payment providers like Stripe. Where talent can browse opportunities without creating five different accounts.

This is not a radical idea. Other industries have already made this transition. E-commerce consolidated around a few major marketplaces. Professional networking consolidated around LinkedIn. The startup ecosystem is overdue for similar consolidation.

Principles for a unified startup platform

Any platform attempting to unify the startup ecosystem should follow several key principles.

• Verified metrics over self-reported data

Credibility should be earned through demonstrated performance, not claimed through marketing. Integration with revenue providers allows startups to verify their traction. This creates trust and helps investors, talent, and partners make better decisions.

• No gatekeeping on discovery

Connection requests, paywalls on viewing profiles, and algorithmic filtering all create artificial barriers. A truly open ecosystem lets anyone browse opportunities, explore profiles, and reach out directly. The startup world has enough barriers already.

• Multi-purpose profiles

Instead of maintaining separate identities across platforms, founders should have one profile that serves multiple purposes. The same profile can attract co-founders, investors, employees, and acquirers. Context determines how the profile is discovered, not which platform it lives on.

Also Read: Why startups need mobile apps to thrive in today’s competitive market

Lessons from two years of startup failure

My perspective comes from experience, including failure. I spent two years with co-founders building a mobile game. We travelled across Europe for events and flew to Australia to expand our network. We did everything the startup playbook said to do.

What I learned is that the ecosystem rewards activity over results. Posting updates, attending events, and growing followings felt productive, but moved us no closer to product-market fit. The fragmented ecosystem made it easy to stay busy without making progress.

This failure shaped a different philosophy: build fast, test immediately, be transparent about what works and what does not. Fail for others so they do not have to make the same mistakes.

The path forward for startup infrastructure

The startup ecosystem in Southeast Asia and globally is maturing. As it matures, the infrastructure supporting it should mature as well. This means moving from fragmentation toward consolidation, from vanity metrics toward verified performance, and from gatekeeping toward open access.

Founders deserve better than jumping between ten platforms to accomplish basic tasks. Investors deserve better than sorting through unverified claims. Talent deserves better than scattered job posts across incompatible systems.

The startup ecosystem does not need another tool. It needs fewer tools that do more. The question is not whether this consolidation will happen, but when and who will lead it.

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Nasdaq-listed Society Pass (SPI), which provides a data-driven loyalty platform,  and its former CMO Thomas O’Connor emerged from a bruising, multi‑year New York trial on February 5 with a mixed verdict that recalibrates liability, equity and control over contested stock issuances.

Justice Joel M. Cohen’s decision upholds earlier valuations of pre‑IPO warrants but applies New York’s “faithless servant” doctrine to strip O’Connor of pay and future vesting beyond July 2019.

Also Read: Dennis Nguyen steps down as Society Pass CEO amidst court cases, SEC probe

At the same time, the court rescinded key contracts executed by O’Connor’s Singapore vehicle, CVO Advisors, for fraudulent inducement. Several headline counterclaims by Society Pass were dismissed for lack of provable damages.

Background and the valuation fight

The dispute traces to a September 2023 ruling that O’Connor had validly exercised a Common Stock Purchase Warrant for 1,148 shares. The valuation of those warrant shares became the case’s financial core. After a 10‑day valuation hearing in late 2024, a Special Referee placed the per‑share value at US$5,763, a figure Justice Cohen confirmed in July 2025. That valuation implied roughly US$6.62 million for the block; with court‑sanctioned penalty interest set at 9 per cent per annum, accrual has pushed the total owed to about US$11.5 million, according to O’Connor’s counsel.

The judgment landed at a precarious juncture for Society Pass. Its SEC Form 10‑Q showed only US$10.9 million in cash; the company had been dropped from the Russell 2000 and its stock had plunged from a US$77 peak to roughly US$0.40. Court filings also disclosed an SEC investigation and a separate suit from ex‑CTO Rahul Narain seeking about US$1.3 million. Society Pass appealed the earlier partial judgment; that appeal remained pending when the trial verdict issued.

Key holdings from the trial

Faithless servant doctrine eliminates pay claims: Justice Cohen found that beginning in June 2019 O’Connor effectively abandoned his CMO responsibilities, including an unauthorised five‑week trip to Japan that produced no meaningful business outcomes. More seriously, in August 2019 he met a lead prospective investor, Lester Chan of Fund Singapore (an equity & lending-based crowdfunding platform), where the court found he disparaged Society Pass CEO Dennis Nguyen, expressed doubt about the company’s viability, and pitched an alternative investment. Under New York law, an employee who becomes disloyal forfeits compensation. The court therefore dismissed O’Connor’s claims for unpaid salary and severance.

Warrant rights preserved, but truncated: The judge reaffirmed that the Common Stock Purchase Warrant was a standalone agreement not tied to employment KPIs. O’Connor had already been awarded US$6,615,934 for shares that vested before June 2019. The trial award adds US$824,109 for shares vesting in June-July 2019. Crucially, any shares vesting from August 2019 onward were forfeited because the court pegged the start of his disloyal conduct to that month. The ruling effectively preserves equity that vested before the loyalty breach and cuts off later vesting.

CVO contracts rescinded for fraudulent inducement: The court found O’Connor misrepresented CVO’s ownership status when he executed a Subscription Agreement and a Software Development Agreement in November 2018, claiming to be CVO’s sole owner despite owning zero shares until May 2019. Because those misstatements materially induced Society Pass to contract, both agreements were rescinded and CVO must return all SPI shares issued under them.

Also Read: Ex-CTO drags Society Pass into court for “breaching employment contract”, seeks over US$1.3M in damages

SPI counterclaims fail for lack of proof: Society Pass argued O’Connor’s conduct reduced Fund Singapore’s expected investment from an anticipated US$10-15 million to just US$1 million. The court rejected that causation claim, pointing instead to SPI’s failures to secure a digital wallet license and a strategic partner. Claims for breach of fiduciary duty and unjust enrichment were dismissed where the company failed to present concrete damages or financial records proving improper personal spending.

Financial and corporate fallout

The judgment leaves SPI exposed to a material monetary liability tied to the warrant valuations — US$6.62 million already recognised plus US$0.82 million now, each carrying interest. O’Connor’s legal team places the aggregate with interest at roughly US$11.5 million. That sum is significant against SPI’s limited cash reserves and battered market capitalisation.

Rescinding the CVO agreements reduces dilution by clawing back shares issued under those contracts, but it does not erase SPI’s monetary exposure for warrants that vested through July 2019. The faithless‑servant finding curtails salary and severance outflows and narrows future vesting, providing the company partial financial relief.

Operationally, Society Pass must undertake a cap‑table cleanup to unwind share issuances, update registers and manage potential secondary disputes. Collections and enforcement of the monetary awards will hinge on appeals, interest computations, and any negotiated settlement. With several of SPI’s counterclaims dismissed, the company gains narrative relief but still faces the harder task of stabilising liquidity and restoring investor confidence.

Legal and governance lessons

The case is a stark illustration of how New York courts apply the faithless‑servant doctrine to senior executives, the separability of certain equity instruments from employment terms, and the perils of inaccurate or misleading representations in cross‑border deals. For founders and boards, the ruling underscores the need for meticulous documentation of ownership, clear linkage (or separation) of warrants from employment KPIs, and close oversight of executives’ conduct with investors.

Also Read: US court orders Society Pass to pay pre-IPO shares to co-founder and ex-CMO; company under SEC probe

Conclusion

Justice Cohen’s decision is a split result: O’Connor retains significant pre‑August 2019 equity value but loses salary and future vesting for disloyal conduct, while CVO’s contracts are voided for fraud. Society Pass limits several major counterclaims and claws back shares, yet remains on the hook for warrant‑linked awards and mounting interest — leaving both parties with partial victories and substantial follow‑on risks.

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The evolution of building material distribution in Singapore (1980–2020)

Between 1980 and 2020, Singapore’s building material industry underwent a seismic shift from fragmented hardware shops to highly integrated supply chain powerhouses. In the 1980s, the sector was defined by manual ledgers and localized trade, supporting the rapid urbanization of the HDB heartlands. By the 1990s, the push for “Construction 21” necessitated better logistics management. The 2000s saw the introduction of early digitalization, as firms moved toward basic inventory databases to manage the influx of imported aggregates and steel. By 2020, the industry had become a sophisticated hub of “Just-in-Time” delivery, necessitated by land scarcity and the high-speed requirements of iconic projects like the Marina Bay Sands and the expansion of Changi Airport.

Major challenges in 2026

As we navigate 2026, the building material business in Singapore faces unprecedented hurdles that demand digital resilience:

• Agentic AI Integration: The sudden shift toward AI-driven procurement means businesses without compatible data structures are losing out on automated bidding processes.
• Labor Scarcity and Automation: With tighter foreign labor quotas, firms must automate warehouse and back-office operations to maintain output.
• Real-time Cross-border Logistics: Volatility in regional supply chains requires instantaneous tracking of shipments from neighboring ASEAN partners to avoid project delays.
• Smart Site Requirements: Construction sites now demand digital “Product Data Templates” for every material delivered, requiring suppliers to provide complex metadata alongside physical goods.

Why industry-specific ERP software is non-negotiable

For the building material sector, ERP software for building material business in Singapore is far more than a financial tool; it is the central nervous system of the operation. Unlike conventional commercial software designed for generic retail, these ERPs handle the physical realities of “heavy” trade.

Key unique features include:

• Multi-Unit Conversion: Seamlessly switching between weight (tonnes), volume (cubic meters), and quantity (pallets) for a single SKU.
• Project-Based Pricing: Managing tiered pricing for different contractors across various long-term government or private tenders.
• Fleet & Logistics Integration: Coordinating heavy vehicle schedules with delivery windows to prevent NEA fines for site congestion.
• Batch & Heat Number Tracking: Essential for structural materials like steel or cement where quality certification is legally mandated.

Unique Singaporean system requirements

Operating in Singapore requires an ERP that understands the local regulatory and geographical nuances:

• Singapore GST & InvoiceNow: Full integration with the IMDA InvoiceNow network for automated e-invoicing.
• Land Transport Authority (LTA) Compliance: Managing permits and weight limits specific to Singapore’s road regulations for heavy material transport.
• High-Speed Inventory Turnover: Due to extremely high warehouse rentals, the system must support ultra-efficient cross-docking.
• Multi-Currency Regional Sourcing: Built-in capabilities to handle fluctuating exchange rates for materials sourced from Malaysia, Indonesia, and Vietnam.

The cost of “cost saving”: Accounting packages vs. industrial ERP

Many firms attempt to save money by purchasing a general accounting package and layering on custom code. This often leads to “Digital Debt.” While the initial price tag is lower, the business impact is severe:

1. Siloed Data: Logistics and sales remain disconnected, leading to “phantom inventory” and missed delivery windows.
2. Expensive Maintenance: Every time the accounting software updates, the custom “building material” patches break, requiring expensive developer intervention.
3. Lack of Scalability: General packages cannot handle the complex contract variations common in Singapore’s construction industry, forcing staff back onto manual Excel sheets.

Also read: Why traditional SEO is dying in Singapore — and how AISEO pioneers are winning the next Blue Ocean

Top 5 best ERP software for building material business in Singapore

The current market in 2026 emphasizes AI readiness and Linux-based flexibility. Here are the leading contenders:

1. Multiable

As the top-ranked solution, Multiable offers a highly flexible architecture specifically tuned for the high-velocity trade environment of Singapore.

Pros:

• Native AI-ready data structure for agentic tool integration.
• Exceptional multi-unit of measurement (UOM) handling for complex building materials.
• Robust project-costing modules tailored for Singaporean contractors.
• Seamless integration with local Singaporean banking APIs and InvoiceNow.
• Cloud-native Linux architecture ensuring high performance and low TCO.

Cons:

• Proven successful cases with public companies & multinationals (may feel over-engineered for very small firms).
• Support service in weekend or public holiday will incur extra charge.
• Price may be out of touch for mom-and-pop business with less than 10 staff.

Why Multiable is in the list?:

• Matches the Singaporean need for rapid inventory turnover.
• Highly localized for Singapore GST and LTA delivery requirements.
• Linux-based system allows for future-proofing against AI obsolescence.

2. Oracle NetSuite

A global giant that provides a comprehensive cloud suite, though it comes with specific 2026 caveats.

Pros:

• Global visibility for companies with international sourcing offices.
• Extensive third-party marketplace for warehouse automation tools.
• Real-time financial reporting.

Cons:

• Steep increment in SaaS fee upon renewal; can be as high as 50% of first SaaS contract price.
• Service availability is a concern; there are three serious outages / malfunctions occurred in 2025.
• Lacks deep, out-of-the-box Singapore-specific construction contract localization.

Why NetSuite is in the list?:

• Strong multi-currency capabilities for regional material trading.
• Scalable for medium to large enterprises.

3. Microsoft Dynamics 365 Business Central

A popular choice for those already heavily invested in the Microsoft ecosystem.

Pros:

• Familiar user interface for Windows users.
• Deep integration with Excel and Outlook.
• Strong developer community in Singapore.

Cons:

• Resource-hungry Windows Server O/S means hardware cost incurred will be as high as 10x of those Linux-based solution.
• Performance issue of AzureSQL is a concern.
• Requires significant customization for the “heavy” material industry.

Why Microsoft D365 is in the list?:

• Ease of adoption for staff already using Office 365.
• Comprehensive partner network within Singapore for local support.

Also read: Why Singapore manufacturers must embrace MES for the future

4. SAP S/4HANA

The gold standard for large-scale industrial operations and multi-national building material suppliers.

Pros:

• Unrivaled depth in supply chain and manufacturing modules.
• World-class security and data governance.
• Advanced predictive analytics for demand forecasting.
• Strong global compliance for cross-border trade.

Cons:

• Extremely high implementation and licensing costs.
• Complex user interface requires extensive staff training.
• Requires a large internal IT team for ongoing management.

Why SAP is in the list?:

• Superior handling of complex, multi-stage logistics and structural material certifications.
• Best-in-class for public-listed companies requiring strict audit trails.

5. Chillaccount

A streamlined solution for smaller players or specialized distributors in the Singapore market.

Pros:

• Affordable entry-level pricing for smaller distributors.
• User-friendly interface requiring minimal training.
• Quick implementation timelines.

Cons:

• Limited depth in complex project management features.
• Fewer integrations compared to larger ERP players.
• May require manual workarounds for very complex UOM conversions.

Why Chillaccount is in the list?:

• Provides essential Singapore GST compliance at a lower price point.
• Suitable for niche building material suppliers with straightforward logistics.

Precautions for business owners in 2026

When selecting a system this year, owners must look beyond the features of 2025:

• Avoid Windows-Only Ecosystems: You cannot select a system which is bound to the Windows Server ecosystem. Since all popular LLMs and agentic AI tools are running on Linux, a system which cannot run on Linux may become obsolete in the near future as it will lack native “hooks” into the AI economy.
• Asian Vendor Advantage: While AIs in Asia start to catch up with those in the US, Asian ERP vendors also start to provide better ROI than household ERP names from the US or EU. These vendors often understand local trade nuances—like the specific “Kopi” culture of business or unique Singaporean regulatory filings—more intuitively than Western counterparts.
• API Openness: Ensure the vendor provides a “Headless” or robust API architecture. In 2026, your ERP must be able to talk to autonomous delivery drones and smart site sensors without manual intervention.

Why we write this article

PRbyAI aims to share updated market news using our team’s tech knowledge, helping B2B customers make informed decisions.

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DBS is stepping deeper into private markets, and it’s bringing its wealth clients along for the ride.

Singapore’s largest bank by assets has signed a three-year partnership with Granite Asia, a multi-asset investment platform, to build a pipeline of investment products and financing options aimed at high-growth Asian companies, with AI as the opening act.

Also Read: Granite Asia, Integral form US$100M JV to drive Japan-global tech expansion

The collaboration starts with money on the table: Granite Asia has closed a US$110 million AI-focused IPO fund, and DBS distributed it exclusively to its wealth clients. In plain terms, this is DBS using its private banking reach to funnel client capital into a specialist vehicle targeting a narrow slice of the market: AI-driven Asian companies heading towards public listings.

How many Asian AI firms could benefit?

The partnership points to a large addressable universe, and a narrowing funnel.

Citing Crunchbase data (as of 20 February 2026), the press release notes that over 13,000 AI-driven companies have been founded in Asia since 2015. Not all of these are IPO-bound (or even fundable), but that figure sets the backdrop: a crowded pipeline of AI startups now ageing into the “needs serious capital” phase.

The fund itself will ultimately back a much smaller subset — the companies that are both AI-driven and sufficiently mature to pursue IPOs — but the strategic pitch is that the collaboration is designed to keep producing vehicles that can tap different stages and structures of growth financing.

What DBS and Granite Asia are actually building (beyond the first fund)

The AI IPO fund is described as the first in a series. Under a memorandum of understanding formalising the partnership, Granite Asia will:

• Develop new funds exclusively for DBS clients
• Offer co-investment opportunities
• Launch a private capital product intended to provide non-dilutive capital to help tech-enabled Asian businesses transform and scale

That last item is where the deal tries to move from “another private bank product” to something more strategic. Non-dilutive capital typically refers to funding that doesn’t require founders to give up equity (often structured as credit or alternative financing). If executed well, that can matter in a region where valuation resets and tighter venture funding have made equity rounds more painful for founders.

How the partnership benefits high-growth companies

For high-growth firms, the headline isn’t just “more capital exists”; it’s that DBS is attaching its corporate and investment banking machinery to Granite Asia’s portfolio and future pipeline.

DBS says it will support Granite Asia’s funds and portfolio companies across the lifecycle, including:

• Subscription financing (often used by funds to smooth capital calls and liquidity timing)
• Corporate loans
• M&A advisory
• Support for bond issuances
• Work to prepare for an IPO

Also Read: The IPO window is open, and SEA startups are walking through

This matters because many growth-stage companies don’t just need cash; they need financing that matches their timing, plus help navigating transactions, capital markets, and cross-border expansion. A bank that can provide lending, advisory, and capital markets services can become an operating advantage, not merely a cheque.

What role AI plays in the collaboration

AI is not a side theme here; it’s the anchor product that kicks off the partnership.

Granite Asia’s first vehicle under the tie-up targets IPOs of high-growth AI-driven companies in Asia. The companies themselves aren’t named, but the intention is explicit: direct capital into IPOs and give investors “early access” to those opportunities.

The fund also drew investors beyond Singapore: the press release says it saw participation from Southeast Asia, as well as South Asia and Europe, signalling that the AI narrative and “Asia IPO access” angle is being marketed as a cross-region opportunity, not just a local product.

How private wealth clients are getting institutional-level access

The most consequential element for DBS’s private banking customers is distribution mechanics and product type:

• The US$110 million fund was distributed exclusively to DBS wealth clients, effectively a gated channel.
• Granite Asia will raise new funds exclusively for DBS clients and offer co-investments, structures commonly used by institutional allocators.
• A planned private capital product is explicitly positioned as giving clients access to an asset class “typically available to only institutional investors.”

In short: DBS is packaging private-market style access (funds, co-investments, private capital structures) into a wealth-channel offering, using Granite Asia as the sourcing and execution engine.

Granite Asia’s IPO track record, and why it’s being emphasised now

Granite Asia is heavily reliant on its ability to shepherd companies from private to public markets. The release claims that in the past six months alone, its portfolio companies recorded five listings and 10 additional IPO filings.

That’s a key selling point because the whole thesis of an “AI-focused IPO fund” depends on whether IPO exits are actually returning — and whether managers can consistently navigate listing windows when they open.

What the CEOs are saying (and what it signals)

Tan Su Shan, CEO of DBS, framed the move as a bank-wide push into funding and market access for the next wave of regional winners: “By combining DBS’ capabilities with Granite Asia’s deep founder relationships and track record in backing innovative Asian champions, we can offer differentiated investment opportunities to our clients and create new pathways for ambitious founders to expand internationally… this initiative also catalyses a vibrant funding ecosystem at a time when listings are returning to Asia’s equity markets.”

Granite Asia’s leadership pitched it as a scaling mechanism using DBS to amplify distribution and capital markets connectivity:

Also Read: AI for everyone: 25 tools to automate, create, and innovate

“This partnership unites two premier Asian institutions. Granite Asia brings a unique investment lens focused on technology and transformation, while DBS contributes unrivalled banking strength, capital markets expertise and regional networks. Together, we aim to support founders and companies as they scale across borders and mature into enduring global leaders,” added Jenny Lee, Senior Managing Partner, Granite Asia.

The bottom line

This isn’t a philanthropic push to “support innovation”. It’s a structured attempt to connect three forces:

• A large bank’s wealth distribution power
• An asset manager’s private-market sourcing and IPO pipeline
• A corporate and investment bank’s financing and capital markets toolkit

AI is the spearhead, but the real ambition is broader: build repeatable products that pull private wealth into growth financing — and in the process, give selected Asian companies more ways to raise money without waiting for the venture market to feel generous again.

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