Private funding in Southeast Asia (SEA) has declined to its lowest level in six years, with the deceleration in late-stage deal activity being the most pronounced. A substantial 87 per cent of investors reported encountering increased hurdles in fundraising, while 88 per cent expressed that they are dealing with a more complex landscape when it comes to exiting investments.

Despite the slowdown in venture activity, SEA continues to be a promising region as the digital economy remains a major growth driver. The region recently achieved a significant milestone, crossing the US$100 billion mark in revenue from all digital economy sectors this year – marking an eightfold growth over the past eight years.

Singapore remains the bright spot for the region’s venture activity. In the first quarter of this year, technology startups in Singapore managed to secure the most funding in SEA, totalling US$516 million, despite the region witnessing its lowest quarterly deal value over the past year.

To help Singaporean startups tap into this promising landscape, TiE Global is hosting the TiE Global Summit (TGS) 2023 in Singapore.

As a vibrant ecosystem of global investors, entrepreneurs and enterprise innovators, TiE has enabled over 25,000 startups via mentoring, networking, education, incubation and funding. Furthermore, the organisation has created US$1 trillion in wealth and generated employment for 2.5 million people directly.

As the world’s largest entrepreneur forum, TGS will bring together visionaries, industry leaders, investors, and entrepreneurs from around the world to connect with Singaporean startups and put a spotlight on groundbreaking areas of innovation.

TGS 2023 will be held in Singapore in conjunction with the Singapore Fintech Festival for the first time ever. It will feature topics such as AI, Web3, and the digital economy and will provide opportunities for startups to network, gain valuable insights, access funding, and foster collaborations, as well as facilitate the exchange of ideas between the world’s largest entrepreneurship event and the world’s most impactful fintech festival.

Also Read: The future of startup fundraising in Singapore

TGS 2023’s theme, #GoodForTheWorld, represents the spirit of entrepreneurship, which, at its core, underscores the pivotal role of entrepreneurship in driving innovative solutions in a world facing unprecedented challenges. Entrepreneurship generates economic growth, creates jobs, and drives technological advancements that serve as a catalyst for social and economic development, ultimately fostering progress for communities and nations alike.

Besides networking opportunities and thought leadership sessions from industry titans, other key programmes at the event include:

TiE Women Global Pitch Competition: Finals of TiE’s largest-running global investment support program for women-led ventures from 62 countries will culminate at TGS 2023. This year, more than 1,600 applications were received for the TiE Women Global Pitch Competition. To date, 13 women-led startups have received equity-free grants worth more than US$350,000. The programme has also accelerated over 350 women-led startups and provided over 600 women entrepreneurs with chapter-level monitoring.
TiE-KPMG SEA Entrepreneur of the Year Awards: The Awards are a recognition of entrepreneurs by entrepreneurs who are the top business leaders in SEA and will be presented at the prestigious Gala Dinner of TGS. The awards finalists and winners will have a unique opportunity to network with and be recognised in front of leading entrepreneurs, business leaders and government officials from across the world.

Why Singapore

Global and regional innovation hub: Singapore is known as the ‘Silicon Valley of Asia’ and a global leader in digital and AI readiness. The country is currently home to approximately 4,800 tech startups and 252 incubators, 529 investors, and 700 family offices and has consistently ranked among the top 10 countries in the Global Innovation Index.
Opportunities in the deep tech enterprise space: Tech startups in Singapore remain the most promising in the region. Technology continues to be one of the key drivers of innovation in the country, with tech spending in Singapore likely to jump 4.6 per cent in 2023 to SG$22.17 (16.29) billion.
Strong government support for sustainable development: The country has been working towards green outcomes amidst its digitalisation efforts. The Singapore Green Plan 2030, or the Green Plan, is a whole-of-nation movement to advance Singapore’s national agenda on sustainable development. One key initiative spearheaded by Govtech involves the integration of independent data centres and the transition of government systems to cloud-based platforms. By 2023, approximately 70 per cent of the government’s eligible workload will be shifted to the cloud, resulting in substantial reductions in the digital carbon footprint of the Singapore government.

How to join

TGS 2023 will be held from 15 to 17 November. Register here.

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