Singapore-based companies have secured a commanding presence on the inaugural NextGen Tech 30 list of Asean's top tech start-ups, accounting for 21 of the 30 spots. The list, compiled by tech venture capital firm Granite Asia in collaboration with government and private organizations, recognizes innovative businesses operating in sectors like digital finance, logistics automation, and clean energy.
SINGAPORE – Singapore -based companies have made a strong showing in an inaugural list of Asean ’s 30 top tech start-ups, accounting for 21 of them. The NextGen Tech 30 list, released on Sept 24 by tech venture-capital firm Granite Asia, includes patent database Patsnap, fintech firms ShopBack and Aspire, and cyber-security firm Ensign Infosecurity.
They also had to meet specific criteria, including generating a minimum revenue of US$20 million or achieving a year-on-year growth rate of 30 per cent or more; being headquartered in Asean or having a strong presence in the region; and having a clear environmental, social and governance strategy. The NextGen Tech 30 list comes amid intensified efforts to revitalise the SGX, which has lagged behind its regional rivals in terms of new listings and liquidity.
The group will also suggest targeted measures to facilitate product offerings and improve liquidity in Singapore’s equity market, broadening the pool of potential IPOs.When asked about the timing of the NextGen Tech 30 list and what the bourse aims to achieve with the collaboration, SGX chief financial officer Ng Yao Loong said the exchange plans to collaborate with like-minded partners to foster a tech entrepreneurship and innovation ecosystem in South-east Asia.
“At SGX, we like to partner with like-minded people to try to nurture these growth companies... Of course, we have a little self-vested interest, in hoping that some of you would list on the SGX.”
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