Industry News

Singapore has climbed to the 4th position in the Global Startup Ecosystem Index 2025, up from 5th last year, according to StartupBlink. This marks a significant rise from 16th place in 2020, highlighting Singapore’s rapid growth as a leading startup hub. The city-state’s conducive business environment and strong investor presence have been pivotal in this ascent.

Enterprise Singapore (EnterpriseSG) attributes this success to the country’s ability to provide stability, resources, and market access despite global funding challenges. Assistant Managing Director Emily Liew emphasised Singapore’s openness to talent and collaboration, stating, “Enterprise Singapore will continue to strengthen the ecosystem and we welcome global startups with strong science-based solutions to leverage Singapore as a launchpad.”

EnterpriseSG supports over 4,500 tech startups with access to funding, ecosystem partners, and skilled talent. Singapore leads Southeast Asia in venture funding, securing nearly 60% of the region’s deal volume, with a total deal value exceeding $6.7 billion in 2024. The recent establishment of SG Growth Capital aims to enhance startup financing.

SLINGSHOT 2025, a global deep tech startup competition, will further energise the ecosystem by increasing grant prizes by 80% to over $2 million. The competition will culminate at the Singapore Week of Innovation and Technology (SWITCH) 2025. Past winners, like Thermalytica, have leveraged SLINGSHOT’s platform for growth and partnerships.

The call for SLINGSHOT 2025 applications is open until 11 July 2025, inviting startups to engage with Singapore’s dynamic ecosystem.
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ETC has announced the sale of a prime freehold corner shophouse located at 247 & 249 Joo Chiat Place in District 15. The property, currently home to the renowned Eng Seng Restaurant, is being offered through an Expression of Interest exercise, closing on 26 June 2025. This unique opportunity is highlighted by its permanent planning approval for “eating house” use, a rare asset in the East Coast/Joo Chiat area.

The shophouse boasts a land area of 509.3 sq m and a floor area of 273.7 sq m, with a guide price of $6.2m (S$8.5m). This translates to $1,130 (S$1,550) per sq ft on the land area and $2,100 (S$2,885) per sq ft on the floor area. The property is open to both local and foreign buyers and is exempt from Additional Buyer’s Stamp Duty and Goods & Services Tax.

Swee Shou Fern, Head of Investment Advisory at ETC, emphasised the property’s appeal: “Freehold eating houses are extremely tightly held and rarely available for sale, especially those with permanent F&B use. This is a unique opportunity for F&B operators seeking a strategic foothold, or for investors looking for an income-generating asset with long-term capital upside.”

The property’s strategic location offers excellent visibility and proximity to residential developments and amenities, including schools and hospitals. Its accessibility is further enhanced by nearby bus stops and Eunos MRT Station.

With the scarcity of such assets and the enduring appeal of District 15, this shophouse presents a compelling investment opportunity for those looking to capitalise on its commercial potential.

OHSOME, a trendy retail brand popular in Southeast Asia, has launched its first Singapore store at Suntec City Mall, offering a unique shopping experience with themed zones. The store, which opened on 20 May 2025, features a curated selection of lifestyle products, catering to modern shoppers who value creativity and convenience.

The store is divided into four distinct zones, each offering a variety of products. The Anime Collectibles Zone boasts merchandise from popular titles like “Jujutsu Kaisen” and “Attack on Titan,” appealing to anime enthusiasts. The Travel Zone simplifies packing with essentials such as ergonomic neck pillows and UV-protective sunscreens. For those seeking unique gifts, the Gifting Zone offers Disney-themed floral arrangements and quirky collectibles. Meanwhile, the DIY Zone provides materials for craft enthusiasts, including wool felting kits and journaling supplies.

An OHSOME representative stated, “Leisurely browsing and efficiently ticking off a shopping list should never feel like a compromise. OHSOME is designed to let visitors explore lifestyle products at their own pace whilst effortlessly finding what they need.”

The store also features exclusive Disney merchandise, including items from “Winnie the Pooh” and “Toy Story,” adding a nostalgic touch. Additionally, Mofusand exclusives and early-release “Lilo & Stitch” collectibles are available, creating excitement for fans.

With over 110 stores worldwide, OHSOME’s entry into Singapore marks a significant expansion. A second location is set to open at Tampines 1 on 23 May, further establishing the brand’s presence in the local market. The Suntec City store promises a vibrant retail experience, inviting visitors to explore products that inspire creativity and simplify daily life.
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SEMICON Southeast Asia 2025, the region’s premier semiconductor event, has commenced at the Sands Expo and Convention Centre in Singapore. Celebrating its 30th edition, the event returns to its inaugural location, highlighting Southeast Asia’s growing influence in the global semiconductor industry. The three-day event, themed ‘Stronger Together – Collaborating to Navigate Uncertainties and Fostering Resilience’, features innovation showcases, talent programmes, and strategic partnerships.

The event’s highlight, the CEO Summit, gathered top semiconductor leaders to discuss economic volatility, supply chain disruptions, and technological advancements. Notable speakers included Dr. Prabu Raja of Applied Materials, Tim Breen of GlobalFoundries, and David Goeckeler of Sandisk. Their insights are expected to shape the industry’s strategic direction.

SEMICON Southeast Asia 2025 anticipates over 20,000 attendees and features more than 1,400 booths from 700 exhibitors. Key initiatives include workforce development programmes like the Semiconductor Regional HR Forum and TalentCONNECT, sustainability efforts through the Global Climate Summit Workshop, and strategic networking opportunities such as the Star Buyers Programme.

Ajit Manocha, President and CEO of SEMI, emphasised the event’s role in forging global alliances amidst industry challenges. Linda Tan, President of SEMI Southeast Asia, highlighted the region’s vital role in the semiconductor industry’s transformation. The event runs until 22 May, offering a platform for innovation and collaboration.
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SuperPark Singapore, the largest indoor activity park in a shopping centre, is set to reopen on 25 May 2025 at Suntec City, boasting a significant upgrade. The revamped park now spans 25,000 square feet over two levels and features 34 activities, including 13 new installations. Operated by The DreamUs Group, the park is designed around three enhanced play zones: Freestyle Hall, Games Arena, and Adventure Area.

The park’s new offerings include eight convertible party rooms, ideal for birthdays, school trips, and team-building events. Additionally, the introduction of the Super Recharge Café provides a vibrant space for visitors to enjoy hotdogs, pizzas, and fruity slushes, turning breaks into social moments.

To celebrate its relaunch, SuperPark Singapore is offering a Limited-Time Early Birds Promotion until 24 May 2025. The first 500 tickets are available at a 20% discount using the code SUPER20, with a 10% discount on subsequent admissions using SUPER10. Party packages also receive a 10% discount with the code SUPERPARTY10.

The park’s new entrance is conveniently located at Level 1, facing Olivia & Co, making access easier for visitors. This upgrade reaffirms SuperPark Singapore’s commitment to providing fun for all ages, ensuring a dynamic and engaging experience for everyone.
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Anytime Fitness Singapore has achieved a significant milestone by opening its 125th club just three months into 2025. This rapid expansion underscores the brand’s commitment to providing 24-hour access to high-quality fitness facilities across the nation. Johannes Raadsma, President and Co-Founder of Inspire Brands Asia, the master franchisee for Anytime Fitness Asia, expressed excitement over reaching this milestone, highlighting the growing demand for accessible and flexible fitness solutions.

The expansion is part of a broader strategy to enhance the fitness journey for individuals throughout Singapore. The new clubs are strategically located in residential areas, commercial districts, and town centres, ensuring convenience for members. Among the new openings are Anytime Fitness Yishun East, Concourse, Tekka Place, Balmoral, Bukit Merah, Tengah, Clementi 354, and Kaki Bukit.

Mark De Joya, Chief Operating Officer of Inspire Brands Asia, emphasised the company’s shift towards pricing transparency, making membership costs readily available online. This initiative aims to provide prospective members with a seamless experience in exploring their options.

Luke Guanlao, Group CEO and Co-Founder of Inspire Brands Asia, reiterated the brand’s mission to create an inclusive and motivating environment. “Our mission goes beyond opening clubs—we are committed to creating an inclusive and motivating environment where everyone feels supported in their fitness journey,” he stated.

With plans to reach 200 clubs within the next decade, Anytime Fitness continues to lead the industry by offering state-of-the-art facilities, personalised training support, and a welcoming community. The brand also upgraded its Smart Coaching Ecosystem, the AF App, to enhance members’ holistic health and fitness experiences.
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Quantified Energy, a Singapore-based deep-tech company, has announced the successful completion of its Series A funding round, led by Vertex Ventures Southeast Asia & India. This investment aims to accelerate the global expansion of Quantified Energy’s drone-based solar inspection technology, which was developed as a spin-off from the Solar Energy Research Institute of Singapore at the National University of Singapore.

Founded in 2021, Quantified Energy has pioneered an autonomous drone electroluminescence mapping solution, providing inspection services for utility-scale and commercial solar systems. The company recently completed the world’s largest electroluminescence inspection, covering over one million photovoltaic modules in just three weeks. This achievement underscores the growing demand for efficient solar inspection solutions, as BloombergNEF projects 4.5 terawatts of new solar capacity by 2030.

The funding will enable Quantified Energy to roll out its second-generation drone inspection solution globally. The company plans to introduce a “pay-per-use” model for DJI M300/M350 drone operators, allowing them to perform high-throughput inspections. CEO Yan Wang stated, “With this new round of funding, we will be rolling out our second-generation drone EL inspection solution globally.”

Quantified Energy has already deployed its solutions across Asia, Europe, Oceania, and the Middle East. A recent Memorandum of Understanding with TÜV Rheinland at Intersolar Europe 2025 will further drive the adoption of their technology in European markets. Vertex Ventures Partner Puiyan Leung commented, “We are excited to work with Quantified Energy to bring their innovations to the global solar market.”

With this strategic investment, Quantified Energy is poised to enhance solar asset management and financing, contributing to the renewable energy transition worldwide.
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The rise of “kidults”—adults indulging in emotional spending and viral-trends collecting—has typically been associated with Millennials and Gen Z. However, new insights from Carousell, a leading multi-category recommerce marketplace, reveal that older collectors are emerging as key players in Singapore’s booming collectibles scene.

A recent Carousell poll found that 42% of users in the Hobbies & Toys category are aged 41 and above. Within this group, those aged 41–50 form the largest segment, accounting for nearly 30% of all collectors. This demographic is also the second-highest spending group, with 40% reporting annual expenditures exceeding S$1,000—just behind the 26–30-year-olds at 56%.

Among collectors aged 41 and above, 76% have been collecting for over five years, showcasing a strong commitment to the hobby. Interestingly, 14% of this age group started collecting within the past year, indicating a growing interest. Many Gen X collectors integrate collecting into their weekly routines, with nearly half browsing for collectibles at least once a week. Additionally, 47% actively organise and catalogue their collections, often using digital tools.

Figurines and toys are the most popular collectibles across all ages, with LEGO being particularly favoured among older collectors. This blend of modern and nostalgic preferences highlights how older collectors balance traditional interests with contemporary trends.

Carousell’s data from Q1 2025 supports these findings, showing a growing interest in collectibles that span generations. Popular searches include figurines like “Labubu” and “Mofusand”, trading cards such as Pokémon, and toys like LEGO and Jellycat plushies.

As collecting gains popularity, Gen X is not merely participating but actively shaping the scene alongside younger “kidults”. Their passion and willingness to spend add a deeper layer of generational diversity to Singapore’s collecting community.
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The Association of Banks in Singapore (ABS) has released the results of the fourth Banking Trust Index for Singapore (BTIS) survey, conducted by Edelman Data & Intelligence from 27 September to 5 November 2024. The survey revealed that whilst trust in the Singapore banking industry remains high, there has been a slight decline in the Edelman Net Trust Score (ENTS) from 70 in 2022 to 68 in 2024. This dip is attributed to increasing public expectations for banks to make a positive societal impact.

The survey, which included responses from 3,501 Singapore residents across 14 participating banks, highlighted a shift in public priorities. Whilst banks have maintained or improved their performance in 26 trust drivers, the emphasis on Purpose—banks’ societal contributions—has become more significant. Despite improvements in community involvement and environmental sustainability, Purpose remains the lowest-performing driver compared to Ability, Integrity, and Dependability.

Key drivers of trust continue to be banks’ financial strength, technological innovation, and product quality. The industry has also made strides in accountability, customer relations, and transparency. However, the report suggests that banks could further enhance trust by focusing on customer centricity and ethical conduct.

For the first time, the BTIS report included studies on financial literacy and scam management, recognising banks’ efforts in these areas as crucial for fostering trust. The ABS plans to use these findings to bolster customer protection against scams and enhance community support through initiatives like the $4m Industry Community Giveback Programme.

ABS Chairman and Group CEO of OCBC Bank, Helen Wong, expressed optimism, stating, “We are heartened by the robust trust that the public places in banks in Singapore, and with it, the rising expectations for us to do more for the common good.”
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Singapore has taken a significant step towards transforming its economy with the release of a consultative paper titled “Skills-First: Are We There Yet?” The paper, launched on 20 May 2025, calls for a coordinated, multi-stakeholder approach to foster a skills-powered economy. This initiative, led by the Institute for Adult Learning (IAL), aims to address the structural barriers hindering the adoption of skills-first practices.

The paper identifies five key barriers: signalling failures, coordination deficits, risk asymmetry, measurement gaps, and cultural resistance. These challenges have kept workforce systems entrenched in qualification-first thinking, leaving 100 million workers globally underemployed due to skills mismatches, as reported by the World Economic Forum in 2024.

Highlighting successful global interventions, the paper points to Sweden’s Job Security Councils and New Zealand’s micro-credentials system as models for addressing these inefficiencies. It also notes PwC’s skills-first workforce strategy, which improved internal mobility and reduced hiring time by 45%.

Since the SkillsFuture Movement’s inception in 2015, Singapore has made strides in updating higher learning mandates and engaging employers to drive skills-first practices. Initiatives include national jobs-skills taxonomies and digital tools to enhance skills signalling.

The paper emphasises that realising a skills-first ecosystem requires rethinking how skills are valued and applied across the system. It calls for stakeholders to engage in a national conversation, facilitated by IAL-led roundtables, to shape Singapore’s future as a skills-powered economy.
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