Grace Shao
Singapore is once again attracting talent and capital from the wider Asian region, especially from China, as artificial intelligence companies race to develop the next super app. The Lion City has in the last few years been a top destination for big tech firms to set up their Asia-Pacific headquarters as geopolitical tension heats up between the United States and China, and domestic regulations intensifies in China. Singapore is now a major hub for ByteDance, Google, Netflix, Shein, and others.
The Singapore Infocomm Media Development Authority (IMDA) announced a GenAI Sandbox program in February to support small and medium enterprises (SMEs) across industries in adopting AI and offering a grant to be part of a three-month trial run program.
Tribe, a “startup ecosystem builder,” and Digital Industry Singapore, a joint office between the Economic Development Board, Enterprise Singapore, and the IMDA, also recently announced a collaboration with U.S. tech giant Nvidia in establishing an AI-focused accelerator program, showcasing multiple arms of the government bolstering the enhancement of the AI ecosystem in Singapore.
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