Singapore remains key destination for start-ups and investment despite Covid-19

Enterprise Singapore chairman Peter Ong is optimistic that there is spare capital which start-ups could capture. ST PHOTO: ALPHONSUS CHERN
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SINGAPORE - Singapore remains a key investment destination in South-east Asia with new sources of funding continuing to flow in for start-ups despite the challenges of Covid-19.

Enterprise Singapore (ESG) chairman Peter Ong noted that while the $5 billion of funding local start-ups received in the first nine months of 2020 was lower than the $7.5 billion recorded in the same period in 2019, the figures still paint a resilient picture.

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