The head of business development for Asia’s online technology media company, Techlist, revealed that the number of venture capital deals has stagnated in Singapore, during an annual Singapore conference yesterday.
Jason Lin was one of the over 20 featured speakers who comprises of CEOs and E-commence experts from all over the world. He said that Singapore may still be the top country for technology startups in South East Asia, but other SEA countries are catching up fast.
According to Techlist data, Indonesia and Malaysia see venture capital deals doubled up within just a quarter. The number of venture capital deals in Singapore has instead stagnated at 39. The number of E-commence startups in Indonesia is nearly twice that of Singapore.
With the rapid increase in infrastructural investments in the SEA region, more people will have internet access to form a bigger E-commence market. Other SEA markets are expected to surpass Singapore’s market which is perceived as concentrated considering how tech savvy the average Singaporean is.
Do you think it is only a matter of time Singapore loses it edge to its neighbours in South East Asia?