Singapore-based companies dominate the inaugural NextGen Tech 30 list, accounting for 21 of the 30 top ASEAN tech start-ups.
Released by Granite Asia, the list highlights companies like fintech firm ShopBack, cybersecurity company Ensign Infosecurity, and patent database Patsnap. The remaining start-ups are from regions including China, Vietnam, and the U.S., focusing on sectors like digital finance and clean energy.
Granite Asia, in collaboration with partners such as Temasek-backed 65 Equity Partners, DBS Bank, and the Singapore Exchange (SGX), compiled the list based on criteria like revenue of at least US$20 million or a 30% year-on-year growth rate. The initiative aims to strengthen Southeast Asia's tech ecosystem, fostering innovation and entrepreneurship.
SGX sees this as a strategic move to attract listings, revitalizing its market, which has lagged behind competitors like Hong Kong and Indonesia in IPO activity. Many start-ups are considering future listings on SGX, potentially boosting the exchange's tech sector.
Article from The Business Times. Read more here.
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