Singapore startups specialising in “deep technology” need investors that are less risk-averse and more willing to stick their bets on young companies that take longer to generate returns. One government-funded firm is aiming to plug the gap by focusing on early-stage startups in this space and helping them in areas such as fundraising, strategy, branding, and talent management.
Comprising technologies that emerge from scientific discoveries or engineering innovation, deep tech products typically are developed on research-based intellectual property (IP) and difficult to replicate. They encompass technologies such as artificial intelligence (AI), robotics, medtech (medical tech), blockchain, and quantum computing.
However, while investing in deep tech might yield large returns, the payout could take several years and risks were higher, according to Alan Goh, co-founder and CEO of Singapore-based NDR Medical Technology, which develops AI-powered robotics systems to assist surgeons.