But according to a new study from LinkedIn, these 15 startups have overcome these challenges in Singapore.
“Fintech startups feature prominently on the Singapore list, with more than half of the companies in the top 15, followed by healthcare and education technology companies,” Adrian Tay, senior editor in Asia told LinkedIn News.
“This reflects the current needs of Singaporean consumers, who are keen on managing their finances and managing their wealth, want more convenient healthcare services, and need services to cater to the aging population, as well as investing in their children’s future with quality educational tools and resources.”
While these are tough times, some argue that innovative ideas are born during times of uncertainty, LinkedIn said.
“Working with limited resources and limited capital can prompt young companies to prioritize assets and values and adapt quickly,” the social network said.
In compiling the list, LinkedIn relied on internal data collected between July 1, 2021 and June 30, 2022, measuring startups based on four aspects. Employment growth, engagement and career interest, and attracting top talent.
To be eligible, companies must be based in Singapore, have 50 or more employees, and be seven years or younger at the time of counting.
The professional networking site said the ratings serve as a resource for employees who are “excited about the opportunity to innovate” and develop their skills.
“This year’s roster includes eight freshmen, which is indicative of Singapore’s strong innovation ecosystem,” added Tay.
Here is the complete list of the best startups in Singapore for 2022.
15th. Geniebook e-learning services
14. Karoo – Car market
13. xenium – selling by pieces
12. Safe – Financial Services
11. advanced intelligence group – Financial Services
10. LingoAce e-learning services
9. Spinmo – Financial Services
8. DeFi cake – Financial Services
7. ADDX – Financial Services
6. homage, allegiance, or respect Elderly health care services
Industry: Financial Services
Number of full-time employees: 120
Most Popular Skills: Digital Literacy, Business Administration, Digital Marketing
New to the list is Pace FoundationBuy Now, Pay Later is a payment platform that allows consumers to make purchases and pay later or in three monthly payments. Pace has several hundred points of sale across the region and among its brand partners appleA Japanese clothing retailer Uniqlo and travel booking site Trip.com.
Industry: Financial Services
Number of full-time employees: 140
Most popular skills: development tools, web development, digital literacy
digital wealth advisor endowment It aims to help people in Singapore reach retirement goals and increase financial literacy. The fintech company provides investment advice to individual and institutional investors through its so-called “robot advisor,” according to LinkedIn. Clients can invest with cash or money from their retirement savings plan, known as a central provident fund.
Industry: Food and Beverage Services
Number of full-time employees: 130
Most Popular Skills: Digital Literacy, Business Administration, Data Science
Flash coffee Another new entry to the list – it’s a chain of tech-enabled cafes serving a cup of coffee reasonable prices. Its app allows customers to order and pay for coffee remotely, then pick up their orders at outlets – or have it delivered.
Industry: health care
Number of full-time employees: 560
Most Popular Skills: Digital Literacy, Project Management, Data Science
Doctor anywhere It is a telehealth service provider that aims to make healthcare more accessible. The mobile application allows patients to quickly consult a doctor, wherever they are. To date, it has served more than 2.5 million users across Asia, according to LinkedIn.