Challenging economic conditions raise the bar for nascent biotech startups as funding dries up
The pullback in science and tech funding in the US has cooled investor sentiment for now, but observers say more money may eventually flow into Asia and Europe
Add BT as a preferred source
[SINGAPORE] As investors turn more cautious amid the uncertain economic climate, early-stage biomedical startups in Singapore may face higher hurdles in their quest for more funding, industry watchers told The Business Times.
“We have found that fewer companies or fewer investors are willing to invest early, given the high risk of macroeconomic factors,” said Tong Hsien-Hui, executive director for investments at SGInnovate, a government-backed deep-tech ecosystem builder.
“So they tend to invest later – in other words, de-risk as much of the science as possible,” he noted, adding that investors are stepping up on “due diligence”.
TRENDING NOW
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
