Singapore’s deep-tech startups tap China for scale, set sights on the US for higher margins
The challenge now lies in navigating the complex geopolitical landscape and staying true to their value proposition
[SUZHOU/SHENZHEN] Singapore’s deep-tech startups are tapping China’s robust robotics and renewable energy ecosystems to scale their businesses, while setting their sights on the US to capture higher profit margins.
“We chose China… the most competitive market you can find in the world. And if we survive (there), we will survive anywhere,” said Tong Chin Fong, co-founder and CEO of Singapore startup Xnergy, which develops wireless charging infrastructure for robots.
To navigate the competition, Singapore companies need to identify their value proposition and determine whether it aligns with available business opportunities, said Kow Juan Tiang, Enterprise Singapore’s executive director for China.
