SINGAPORE, April 4 (Xinhua) -- The total startup investment in Singapore reached 6.1 billion U.S. dollars across 522 deals in 2023, making it the top startup investment destination in Southeast Asia, according to the latest report issued by government agency Enterprise Singapore.

The share of early-stage funding accounted for 94 percent of the deal volume and nearly half of the total deal value last year, up from 90 percent and 44 percent in 2022, respectively, according to the report issued on Wednesday.

Meanwhile, global early-stage funding for startups dropped 40 percent year-on-year in 2023. The contrast indicated that startups in Singapore can better weather the funding winter compared to their counterparts, the report noted.

The funding results conveyed investors' confidence in Singapore as the destination for funding and startup development in the region, said Cindy Ngiam, director for startup ecosystem of Enterprise Singapore. Enditem

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