Singapore holds a unique place in the tech and finance world. It’s the only country in Asia with a comfortable AAA rating by S&P, making it a focal point for tech companies hoping to make it big in the region.
Singapore’s resilient economy is one of the reasons why tech companies based there thrive. While other countries in the region struggled in the past three years, the city-state has continued to grow, with the Ministry of Trade and Industry expecting the economy to grow “0.5 to 2.5 per cent” in 2023, with growth likely to come in at around the mid-point of the range.
Little wonder that it’s home to a huge number of startups, many of which have grown massively in the past decade.
This leaves us, at TechFinitive, with a challenge on our hands; how, out of the hundreds of companies that we could select, do we shortlist just six?
We can’t possibly be comprehensive, so instead our aim here is to illustrate Singapore’s diverse tech scene.
From developing smart hiring practices to launching roadworthy autonomous buses, enjoy our pick of the best tech companies in Singapore. Starting off with two that focus on HR…
With Singapore unemployment rates nearing record lows, it’s telling that one goal that X0PA AI strives for is “Making the Art of Hiring a Science!”. And it can back up this claim with numbers, citing an 87% reduction in time of hiring and a 50% reduction of cost on its website.
By automating processes such as talent sourcing, and smoothing the onboarding process, it’s little wonder that X0PA boasts some high-profile partners, including the largest telecoms company in Switzerland, Swisscom.
While many would be rightly worried to put such sensitive processes in the hands of AI, X0PA reassures prospective owners of the platform with an “Explainable and ethical AI built over millions of profiles to remove bias”. It promises to account for diversity, equity and inclusion in its support for “masked hiring” to further distance the hiring process from falling to unconscious biases.
According to X0PA, it isn’t HR departments alone who should rejoice. It also promises to enhance a company’s brand thanks to the all-around experience for candidates, not to mention an opportunity for companies to “nurture and engage with potential hires”.
The objectivity of AI is a challenge in any field, let alone HR. If it continues to grow its own reputation, as well as the companies who use its services, then X0PA will be a company worth keeping an eye on as the field of AI advances in the coming years.
Swingvy offers numerous products designed with one overarching theme: simplicity. Whether that’s in its streamlined HR hub or its cloud-based payroll software, Swingvy wants to make the world of people management far easier to handle than currently.
As a company, Swingvy’s emphasis is on helping out some of the smaller companies in the Singapore business scene, catering primarily to businesses with between two and 100 employees. Such businesses may still be stuck on spreadsheet-based processes; Swingvy promises a 100% online platform that’s easy to use and understand.
Swingvy offers several distinct subcategories within its service. The HR Hub syncs employee information, whether that’s holidays, time-tracking, claims management or payroll. All this fits neatly inside the Swingvy app, which packs this variety of systems neatly into a pleasingly simple UI.
Between its competitive pricing and clean software, Swingvy is well-tuned to the needs of the small businesses it targets.
“Skip Fibre, Go Laser!” So says Transcelestial, a ground-breaking comms company established in 2016. It’s a bold statement when fibre optic technology is still today seen by most as the modern innovation to speed up our ever-more interconnected world. However, Transcelestial believes the real answer is its wireless laser communication kit, CENTAURI.
The thing is, fibre optics are undeniably fast at communicating data, but they’re not so fast when it comes to deployment. Transcelestial, on the other hand, cites deployment speeds of four to 12 hours compared to fibre’s one to five working days.
How fast is it, you ask? CENTAURI currently delivers at 10Gbps and there’s an even faster 25Gbps model on the way.
The main parties set to benefit from this hardware are ISPs, mobile networks, ports and university campuses, but Transcelestial’s effects should still be felt by the layman should their technology be adopted by more companies. This can be seen in the recent example of a Malaysian telecom company using Transcelestial technology to connect a remote island in the space of a work day.
For the CENTAURI to be able to bring a whole island successful digital connectivity so quickly — and avoiding the need for undersea cables — is a great success. A success that could be the start of a telecom revolution for swathes of the world.
In the words of LifeLearn, learning defines us. And LifeLearn is keen to nurture this by providing an e-learning platform in which any individual can join and develop their understanding with other keen minds.
Despite being based in Singapore, LifeLearn builds primarily on ideas from Finnish education. One of the main things that set Finnish education apart is its focus on cooperation rather than competition, a goal taken to heart by the platform. It’s designed to allow users to help one another flourish in whichever subject they choose to study.
Of course, LifeLearn can’t do this without those willing to share their knowledge. This is where its “Sharing Economy of Skills” comes in. LifeLearn takes the stance that when any of us has a valuable skill, everyone should benefit from it. It also hopes to appeal to those willing to share their skills, who can earn money by teaching activities with high demand on the platform.
Founded in 2017, Resync’s mission is based on the creation of a sustainable, eco-friendly energy solution. It hopes to achieve this through its energy analysis and management platform, designed to make energy management easier to understand.
For businesses, Resync offers an “Intelligent Virtual Power Plant”. This provides all the necessary analytics a company needs to reduce its carbon footprint. Alongside current information, Resync also offers AI-driven predictive technology to suggest possible trends in the data it reads.
Resync also provides a smart home monitoring app to individuals, to help lower your carbon footprint in your everyday life. The app analyses your home’s carbon output, offering statistics on your behaviour compared to others. It then provides advice on how to reduce your bills.
Public transport is vital in the smooth operation of any densely populated area, and Singapore is definitely that. MooVita is keen to modernise public transport with its fully autonomous and electric MooBus — which is now running in the city.
The current MooBos caps out at 13 passengers and runs a half-hour route, shuttling students from the Ngee Ann Polytechnic campus to an underground station 30 minutes away. The driver must take over on public roads, but on campus, it’s 100% automated.
Safety remains a big concern, and one MooVita addresses on multiple levels. First by locking the top speed of the vehicle to 20km/h in autonomous mode. Second by having a “driver” present at all times, ready to take over should the need arise. It’s a successful recipe, given the fact there have been no incidents in six months in operation.
MooVita also emphasises its environmental credentials. Given the focus of its technology on big cities, it offers a path towards emission-free public transport thanks to its electric motor. MooVita itself says this is the first step towards greener and cleaner cities.
Tech companies around the world
Enjoyed learning about top tech companies in Singapore? Head somewhere different next and take a trip to Ireland. Here’s where to start:
-  MTI (Ministry of Trade and Industry) May 2023 Press Release
Nathalie Parent, Chief People Officer at Shift Technology: “HR is the conscience of an organisation”
For more than 30 years, Nathalie Parent has led global HR teams, working primarily with software companies. Today she’s Chief People Officer at Shift Technology
Amazon introduces new storage class that makes it cheaper to store rarely used files
Robot carers are real, but caregiving has bigger problems, writes Richard Trenholm in this FlashForward edition