There is a level of acceptance and optimum amongst both institutional and individual investors based in Singapore that digital health and technological innovations are the way to go. In fact, the country can further leverage its Healthtech landscape and exceed expectations. Well, this is only possible if it puts as much focus on it as it does for the Fintech sector from the Monetary Authority of Singapore (MAS).
But have you ever wondered what the future holds for Singapore’s Healthtech landscape? Well, there is nothing to worry about since good things lie ahead. And this is only possible if we employ the correct measures to curb the challenges that are currently facing the Healthtech sector in Singapore.
If you take the time to do your homework, you will notice that there is too much emphasis on the large enterprise to be an innovation drive and insufficient focus on the startups. Even though you might not see anything wrong with that, this leads to an imbalance in the sector. No wonder the government should strive to find a good balance between large organizations and startups as to how they address the market. The same approach applies when it comes to how they invest in the market, and how they support the market.
The good news is the Healthtech Singapore sector is still capable of attracting more investors. And this can be attributed to its commercialization speed and the ability for reference to launch in other markets. In fact, the changes to be made should cater to the different operation and emerging business models in the healthcare industry and facilitate access and innovation.
But we have a reason to smile since the Healthtech entrepreneurial landscape in Singapore has improved significantly in the past five to ten years. This is in accordance with the entry of angel investors and venture capital into the space. Furthermore, Singapore corporate have been supporting, venturing, incubators, and accelerators.
The Bottom Line
It is quite evident that good things lie ahead for the Healthtech entrepreneurial landscape in Singapore. Even though Healthtech industry is not yet to meet its full potential, it is only a matter of time before this comes to pass. The strong collaborations in research and development between private and public sectors will certainly continue fuelling many ideas and new companies. Well, that is precisely what the Healthtech Singapore sector needs to thrive.