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referrerPolicy="strict-origin-when-cross-origin" title="Global" data-testid="section-link-component" href="/international/global" target="_blank"><span class="inline-block hover:underline">Global Enterprise</span></a><h3 class="my-1 _title_d4ajx_12 text-4xl lg:text-6xl" data-testid="title_link_5887529"><a class="inherit word-break hover:underline text-gray-850" rel="noopener" title="The unicorn boom is over, and startups are getting desperate" href="/international/global/unicorn-boom-over-and-startups-are-getting-desperate" target="_blank"><span class="inline-block hover:underline">The unicorn boom is over, and startups are getting desperate</span></a></h3><div class="mt-auto"><div class="_createTime_d4ajx_101 truncate uppercase" data-testid="create-time-component"></div></div></div></div></div><div class="story border-b border-gray-175 py-3"><div data-testid="basic-card" data-cueid="5876113" class="relative flex flex-wrap items-stretch"><div class="relative flex order-1 flex-shrink-0 lg:order-2 w-1/4"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/startups-tech/startups/tech-in-asia/fraud-hit-efishery-slashes-over-1000-jobs-company-weighs-liquidation" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/428e21fec97eb959d929a7e549d0201f41960c827c57b605fc9dbb9e823dd246?w=400&h=267&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/428e21fec97eb959d929a7e549d0201f41960c827c57b605fc9dbb9e823dd246?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/428e21fec97eb959d929a7e549d0201f41960c827c57b605fc9dbb9e823dd246?q=20&w=3&h=2&f=webp" loading="lazy" alt="Workers protesting at eFishery's headquarters." class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-3/4 order-2 lg:order-1 pl-4 lg:pl-0 lg:pr-4"><a class="font-poppins text-4xs font-light uppercase leading-4 tracking-[1px] hover:underline mb-[.12rem]" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="Tech in Asia" data-testid="story-thread-link-component" href="/tech-in-asia" target="_blank"><span class="inline-block hover:underline">Tech in Asia</span></a><a class="uppercase hover:underline font-poppins font-light text-4xs tracking-[1px]" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="Startups" data-testid="section-link-component" href="/startups-tech/startups" target="_blank"><span class="inline-block hover:underline">Startups</span></a><h3 class="my-1 _title_d4ajx_12" data-testid="title_link_5876113"><a class="inherit word-break hover:underline text-gray-850" rel="noopener" title="Fraud-hit eFishery slashes over 1,000 jobs as company weighs liquidation" href="/startups-tech/startups/tech-in-asia/fraud-hit-efishery-slashes-over-1000-jobs-company-weighs-liquidation" target="_blank"><span class="inline-block hover:underline">Fraud-hit eFishery slashes over 1,000 jobs as company weighs liquidation</span></a></h3><div class="mt-auto"><div class="_createTime_d4ajx_101 truncate uppercase" data-testid="create-time-component"></div></div></div></div></div><div class="story border-b border-gray-175 py-3"><div data-testid="basic-card" data-cueid="5826269" class="relative flex flex-wrap items-stretch"><div class="relative flex order-1 flex-shrink-0 lg:order-2 w-1/4"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/startups-tech/technology/seeds-capital-sets-aside-s150-million-co-investments-deep-tech-startups" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/4053946769c2891b41d2de1d4eb4b8938f6fc2f87275aac6e8a8980a486dc82f?w=400&h=267&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/4053946769c2891b41d2de1d4eb4b8938f6fc2f87275aac6e8a8980a486dc82f?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/4053946769c2891b41d2de1d4eb4b8938f6fc2f87275aac6e8a8980a486dc82f?q=20&w=3&h=2&f=webp" loading="lazy" alt="ST20240903_202446800912/pixgeneric/Brian Teo/Generic of office workers along Robinson Road on September 3, 2024. Can be used for stories on office workers, CBD, employment, jobs, finance. ST PHOTO: BRIAN TEO." class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-3/4 order-2 lg:order-1 pl-4 lg:pl-0 lg:pr-4"><a class="uppercase hover:underline font-poppins font-light text-4xs tracking-[1px]" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="Technology" data-testid="section-link-component" href="/startups-tech/technology" target="_blank"><span class="inline-block hover:underline">Technology</span></a><h3 class="my-1 _title_d4ajx_12" data-testid="title_link_5826269"><a class="inherit word-break hover:underline text-gray-850" rel="noopener" title="Seeds Capital sets aside S$150 million for co-investments into deep-tech startups" href="/startups-tech/technology/seeds-capital-sets-aside-s150-million-co-investments-deep-tech-startups" target="_blank"><span class="inline-block hover:underline">Seeds Capital sets aside S$150 million for co-investments into deep-tech startups</span></a></h3><div class="mt-auto"><div class="_createTime_d4ajx_101 truncate uppercase" data-testid="create-time-component"></div></div></div></div></div><div class="story border-b border-gray-175 py-3"><div data-testid="basic-card" data-cueid="5656434" class="relative flex flex-wrap items-stretch"><div class="relative flex order-1 flex-shrink-0 lg:order-2 w-1/4"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/startups-tech/medtech-startup-lucence-secures-expanded-us-medicare-nod-cancer-test" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/6f8b3cab2800a645cb4b85bc161b7456ffef1070f26b9740c8c46cc1d9b0241a?w=400&h=267&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/6f8b3cab2800a645cb4b85bc161b7456ffef1070f26b9740c8c46cc1d9b0241a?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/6f8b3cab2800a645cb4b85bc161b7456ffef1070f26b9740c8c46cc1d9b0241a?q=20&w=3&h=2&f=webp" loading="lazy" alt="Lucence’s founding CEO and medical director Tan Min-Han says the latest approval will support better patient outcomes." class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-3/4 order-2 lg:order-1 pl-4 lg:pl-0 lg:pr-4"><a class="uppercase hover:underline font-poppins font-light text-4xs tracking-[1px]" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="Startups & Tech" data-testid="section-link-component" href="/startups-tech" target="_blank"><span class="inline-block hover:underline">Startups & Tech</span></a><h3 class="my-1 _title_d4ajx_12" data-testid="title_link_5656434"><a class="inherit word-break hover:underline text-gray-850" rel="noopener" title="Medtech startup Lucence secures expanded US Medicare nod for cancer test" href="/startups-tech/medtech-startup-lucence-secures-expanded-us-medicare-nod-cancer-test" target="_blank"><span class="inline-block hover:underline">Medtech startup Lucence secures expanded US Medicare nod for cancer test</span></a></h3><div class="mt-auto"><div class="_createTime_d4ajx_101 truncate uppercase" data-testid="create-time-component"></div></div></div></div></div><div class="story border-b border-gray-175 py-3"><div data-testid="basic-card" data-cueid="5662916" class="relative flex flex-wrap items-stretch"><div class="relative flex order-1 flex-shrink-0 lg:order-2 w-1/4"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/international/global/drama-prone-fintechs-face-mixed-regulatory-environment-2025" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/09fc5f9a1ce9bd4429dfe2cc859b8c22ff7ba251c821d04c68c48a50cf6307af?w=400&h=267&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/09fc5f9a1ce9bd4429dfe2cc859b8c22ff7ba251c821d04c68c48a50cf6307af?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/09fc5f9a1ce9bd4429dfe2cc859b8c22ff7ba251c821d04c68c48a50cf6307af?q=20&w=3&h=2&f=webp" loading="lazy" alt="Fintechs raised nearly US$24 billion globally in the first three quarters of 2024 and represent a growing competitive threat to traditional banks and asset managers. " class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-3/4 order-2 lg:order-1 pl-4 lg:pl-0 lg:pr-4"><a class="uppercase hover:underline font-poppins font-light text-4xs tracking-[1px]" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="Global" data-testid="section-link-component" href="/international/global" target="_blank"><span class="inline-block hover:underline">Global Enterprise</span></a><h3 class="my-1 _title_d4ajx_12" data-testid="title_link_5662916"><a class="inherit word-break hover:underline text-gray-850" rel="noopener" title="Drama-prone fintechs face mixed regulatory environment in 2025" href="/international/global/drama-prone-fintechs-face-mixed-regulatory-environment-2025" target="_blank"><span class="inline-block hover:underline">Drama-prone fintechs face mixed regulatory environment in 2025</span></a></h3><div class="mt-auto"><div class="_createTime_d4ajx_101 truncate uppercase" data-testid="create-time-component"></div></div></div></div></div><div id="dfp-ad-bn1" class="ad-placeholder flex flex-col items-center justify-center border-b border-gray-175 py-3" data-testid="dfp-ad-bn1" data-ad-type="bn1" data-ad-index="0"></div><div class="story border-b border-gray-175 py-3"><div data-testid="basic-card" data-cueid="5655800" class="relative flex flex-wrap items-stretch"><div class="relative flex order-1 flex-shrink-0 lg:order-2 w-1/4"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/wealth/wealth-investing/lessons-2024-when-penny-finally-dropped-south-east-asias-startups" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/1e8340e8b922aa20cd05304cd0b22e2fc99ade9661089289463a502a2d8ee643?w=400&h=267&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/1e8340e8b922aa20cd05304cd0b22e2fc99ade9661089289463a502a2d8ee643?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/1e8340e8b922aa20cd05304cd0b22e2fc99ade9661089289463a502a2d8ee643?q=20&w=3&h=2&f=webp" loading="lazy" alt="Popmart’s meteoric rise, from under HK$20 to about HK$93 per share, underscores the power of having a blockbuster product - Labubu. " class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-3/4 order-2 lg:order-1 pl-4 lg:pl-0 lg:pr-4"><a class="uppercase hover:underline font-poppins font-light text-4xs tracking-[1px]" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="Wealth & Investing" data-testid="section-link-component" href="/wealth/wealth-investing" target="_blank"><span class="inline-block hover:underline">Wealth & Investing</span></a><div data-testid="basic-card-kicker-component" class="break-words font-poppins text-4xs font-light leading-4 text-gray-515">COMMENTARY</div><h3 class="my-1 _title_d4ajx_12" data-testid="title_link_5655800"><a class="inherit word-break hover:underline text-gray-850" rel="noopener" title="Lessons from 2024, when the penny finally dropped for South-east Asia’s startups" href="/wealth/wealth-investing/lessons-2024-when-penny-finally-dropped-south-east-asias-startups" target="_blank"><span class="inline-block hover:underline">Lessons from 2024, when the penny finally dropped for South-east Asia’s startups</span></a></h3><div class="mt-auto"><div class="_createTime_d4ajx_101 truncate uppercase" data-testid="create-time-component"></div></div></div></div></div><div class="story border-b border-gray-175 py-3"><div data-testid="basic-card" data-cueid="5641661" class="relative flex flex-wrap items-stretch"><div class="relative flex order-1 flex-shrink-0 lg:order-2 w-1/4"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/startups-tech/startups/tech-in-asia/sea-unicorn-list-singapores-tyme-group-joins-us1-billion-club" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/47a7880eb19c7b8b629c06d164162fd997698dc23a107a8cea31c0f0a96db3b8?w=400&h=267&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/47a7880eb19c7b8b629c06d164162fd997698dc23a107a8cea31c0f0a96db3b8?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/47a7880eb19c7b8b629c06d164162fd997698dc23a107a8cea31c0f0a96db3b8?q=20&w=3&h=2&f=webp" loading="lazy" alt="While a record number of 21 startups in South-east Asia broke into this elite club in 2021, only a handful have been able to reach this valuation since then." class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-3/4 order-2 lg:order-1 pl-4 lg:pl-0 lg:pr-4"><a class="font-poppins text-4xs font-light uppercase leading-4 tracking-[1px] hover:underline mb-[.12rem]" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="Tech in Asia" data-testid="story-thread-link-component" href="/tech-in-asia" target="_blank"><span class="inline-block hover:underline">Tech in Asia</span></a><a class="uppercase hover:underline font-poppins font-light text-4xs tracking-[1px]" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="Startups" data-testid="section-link-component" href="/startups-tech/startups" target="_blank"><span class="inline-block hover:underline">Startups</span></a><h3 class="my-1 _title_d4ajx_12" data-testid="title_link_5641661"><a class="inherit word-break hover:underline text-gray-850" rel="noopener" title="SEA unicorn list: Singapore’s Tyme Group joins US$1 billion club" href="/startups-tech/startups/tech-in-asia/sea-unicorn-list-singapores-tyme-group-joins-us1-billion-club" target="_blank"><span class="inline-block hover:underline">SEA unicorn list: Singapore’s Tyme Group joins US$1 billion club</span></a></h3><div class="mt-auto"><div class="_createTime_d4ajx_101 truncate uppercase" data-testid="create-time-component"></div></div></div></div></div><div class="story border-b border-gray-175 py-3"><div data-testid="basic-card" data-cueid="5624712" class="relative flex flex-wrap items-stretch"><div class="relative flex order-1 flex-shrink-0 lg:order-2 w-1/4"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/international/asean/south-east-asia-startups-missing-out-regions-ai-fuelled-tech-boom" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/eaaae64608f228304114b572727263f5e11773cccee0c47e63e56dd05c06062c?w=400&h=267&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/eaaae64608f228304114b572727263f5e11773cccee0c47e63e56dd05c06062c?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/eaaae64608f228304114b572727263f5e11773cccee0c47e63e56dd05c06062c?q=20&w=3&h=2&f=webp" loading="lazy" alt="South-east Asia’s potential cannot be ignored. While its AI industry is sputtering, its digital economy as a whole is growing in the double digits both by revenue and profit, according to a study." class="w-full aspect-3x2"/></picture></a></div></div></div><div class="flex flex-grow flex-col w-3/4 order-2 lg:order-1 pl-4 lg:pl-0 lg:pr-4"><a class="uppercase hover:underline font-poppins font-light text-4xs tracking-[1px]" rel="noreferrer" referrerPolicy="strict-origin-when-cross-origin" title="Asean" data-testid="section-link-component" href="/international/asean" target="_blank"><span class="inline-block hover:underline">ASEAN Business</span></a><h3 class="my-1 _title_d4ajx_12" data-testid="title_link_5624712"><a class="inherit word-break hover:underline text-gray-850" rel="noopener" title="South-east Asia startups missing out on region’s AI-fuelled tech boom" href="/international/asean/south-east-asia-startups-missing-out-regions-ai-fuelled-tech-boom" target="_blank"><span class="inline-block hover:underline">South-east Asia startups missing out on region’s AI-fuelled tech boom</span></a></h3><div class="mt-auto"><div class="_createTime_d4ajx_101 truncate uppercase" data-testid="create-time-component"></div></div></div></div></div><div class="story border-b border-gray-175 py-3"><div data-testid="basic-card" data-cueid="5601135" class="relative flex flex-wrap items-stretch"><div class="relative flex order-1 flex-shrink-0 lg:order-2 w-1/4"><div class="flex items-center justify-center bg-gray-250 w-full"><div class="w-full" style="position:relative"><a rel="noopener" href="/events-awards/emerging-enterprise/emerging-enterprise-2024/plana-embracing-thepowdershampoo-eliminating-plastic-startups-green-living-ocbc" target="_blank"><picture><source media="(min-width: 992px)" srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/7208e551b3ea7112ae601421c3dd678eca9e3db9f5142950b122c62601bb9db0?w=400&h=267&dpr=1&f=webp 1x"/><source srcSet="https://cassette.sphdigital.com.sg/image/businesstimes/7208e551b3ea7112ae601421c3dd678eca9e3db9f5142950b122c62601bb9db0?w=300&h=200&dpr=1&f=webp 1x"/><img src="https://cassette.sphdigital.com.sg/image/businesstimes/7208e551b3ea7112ae601421c3dd678eca9e3db9f5142950b122c62601bb9db0?q=20&w=3&h=2&f=webp" loading="lazy" alt="Joshua Christopher Chandra (centre) with his Plana co-founders; and Jlynn Chen, founder of The Powder Shampoo. 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