J-STORIES – Singapore became the epicenter of innovation this week as it hosted SWITCH 2024, one of Asia’s largest startup events, from Oct.28 to 30. The event attracted over 25,000 participants, including entrepreneurs, investors, and industry leaaders from around the world.
Now in its ninth year, SWITCH, short for the Singapore Week of Innovation & Technology, serves as a platform for startups to explore global expansion and foster international collaborations. While many attendees hailed from Asia — including Japan, Taiwan, South Korea, and Southeast Asia — the event also featured participants from every corner of the world with representatives from countries such as Germany, Spain, Norway, Estonia, India, Brazil, and Qatar hosting sessions and highlighting the event’s international appeal.
Singapore’s government has been instrumental in organizing SWITCH annually, aligning with its strategic goal to transition from a financial hub to a deep-tech hub. In a recent move, the government announced an additional investment of $440 million in domestic deep-tech startups through venture capital, bringing the total investment since 2017 to nearly $1 billion.
Asia’s stock exchanges vie for future unicorns
The event also attracted stakeholders from various sectors, including government officials, investors, and representatives from leading stock exchanges across Asia with bourse representatives from Singapore, Japan, and Taiwan presenting their distinctive market listing advantages.
Earlier this year, the Tokyo Stock Exchange launched its “Asia Startup Hub” initiative, which aims to support promising Asian startups—including those from Taiwan, Singapore, South Korea, and Vietnam—in listing on the Tokyo market.
Meanwhile, the Taiwan Stock Exchange promoted Taiwan as a startup-friendly market through side events, focusing on its unique advantages to IPO-seeking entrepreneurs. Officials emphasized lower costs, faster timelines for listing in Taiwan, and easier access to further capital post-IPO, appealing to founders interested in rapid, cost-effective public offerings.
Japanese cities make a distinct mark
Backed by Japan’s trade organization JETRO, Japanese cities left a unique imprint at SWITCH.
A standout was Fukuoka City, which clinched the “best booth design” award for its “yatai”-themed booth, where staff in traditional yukata attire welcomed visitors. Fukuoka’s showcase was part of a broader effort to brand the city as a tech hotspot, following the success of its recent “Ramen Tech” event.
Other Japanese cities, including Tokyo, Osaka, Kobe, Kyoto, and Sendai, were also well-represented, with booths and side events. Hokkaido University hosted a “Snow Tech” session, adding a touch of seasonal flair and underscoring its commitment to building a startup ecosystem in Sapporo.
Tokyo startups achieve top 10 status at SWITCH 2024
Two Tokyo-based startups were among the top 10 companies selected from over 5,500 competitors at SWITCH.
Menou, specializing in no-code AI for visual inspection in manufacturing, and Sonire Therapeutics, offering ultrasound-based cancer treatment, both earned places in this prestigious ranking.
Throughout the three-day event, attendees engaged in panel discussions covering topics from venture financing to quantum technology, all conducted in English to accommodate the global audience.
Writing by Toshi Maeda
Editing by Lucas Maltzman
Top photo by J-Stories (Toshi Maeda)
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