Biotech firms say their goodbyes to Singapore

This week, On the Rise dives into the barriers in Singapore’s biotech industry. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by [registering here](. Written by Shadine Taufik Journalist Hello {NAME} When I lived in London, I tried to go vegan for a month. I wanted to see if I could change my habits for the sake of living a greener and healthier life. Surprisingly, I found it extremely easy - supermarkets stocked a wide variety of alt meats, milks, and cheeses at relatively reasonable prices. However, when I went back home to Southeast Asia, these options were rarely available, and if they were, they would be double or triple the price. So it wasn’t a shock when I found out how difficult it is for alt-meat companies to prosper in the region. In this week’s Big Story, my colleague, Nikita, explores the less-than-favorable conditions of Singapore’s emerging biotech industry. Regardless of the government’s regulatory support, Singapore-founded biotech firms such as Sophie’s Bionutrients and TurtleTree have decided to move their headquarters abroad after hitting some roadblocks for growth in the country. These problems range from a dry talent pool, limited access to energy to power their production plants, and the smaller market demand for their products. More on this in the article. -- Shadine  --------------------------------------------------------------- THE BIG STORY [Singapore could lose more biotech firms]( Singapore wants to be the Silicon Valley for alternative protein. But good regulatory frameworks alone won’t cut it for firms in the niche industry.  --------------------------------------------------------------- FYI [Blockman Go could be Garena’s next big hit after Free Fire]( The official launch of Roblox-like Blockman Go is Garena’s latest attempt to diversify and may be its bridge to the metaverse.  --------------------------------------------------------------- NEWS YOU SHOULD KNOW Check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ Hong Kong-based culinary platform DayDayCook has joined hands with venture capital firm Brinc to [invest US$10 million]( over the next three years through the Good Food Accelerator Program. This initiative will fund 45 alt-protein startups operating in China and Asia. 2️⃣ UpGrad, an India-based edtech unicorn, [has acquired Harappa Education for US$38 million](. Harappa helps professionals through a variety of educational programs, including lessons on cognitive, behavioral, and social skills. 3️⃣ Singapore-based robotics startup Botsync [has raised an undisclosed amount]( of funding in a pre-series A round. The firm, which builds industrial autonomous robots, said that this round brings its total funds raised to US$3.2 million. 4️⃣ HeHealth is an app that [can detect sexually transmitted diseases]( with a simple dick pic. The project is an offshoot from Singapore Management University and has a 90% accuracy rate for [HPV diagnosis](. 5️⃣ Eduardo Saverin’s B Capital Group has [closed US$250 million]( for Ascend Fund II, its early-stage fund. The investment firm will be supporting US and Asia-based startups operating in growing sectors such as enterprise software, digital healthcare, fintech, and logistics.  --------------------------------------------------------------- That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? You can unsubscribe from this newsletter by going to your “edit profile” page and choosing that option in our preference center. See you next week! [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  Copyright © 2022 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894