Innovation Shift: Not Just in China and Singapore

November 23, 2020

How much innovation will $700 million buy? I think I will find out in the next six to 12 months. “COVID Hit Startups Badly – but Something Surprising Is Happening” contains an interesting factoid, if the datum is accurate. Here’s the passage I noted:

Research from MAGNiTT, a startup data platform, revealed that $704m was invested across 564 different startups across the region in 2019. “To put it into perspective, 2009 saw $15m of funding in five venture deals,” the company noted.

The article emphasizes Covid. My thought is that other factors are contributing to this old-school Silicon Valley type surge. Regardless of the reason, some of these “deals” were ones which just a few years ago would have involved lots of Philz Coffee conversations. Not now it seems.

Stephen E Arnold, November 23, 2020


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