Singapore offers $500K to boost in-house AI

Includes funding for 70% of consultancy and cloud usage costs, capped at S$105,000

Author

Anand Srinivasan
June 16, 2025

Top stories today:

  • Singaporean AI Cloud Takeoff initiative to offer S$500,000 to local firms to build AI capabilities

  • Singapore leads in high-value AI investment

  • Crypto exodus from Singapore

Singaporean AI Cloud Takeoff initiative to offer S$500,000 to local firms to build AI capabilities

  • Google Cloud and Digital Industry Singapore (DISG) have launched this initiative

  • Participating companies will receive a blueprint for transformation, technical support and financial incentives worth up to S$500,000

  • Funding for 70% of consultancy and cloud usage costs, capped at S$105,000 

Singapore leads in high-value AI investment

  • AI driven innovation categories: 

    • Product development: 34%

    • generative AI for content creation: 33%

    • Cybersecurity: 32%

    • Customer experience: 31%

  • 37% of businesses prioritise AI in Singapore

Crypto exodus from Singapore

  • Bitget and Bybit preparing to shift operations out of Singapore

  • Relocating to crypto-friendly jurisdictions such as Dubai and Hong Kong

  • This is after May 30 MAS directive requiring crypto firms with Singapore-based operations serving overseas clients to cease such activities by June 30

Chart of the day

Source: OpenPR

Upcoming and Ongoing events

  • June 15-17

  • 600 global delegates

  • June 18-19

  • 50+ speakers and 500+ attendees

  • June 17-20

  • Asia's #1 Customer Experience leaders platform

  • June 21

  • 250+ delegates, 15+ investors