HSBC Bets Big on Singapore’s High-Growth Startups
Singapore steps deeper into its role as a global innovation hub – and HSBC is positioning itself at the centre of the shift.
HSBC group chief executive Georges Elhedery said in a recent feature in «The Straits Times» that the future of economic expansion will be powered by innovation, technology, and artificial intelligence, and that banks must take on a more active role in financing early-stage and scaling companies.
His stance comes as Singapore’s startup ecosystem gains global prominence and venture-backed firms accelerate their international ambitions.
Banks and the Innovation Imperative
Elhedery frames startups as essential engines of future GDP growth, noting that advanced technology represents only four per cent of US GDP yet contributes ninety-two per cent of the country’s GDP expansion.
He emphasises the need for financial institutions to support these high-growth firms despite elevated credit risks, stating that «being able to leverage and bring all our expertise to bear in this ecosystem is paramount».
Singapore’s Strategic Role in HSBC’s Global Expansion
Singapore plays a prominent role in HSBC’s Asia–Pacific ambitions. The bank is building group-level capabilities from the Republic, deploying services such as blockchain-based tokenised deposits offering 24/7 real-time settlement.
«Singapore is highly critical in HSBC’s global strategy», said Elhedery, highlighting the bank’s goal to become the leading international institution across corporate banking, institutional banking, wealth management and innovation banking.
Startups Look Overseas – and HSBC Moves With Them
More Singapore startups are scaling abroad, and HSBC reports heightened demand for financing through its global network. The bank’s new innovation banking arm in Singapore aims to fill a long-standing market gap by providing sector expertise, specialised products, and tailored financing to venture-backed firms.
HSBC has pledged US$1.5 billion in funding to high-growth companies in the Republic, with lending informed by close engagement with founders and their investors.
Founders’ Wealth
Beyond corporate banking, HSBC is also targeting founder wealth. Nearly two-thirds of its global private banking clients in Singapore are entrepreneurs. The bank offers advisory on pre-exit planning, IPO preparation, succession strategies, and curated networking through programmes like the Innovation Exchange.
A 2025 HSBC global report found Singapore to be the world’s most attractive hub for entrepreneurial wealth, with 15 percent planning to move assets to the Republic and 12 percent considering relocation.
Positioning for Long-Term Growth
For HSBC, innovation banking is both a commercial opportunity and a long-term strategic play. As Singapore cements its role as a global innovation hub, the bank aims to be the preferred partner for high-growth firms, their investors, and their founders.
Elhedery underscores this ambition clearly: «Our participation in the innovation ecosystem is critical for building the businesses of the future».
