Singapore is becoming a prime destination for Chinese AI startups aiming for global reach. Historically attractive to Chinese companies due to its ethnic Chinese majority, the city-state is now seeing a surge in AI entrepreneurs moving in, driven by US trade sanctions that limit access to the latest technologies in China. Setting up in Singapore allows these companies to distance themselves from their Chinese roots, a tactic often referred to as “Singapore-washing.
” This helps reduce scrutiny from customers and regulators in countries that are politically opposed to China, such as the US, as reported by Bloomberg. Wu Cunsong and Chen Binghui, who founded the AI startup Tabcut in Hangzhou two years ago, encountered numerous obstacles, including a lack of venture capital. In March, they relocated their company to Singapore, a move undertaken by many Chinese AI companies.
The move provided them with better access to global investors and customers, especially at a time when geopolitical tensions deter many US and international firms from engaging with China. In Singapore, they can also purchase cutting-edge technology like NVIDIA Corp.’s latest chips, which are restricted in China due to US export controls.
“We wanted to be in a place where capital is abundant rather than diminishing,” Wu said. However, relocating doesn’t guarantee success. For instance, ByteDance, the Beijing-based company behind TikTok, moved its TikTok headquarters to Singapore but still faced US l.
