With this in mind, Singapore's main focus is to hone existing tech startups and encourage more company incorporation into the technological sector. So, if you're interested in penetrating this industry, the first thing you need to do is familiarize yourself with the concept. A tech startup is essentially a business that aims to provide products and services to consumers using technology. However, this doesn’t entail that all companies that utilize technology fall under this category. On the contrary, only companies that either use existing technology in new ways or provide innovative technological products and services that the market has never seen before are considered tech startups.