Early-stage founders in Singapore still are unable to identify real-world business problems their startups want to solve. This can hinder their ability to attract funds, especially in a region where investors typically are more cautious about digging into their pockets.

Asked about common mistakes Singapore startups make, StartupX’s founder and CEO Durwin Ho noted that many lacked clarity about what their touted solution aimed to resolve. This problem was evident even amongst founders who were seasoned industry professionals, Ho said in an interview with ZDNet.