Faisal Maliki Baskoro
October 30, 2026 | 4:54 pm
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Indian biotech startup Miraqules wins the grand prize at Singapore’s SLINGSHOT 2026, held from Oct. 27 to 29, for its patented StopBleed biomaterial designed to control bleeding within 60 seconds. (Handout/EnterpriseSG)
Singapore. An Indian biotech startup has won Singapore’s SLINGSHOT 2026, an international deep tech competition that attracted more than 5,000 applicants from around the world and awarded a record S$2.2 million in prizes.
Miraqules took the grand prize for its patented StopBleed biomaterial, which is designed to stop bleeding within 60 seconds in situations where conventional compression or surgical intervention may be difficult, delayed, or unavailable.
The company also won the Health and Biomedical category at the competition, which marked its 10th anniversary this year as part of the Singapore Week of Innovation and Technology (SWITCH).
Miraqules said its technology, developed by biomaterial researchers and doctors, offers an alternative approach to managing uncontrolled bleeding. StopBleed has received approval in India and is already being used in more than 25 hospitals.
South Korea’s AIM Intelligence was named first runner-up for its artificial intelligence security platform, which identifies vulnerabilities in AI models and autonomous systems while providing safeguards against unsafe actions.
Xen Quantum took second runner-up for its silicon photonics-based quantum key distribution technology, designed to protect communications against emerging threats from quantum computing.
The competition awarded prizes across 10 categories, covering advanced computing and intelligence, advanced manufacturing and industrial systems, digital technologies and security, environment, energy and sustainability, and health and biomedical innovation.
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Other category winners included Japan-linked quantum computing startup Yaqumo, semiconductor technology companies Nabu Optical Systems and Newmorphic, textile traceability company Fibarcode, agritech startup DNA Harvest Partners, battery safety technology developer Elven Technologies, and Swedish heart monitoring company Acorai.
Organized by Enterprise Singapore (EnterpriseSG), SLINGSHOT has seen applications increase more than fivefold since its inaugural edition in 2017, when about 1,000 startups participated. This year’s competition attracted more than 5,000 applicants from around 150 markets over the past decade.
“For the past decade, SLINGSHOT has been the key platform connecting innovators from around the world with investors, corporates, and partners in Singapore’s innovation ecosystem that can help turn strong technologies into viable businesses,” EnterpriseSG Assistant Managing Director for Innovation Emily Liew said in a statement.
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“Building on this strong foundation, we will continue to strengthen pathways for more startups to move from research to commercially viable solutions and scale globally from Singapore.”
A record S$2.2 million in prizes was awarded at this year’s grand finals. For the first time, the grand winner also received the National Graduate Research Innovation Programme Labs Runway Award, providing 12 months of complimentary laboratory space and access to equipment, mentors, workshops, and networking opportunities.
The top three startups will also receive intellectual property development support, including an eight-week IP strategy program, a two-week intangibles disclosure program, and post-competition consultation through IPOS International.
SLINGSHOT aims to connect international startups with investors, corporations, and business partners in Singapore, helping them commercialize technologies and expand into global markets.
Past participants have gone on to secure funding, establish partnerships, and enter new markets.
Lucence, a 2017 finalist, has raised more than $80 million and secured US Medicare coverage for its next-generation sequencing liquid biopsy cancer tests. The Singapore-based precision health company has also partnered with a leading US clinical laboratory to expand access to its services.
Matwerkz Technologies, the 2024 grand winner, has launched a water-based, halogen-free thermal insulation coating and established its first in-house manufacturing line in Johor Bahru, Malaysia, this month. The facility, developed with a partner, has an annual production capacity of 30,000 tonnes of its patented flame-retardant materials.
Meanwhile, Spain-based biotech startup Loop Diagnostics, the first runner-up in 2025, has established its regional headquarters in Singapore. It is also engaging distributors across Southeast Asia and has begun a preclinical trial in Japan.
