I doubt any local indusrty could succeed without gov't backing. For example you need financing, contacts, etc . I doubt "lesser mortals" have access to this
So the only question is how many elites have their finger in the pie
If you have dealt with the government before as I had, you should be aware that any new initiatives to kick start a fledgeling industry that they wish to see flourish in Singapore will have funds set aside to aid local companies who wants to get involve. Any entrepreneur before he invests in a government-back project wants to ensure that it is worth investing. The government's role is to help and assist such companies in whatever way they can to encourage them in order their objectives were met.
I will not want to go into details but if you really wish to know,just go to NEA's website where they tell you which projects will get funds (seed money) but they will require you to set up a proposal on how to achieve their targets. One example I give, the government wants to reduce the amount of garbage collected every year. If you have an idea how to go about it, then make a proposal and you will get the fundings payable over a period of time.
Or, HDB is keen to install LED lights in HDB flats and etc and etc. The funds you receive in most cases will have to be repaid. The initial investment made by the government has to be recovered.