Comment: 7 pages, 4 figures, 2 tablesThe internet's rapid growth stimulates the emergence of start-up companies based on information technology and telecommunication (ICT) in Indonesia and Singapore. As the number of start-ups and its investor growth, the network of its relationship become larger and complex, but on the other side feel small. Everyone in the ICT start-up investment network can be reached in short steps, led to a phenomenon called small-world phenomenon, a principle that we are all connected by a short chain of relationships. We investigate the pattern of the relationship between a start-up with its investor and the small world characteristics using network analysis methodology. The research is conducted by creating the ICT start-up investment network model of each country and calculate its small-world network properties to see the characteristic of the networks. Then we compare and analyze the result of each network model. The result of this research is to give knowledge about the current condition of ICT start-up investment in Indonesia and Singapore. The research is beneficial for business intelligence purposes to support decision-making related to ICT start-up investment.