Singapore Comes Out on Top As The Best Ecosystem for Start-Ups in Asia-Pacific
Singapore has always been renowned as a thriving business hub in Asia. But now it has strengthened its reputation even further by coming out on top as the best place in the Asia-Pacific for start-up companies.
It has even overtaken China to claim that ranking. Singapore has also pulled itself up to the 7th spot out of the 100 countries in the world. Last year, Singapore was in the number 10 spot.
Despite its small size, Singapore’s advantage lies in its global perspective. A strong rule of law and EntrePass visa programmes have all had a contributing role to play that made Singapore into the best ecosystem it is today.
A Strong and “Overperforming” Industry
Singapore is setting a strong example for other countries where innovation is concerned. For what is a relatively small country, it has a strong ability to “overperform” and outshine many other neighbouring nations.
Its reputation as a powerful Asian business hub has made a regional impact. Combined with its favourable business environment, tax legislation, and ease of doing business, Singapore has cemented itself as a massive ecosystem. This is where start-ups should be if they want to launch a successful business.
The likes of Grab, Asia’s most popular food delivery and ride hailing company, are a testament to Singapore’s successful business environment. Singapore is now home to a growing number of start-up companies, thanks to the availability of business loans and financial aid. Enterprise Singapore (ESG) and Startup SG are just some of the many examples of this.
The Involvement of Universities
Universities in Singapore are also starting to get into the start-up scene, boosting the start-up ecosystem culture even further. With well-connected programs and training programs for the research and development workforce, entrepreneurship is now being encouraged on campus.
The EntrePass Visa
Singapore offers the EntrePass visa for eligible entrepreneurs who are keen to start something new in Singapore. This visa is a way of encouraging entrepreneurs to pursue their dreams, especially if they possess innovative qualities.
The public sector in Singapore is very supportive of the start-up culture. Attracting a multitude of talents from around the world on a global scale is something the Republic has been focusing on over the last few years. This is how it has managed to maintain its competitive global advantage.