With more than 600 technology startups launching their business each year, Singapore is considered as one of the top startup hubs in the world. Additionally, the city-state is also ranking high on talent. No wonder it is home to the World Cities Summit. In the margins of this summit, DSP Valley went looking for a business intermediary for its members.
by DSP Valley
Singapore has become an established reference in the field of high tech and artificial intelligence (AI). The city-state is seen as the entry gate to South-East Asia and the world-class technology hub of the region. Singapore also counts 3 unicorn startup companies (a unicorn is a privately held startup valued at over $1 billion), Grab, Garena and Lazada Group. With a population of 5.6 Mio people, that is quite impressive. The European Union with almost 100 times more people counts less than 15,. Belgium has none, The Netherlands have/had one (Adyen – IPO June 2018).
With a population of only 5.6 Mio, Singapore counts 3 unicorn startup companies.
According to Forbes there are in total five key factors that contribute to Singapore’s pull, both as an innovation center and hub for regional operations. These five factors pertain to the framework that is offered by Singapore as a state. But there is more; the very essence of Singapore calls for creativity and innovation.
Housing and mobility
With a current population growth rate of 1 million per decade, Singapore needs new solutions for housing and mobility. For housing the city-state embraces new technologies to cope with the challenge of comfortably accommodating ever more people and maintaining the infrastructure over a long time. This results in Singapore being a front runner in Building Information Modeling (BIM), with 7D (sustainability) becoming the norm. BIM is the process that encompasses the entire development and management of the physical and functional information of a construction project. It are digital files describing every aspect of a building project and supporting decisions throughout a building life cycle.
Singapore is a front runner in Building Information Modeling, with 7D (sustainability) becoming the norm.
Concerning mobility, Singapore statistics are not bad: an average of 10 hours per person per year (hpppy) spent in congestion in comparison to 20 hpppy for the Low Countries [INRIX 2017 Traffic Scorecard]. Still, a lot of effort is invested in improving and preparing for the future. The comprehensive e-car sharing project rolled out with Blue-SG is a clear illustration of that planning for the future. And of how it brings business to innovative companies in Europe.
But Singapore does not stop there. Housing, mobility and integration are addressed at an even larger scale when we look at the plans for future towns in Singapore. Town centers will be transport hubs laid out in multiple levels. Upper underground levels will be used for commuter transportation to switch from bulk autonomous transport to the last mile transportation. Second and third levels under will be used for logistics operations, where during night time the provisioning of town shops and offices is catered for by autonomous vehicles. Here too are plenty of business opportunities for technology providers from around the globe to contribute to this vision. Reason enough for DSP Valley to take part in the trade mission to Singapore, organized by the Smart City Tech Alliance, and find a local partner.
One such outstanding local partner is IPI (Intellectual Property Intermediary). The organization was established in 2011 under Singapore’s Ministry of Trade and Industry. IPI’s goal is to enable enterprises to grow their businesses through technology and innovation. The organization does that by connecting Singapore-based businesses with local and overseas solution providers from both public and private sectors. Additionally, they facilitate partnership to bring new products & services to the market. IPI can do this because over the years, they developed a global network of technology partners and a technology marketplace featuring innovative technology from a wide range of industries. IPI also brought local startups and SMEs to our meeting, looking for opportunities to do business.
If you are looking to expand your business or if you have technology or solutions that fit in smart, eco-friendly buildings, or mobility solutions of the future, then Singapore might be a beach-head market for your innovation. An interesting tool you can use to get foot on shore in the city-state is the Gov-PACT Programme. By login in to this tool, you get informed on Singapore’s calls on innovation and you can submit your applications. If that is not exactly what you are looking for, let us know, so we discuss together the inroads DSP Valley can create for you.
The Gov-PACT Programme informes you on on Singapore’s calls on innovation.
Interested in first hand information on Singapore? Don’t hesitate to contact us