Singapore: a global hub for innovation and tech start-ups
Often cited as one of the easiest cities in the world to conduct business in, this is due to the fact that technology is as enshrined within its constitution as multiculturalism. This recipe is responsible for its formidable success.
#1 A highly educated and ambitious workforce
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Services & Digital Economy
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Innovation & Enterprise
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Urban Solutions & Sustainability
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Academic Research
- Research Manpower
- Health and Biomedical Sciences
- Advanced Manufacturing and Engineering
#2 Digitally driven initiatives
To nurture a multifaceted workforce and create an environment that supports a more holistic development, the country has embarked on a Smart Nation Initiative.
This focuses on a nationwide adoption of smart technologies and places emphasis on developing an economy powered by digital innovation. Which brings us to the next point.
Singapore is also a driving force behind the ASEAN-Australia Digital Trade Frameworks Initiative. Focus is placed on implementing legal frameworks and standards for digital trade, cybersecurity, data management and more.
As for the hot topic that is artificial intelligence? Singapore currently ranks as the third highest adopter of AI across Southeast Asia.
It also supports the development of new tech sectors by creating loosely regulated spaces for these businesses to experiment and take risks without worrying about rules and restrictions.
Singapore has also created so-called innovation sites (such as the JTC Launchpad @ One-North). These are specifically designed to provide start-ups with an environment that encourages growth. Located close to the city’s research and development, as well as education institutions, these are meant to facilitate and merge the worlds of academia and industry.
If ever there was a playground for growth marketers, dev-ops engineers, full stack developers to further hone their abilities, this would be the place.
#3 Progressive immigration regulations
The Employment Pass is meant for non-local professionals or members of a company’s leadership team who have job offers from or need to relocate to Singapore for a company they are employed with.
#4 Open economy and FTA
Another major draw is its the number of FTA agreements. It currently has 25 regional and bilateral FTAs under its belt. These trade partnerships have been instrumental in helping the country strengthen its cross-border trade.
#5 Digitally motivated governance
- Improved city planning
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Heightened public security
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A more reliable and efficient public transport system
Additionally, the National Digital Identity system (NDI) is being developed as an extension of the SingPass authentication system. It’s purpose? To create better security and convenience during online transactions. It will also be provide Singaporeans with a single digital identity to transact public and private sectors.
This transformative ecosystem makes Singapore a major attraction for global businesses and is a key element to its expansion.
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Whether you currently have operations in Singapore and are looking to hire from the tech talent pool or if you need help with setting up a team without establishing a physical entity, we’re here to help you. Find out more about Airswift and our wide range of solutions ranging from global employment and mobility to talent acquisition by getting in touch with us today!
