Successful Tech Hubs:
Singapur
Located in South-East Asia,
Singapore[1] is one
of the world’s last city-states and the only island city-state. A population of
5.5 million people are concentrated in a dense populated area in which lives a
multicultural mix of Chinese, Malay, Indian and European atmosphere. So even if
Singapore is in Asia, it is very different from China. As many other countries
in the Asian region, Singapore was a British colony. The nation’s core
principles are meritocracy, multiculturalism and secularism. It is noted for
its effective, pragmatic and incorrupt governance and civil service, which
together with its rapid development policies, is widely known as the “Singapore
model”. Today, Singapore is one of the richest countries in the world measured
by GDP per capita. But 50 years ago, Singapore was one of the poorest countries
in the world!!!
A great part of it’s success is
due to it’s world leading educational system. Capable teachers prepare students
to compete with the standard of the world, with the use of technology at the
center of the curriculum. Everyone is offered the same quality of instruction,
regardless of their background. With 20% of the national budget devoted to
education, Singapore has surpassed the US in reading, mathematics and science
& technology. Budget is also allocated to teacher development, fully
equipped classrooms, and revising their masterplan of the educational system. Focus
is also on language through computer innovations, well-equipped teachers, interactive
learning, a big budget allocation, and livable learning environment.
The Economic Development Board is
an Agency that was designed to encourage business and foreign investment. Electronics,
chemicals and biomedical industry have been amongst their top development
industries. They have also attracted many foreign companies to set up their
regional Asian headquarters in Singapore. The rich of the West are attracted to
Singapore due to it’s low taxes, stable government and protective banking laws
that keep their accounts secret. High cost of living and real estate prices,
however, have thrown many Singaporeans below the poverty line. Singapore is not
a huge market in terms of the population. Singapore is a very easy place to
step in and formally introduce products in terms of the country’s assistance,
and provides the advantage of the connections to the world that can be done
from here.
Consider though that Singapore
has concentrated in industrial development and the financial district. By
attracting foreign investment, they have positioned themselves as the best
place for Westerners to conduct business in Asia. However, they have not been
very innovative. This new phase for Singapore includes the focus on Start-Ups
to produce the NeXT technological monsters in the Asian region. “The Hub” is
Singapore’s largest community of entrepreneurs, creatives and techies. It is a
co-working space and community located in the heart of Singapore’s museum, arts
and design precint. It offers mentorship, incubation, workshops, events,
networking and corporate innovation labs. The largest technology convention in
tech in Asia’s conference history is being conducted in Singapore. Regardless
of lack of innovative history in Singaporean culture (being a very small and
remote place in South-East Asia) by attracting the best players in the world that
will immediately mean a leap in quality. As the world goes global, attracting
foreign investment but also foreign entrepreneurs with a global mindset to
scale their business from the local hub towards the region will become more and
more important.
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