{"id":2266,"date":"2017-09-05T11:59:08","date_gmt":"2017-09-05T11:59:08","guid":{"rendered":"https:\/\/www.octalsoftware.com.sg\/blog\/?p=2266"},"modified":"2019-11-15T10:00:56","modified_gmt":"2019-11-15T10:00:56","slug":"singapore-an-emerging-startup-hub","status":"publish","type":"post","link":"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/","title":{"rendered":"Singapore- An Emerging Startup Hub"},"content":{"rendered":"<p>Singapore professes to possess one of the best startup ecosystems across the globe. As per a report submitted by the World Bank, it is extremely easy and convenient to do business in Singapore. This is the reason entrepreneurs from all over are opting to launch their business operations in this southeast Asian Nation.<\/p>\n<p><b>Mentioned Below are prime reasons why Singapore is evolving as startup Mecca:<\/b><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_41_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-69f08f639685e\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69f08f639685e\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/#Easy_to_follow_rules_and_regulations\" title=\"Easy to follow rules and regulations\">Easy to follow rules and regulations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/#Simple_taxation_system\" title=\"Simple taxation system\">Simple taxation system<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/#Availability_of_educated_workforce\" title=\"Availability of educated workforce\">Availability of educated workforce<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/#Effective_connectivity_with_the_rest_of_the_world\" title=\"Effective connectivity with the rest of the world\u00a0\">Effective connectivity with the rest of the world\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/#Extensive_Government_Support\" title=\"Extensive Government Support\">Extensive Government Support<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/#Favorable_Location\" title=\"Favorable Location\">Favorable Location<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/#Stable_economic_environment\" title=\"Stable economic environment\">Stable economic environment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/#Ideal_base_for_people_eyeing_the_Southeast_Asian_region\" title=\"Ideal base for people eyeing the Southeast Asian region\">Ideal base for people eyeing the Southeast Asian region<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h6><span class=\"ez-toc-section\" id=\"Easy_to_follow_rules_and_regulations\"><\/span><b>Easy to follow rules and regulations<\/b><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Even though Singapore has strict rules and regulations pertaining to business yet these rules are uncomplicated thus making setting up of business easy as well as convenient. In a matter of a few hours, you can set up new firms. Intellectual property is given due respect, and rule of law is clear-cut. As per a survey conducted by the World Bank survey, it barely takes three permits and a total of three days if you intend to set up any business in Singapore. On the other hand, in India, it takes twelve approvals and almost twenty-seven days to begin any business.<\/p>\n<p><a href=\"https:\/\/www.octalsoftware.com.sg\/contact-us\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-2269 size-full\" src=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/testimonials3.jpg\" alt=\"testimonials\" width=\"800\" height=\"300\" srcset=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/testimonials3.jpg 800w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/testimonials3-300x113.jpg 300w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/testimonials3-768x288.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<h6><span class=\"ez-toc-section\" id=\"Simple_taxation_system\"><\/span><b>Simple taxation system<\/b><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>The comfortable tax regime makes Singapore a hugely favored spot for startups. Singapore caps the corporate tax at just 17%, whereas in India it is more than 30%. So the tax burden is relatively less. Also, if you hire Singaporeans the Government provides you extra incentives. The government basically subsidizes roughly half the salary of new hires in case they are the local residents, but this is not applicable in the sales department. <a href=\"https:\/\/www.octalsoftware.com.sg\/hire-mobile-app-developer\">Hiring app developers<\/a> for your business can be an additional benefit to you.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Availability_of_educated_workforce\"><\/span><b>Availability of educated workforce<\/b><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Educated workforce like to shift their base to Singapore due to greener pastures. Trained entrepreneurs get work permits without any problems. As there is no dearth of the educated workforce in Singapore setting a startup becomes relatively easier as you have the right combination of skill and experience.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-2270 size-full\" src=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/Startup-Accelerators-and-Incubators-in-Singapore-1440x564_c.jpg\" alt=\"Singapore startup hub\" width=\"1440\" height=\"564\" srcset=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/Startup-Accelerators-and-Incubators-in-Singapore-1440x564_c.jpg 1440w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/Startup-Accelerators-and-Incubators-in-Singapore-1440x564_c-300x118.jpg 300w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/Startup-Accelerators-and-Incubators-in-Singapore-1440x564_c-768x301.jpg 768w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/Startup-Accelerators-and-Incubators-in-Singapore-1440x564_c-1024x401.jpg 1024w\" sizes=\"(max-width: 1440px) 100vw, 1440px\" \/><\/p>\n<h6><span class=\"ez-toc-section\" id=\"Effective_connectivity_with_the_rest_of_the_world\"><\/span><b>Effective connectivity with the rest of the world\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Singapore\u2019s Changi Airport makes connectivity with the rest of the world an easy task. It is one of the busiest airports and operates flights to and from all the leading destinations. So, ex-pats who come to Singapore to do business do not face any issues entering and leaving the country as connectivity is good.<\/p>\n<blockquote><p><strong><em>Read Also: <a href=\"https:\/\/www.octalsoftware.com.sg\/blog\/looking-to-build-an-mvp-know-how-much-does-it-cost\/\" target=\"_blank\" rel=\"noopener\">Looking to Build an MVP? Know how much does it cost!<\/a><\/em><\/strong><\/p><\/blockquote>\n<p>&nbsp;<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Extensive_Government_Support\"><\/span><b>Extensive Government Support<\/b><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>In 2008, as per National Framework for Innovation and Enterprise (NFIE), the investment fund program known as the Early Stage Venture Investment Fund program was set up by the Singaporean government. This initiative is referred to as the Binational Industrial Research and Development Foundation. This program facilitates 5 venture capital firms to get matching assets from the government. This program led to a rise in the number of investors coming to Singapore as the Government was providing 85% of the start-up capital. The investors had to provide just 15%.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-2271 size-full\" src=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/digital-startups-entreprenuers.jpg\" alt=\"Singapore digital startups\" width=\"790\" height=\"530\" srcset=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/digital-startups-entreprenuers.jpg 790w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/digital-startups-entreprenuers-300x201.jpg 300w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/09\/digital-startups-entreprenuers-768x515.jpg 768w\" sizes=\"(max-width: 790px) 100vw, 790px\" \/><\/p>\n<h6><span class=\"ez-toc-section\" id=\"Favorable_Location\"><\/span><b>Favorable Location<\/b><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Due to the geostrategic location of Singapore, it becomes easy to access markets such as Indonesia, China, and Malaysia. This offers a very good opportunity for people who want to venture into something innovative. Singapore basically lies at the crossroads between the East and West. It offers the ideal atmosphere for people with different minds to come together in order to develop something new. All this is vital to the success of small technology businesses founders who have come to Singapore to earn big bucks.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Stable_economic_environment\"><\/span><b>Stable economic environment<\/b><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>For any business to flourish, a stable economic climate is needed. Singapore offers this to entrepreneurs. Due to strong Government support and no corruption, people do not feel scared to set up their business in Singapore. Also, the climate of Singapore is comfortable all year around. This also attracts people to come and stay in Singapore.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Ideal_base_for_people_eyeing_the_Southeast_Asian_region\"><\/span><b>Ideal base for people eyeing the Southeast Asian region<\/b><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Any startup which aims to target Southeast Asian region setting up base in Singapore seems to be a viable proposition. This is because Singapore Branding works any day better than any other place. Customers feel that they will receive credible services from Singapore based entrepreneurs.<\/p>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p dir=\"ltr\" lang=\"en\">How You Can Get Funds For Your <a href=\"https:\/\/twitter.com\/hashtag\/MobileApp?src=hash\" target=\"_blank\" rel=\"nofollow noopener\">#MobileApp<\/a> Development Project\u00a0<a href=\"https:\/\/t.co\/iv4IWj1X9c\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/t.co\/iv4IWj1X9c<\/a> <a href=\"https:\/\/t.co\/YdDZAMlDcw\" target=\"_blank\" rel=\"nofollow noopener\">pic.twitter.com\/YdDZAMlDcw<\/a><\/p>\n<p>\u2014 OctalInfoSolutionSG (@octalsg) <a href=\"https:\/\/twitter.com\/octalsg\/status\/904641482107248640\" target=\"_blank\" rel=\"nofollow noopener\">September 4, 2017<\/a><\/p><\/blockquote>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h6><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><b>Conclusion<\/b><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Due to all the above-mentioned reasons, Singapore is fast emerging as a hub for startups. The city-state is on No 4 spot as far as setting up a business is concerned while India is at the 173rd spot. There is a fast-growing angel investor and venture capital network in Singapore. For instance, Mobikon recently raised a whopping sum of $2 million in a joint investment from Jungle Ventures and SPRING Singapore. SPRING is a Govt-run fund, which puts money in startups together with local venture capital firms. Another point which draws companies in Singapore is the easiest listing norms of the market. Startups also get attracted as their dream of the US listing seems closer when they set up base in Singapore.<\/p>\n<p><a href=\"https:\/\/www.octalsoftware.com.sg\/contact-us\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-2248 size-full\" src=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/08\/Great-app-ideas.png\" alt=\"Great app ideas\" width=\"900\" height=\"350\" srcset=\"https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/08\/Great-app-ideas.png 900w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/08\/Great-app-ideas-300x117.png 300w, https:\/\/www.octalsoftware.com.sg\/blog\/wp-content\/uploads\/2017\/08\/Great-app-ideas-768x299.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore professes to possess one of the best startup ecosystems across the globe. As per a report submitted by the World Bank, it is extremely easy and convenient to do business in Singapore. This is the reason entrepreneurs from all over are opting to launch their business operations in this southeast Asian Nation. Mentioned Below [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","_uag_custom_page_level_css":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Singapore- An Emerging Startup Hub<\/title>\n<meta name=\"description\" content=\"Understand the crucial aspects of Singapore and know why startup accelerators and incubators in Singapore get most growth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.octalsoftware.com.sg\/blog\/singapore-an-emerging-startup-hub\/\" \/>\n<meta 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