As Mundipharma CEO Raman Singh puts it, “Singapore was always a country that was ahead of its game...[and in doing so] has established the standards of innovation.”
The Smart Nation initiative is truly Singapore’s innovative spirit in action, leveraging data and technology like never before to help enhance people’s lives in a seamless manner including:
Building upon its innovation goals, Singapore offers a stimulating environment to encourage creativity and entrepreneurship.
In a recent survey, Singapore has overtaken Silicon Valley as the number 1 destination for global start-up talent.
“There’s a very unified drive on this island—that we have to be innovative, almost self-reinventing, and that cuts across all levels of society and government.”
A notable example is the distinctive Blocks 71, 73 and 79 development just outside the city, which house Singapore’s vibrant entrepreneurial ecosystem including prototyping labs, start-ups, accelerator boot camps, venture capital firms and incubators. Successful projects include biotech incubator The BioFactory and Exploit Technologies, the technology commercialisation arm of government research agency A*STAR.
Indeed, Singapore has created an ideal environment for the start-up industry: it makes a clear effort to reduce many of the logistical barriers associated with starting a business, including minimizing time to incorporation.
The government’s open data portal also gives start-ups access to data sets that make it easier to develop innovative ideas and share data. Apps that use this portal include:
Technological innovation is making significant impact across a wide range of industries across the country:
Thanks to its connectivity, leadership in innovation and world-class infrastructure, Singapore has become a hub of global tech conferences, including ISACA Cybersecurity Nexus (CSX) Asia Pacific, the Internet Engineering Task Force (IETF) 100 meeting and Smart Nation Innovations Week, which is a week-long collection of events focusing on start-up and innovative technologies. All of which attract leading tech innovators and industry pioneers to speak and share their insights, including Peter Vesterbacka, founder of Angry Birds, and Rob LoCaxcio, founder of Live Person.
On its path to becoming the world’s first Smart Nation, Singapore is already unmatched across the region. Combining government, private and education sectors with big data and next generation technology, the city-state is fueling a robust ecosystem that cultivates entrepreneurship and inspires innovative and transformational thinking that is set to reimagine and redefine our world.