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Building the
Most Advanced Nation

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:

  • Helping government agencies deliver better services to citizens and businesses,
  • Transforming how people live, work and travel,
  • Revolutionising healthcare, and
  • Providing greater efficiencies and safety.

The Singapore Effect

  • According to the 2016 Global Innovation Index, Singapore is Asia’s most innovative economy.
  • Singapore was ranked as the world’s top network-ready country in 2015 by The World Economic Forum
  • Singapore is the world’s fastest broadband nation according to Ookla, and was ranked the top and fastest-changing digital economy by Tufts University.
  • Global multinationals such as P&G, Nielsen, DuPont, GM and ADM continue to make Singapore an important part of their global innovation strategies, attracted by Singapore’s proximity to Asian markets and the ability to tap into the region’s future growth.
  • Singapore was ranked third out of 50 global cities for having a “future-ready economy”—i.e. having the right infrastructure and technology to serve people and grow businesses. That’s behind the Californian cities of San Jose and San Francisco, but above the likes of London, Sydney and New York.
  • Singapore hosts regionally significant innovation events that help develop the innovation culture by providing ideas and inspiration to startups, as well as means for them to source funding and market their products.

A hotbed for
Innovation

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.”

Grace Sai, CEO and Founder of the Impact Hub Singapore.

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:

Country-wide
Innovation Hub

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.