Why Singapore is the best place for digital entrepreneurs
Why should more digital and social media entrepreneurs come to Singapore to create and launch new tools and applications? Is it the ease of doing business factor? Or this nice oasis feeling, with palm trees, beaches and sunshine all year long?
Both are true. But in the end, what drives an entrepreneur is ways to make his business successful.
Singapore is THE place to become a successful entrepreneur. Especially when you work in the digital space, creating apps and social media tools; and when you’ve realized that the end of business as usual is very near.
So what makes Singapore attractive to digital entrepreneurs?
There are 5 main reasons: Firstly, and most importantly: the Singaporeans! They know how to embrace new technologies and make use of it. They can easily handle three mobile apps or more at the same time while checking for latest promotions or chatting with their friends. What sounds like a numbers game only, means much more. To please a Singaporean, your app must be easy to use, go straight to the point and have the right amount of added value. Otherwise, they won’t use it. What makes your app or any digital product better is user feedback. They are honest and direct here. If Singaporeans won’t use it, chances are good that no one else will.
Second reason: A great opportunity to tap into the creative energy from a growing entrepreneurial community. It is buzzing here!
Brilliant initiatives are flourishing, and it’s refreshing to have access to dynamic events where people share their ideas.
That is also the third reason: People are open to share insights, and give open and honest feedback. It may be a small number of entrepreneurs who do so, but I've never experienced so much support elsewhere. Whenever I come home from a meeting, I’ve learned new ideas, and I’m more excited than before.
Of course, competition is tough, but that’s also great, it makes you and your ideas better – everyday. And entrepreneurs here are sharp, you'll be happy for them when they become successful. It’s a real-life school for entrepreneurs. If you survive Singapore, you’re ready to conquer the world!
Fourthly: This willingness to share and support is part of the Singaporean entrepreneurial culture. It’s a small country, but it’s so dynamic! The atmosphere is positive, futuristic and optimistic.
The government is supportive, launching many initiatives to drive this idea-friendly environment. And organizations such as Singapore Entrepreneurs, e27 and techinasia.com contribute awesomely to this thriving culture.
I think that must have been the feeling in 1960s in California or in the 1990s in Silicon Valley. Well, that was then, Singapore is Asia’s “Silicon Island”. Entrepreneurs are urged to shoot for the sky. There is no better place to do so than here in Singapore.
What I miss though, is the lack of real encouragement from investors. Singapore, and perhaps the whole of Asia has the chance to take the place between America, where you get millions for nothing, and Europe, where you get nothing for million dollar ideas. Dear investors, it’s not only real-estate where you can make money!
With successful formats such as DEMO and Echelon, the avenues for entrepreneurs and investors to come together are already there. But investors are still very cautious to make a move.
Last but not least, reason number 5: the quality of life! For those few moments when you’re not working, Singapore really has everything to enjoy a great lifestyle and have a good time. Even entrepreneurs need a break sometimes.
Peter Ulrich, Serial Entrepreneur and Co-Founder of the Singapore based social nightlife network goinout
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