While India is making major leaps forward to become a giant force in the global commerce community, the truth of the matter is India is still somewhat of a developing market and not nearly as mature a breeding ground for startups as other locations around the world already are.
Because of the unique partnership and affinity that India and Singapore have for one another, Singapore has quickly become one of the most attractive countries for Indian entrepreneurs looking to build and develop startups and create the financial future that they may not have been able to build back home.
Here are just some of the reasons that so many Indian startups are moving to Singapore at every opportunity.
Effortless incorporation process
As we highlighted above, India and its culture of commerce is nowhere near as developed as the culture that Singapore has. Entrepreneurs looking to create a startup in India are going to have a much tougher time, face considerably more challenges, and have to chew through more red tape than they ever would in Singapore.
The effortless company incorporation process in Singapore alone is a major reason so many startups from India moved to Singapore, and it’s easy to see why.
Easy access to major and developing markets
Even though India has a tremendously high population, the truth of the matter is much of the population does not have the access to disposable income the way that Asian nations do – and that puts a hard cap on the earning potential and profit potential of startups that are targeting the Indian market alone.
Because of its close proximity to every major Asian market, as well as other markets around the world, creating a startup in Singapore as opposed to India puts you in contact with 2.8 billion potential customers.
Tremendous aid from the government
India is getting much, much better about building their own business and entrepreneurial talent from their own citizenry, but the government still hasn’t fully embraced pouring as many resources as humanly possible into the entrepreneurial community and startups in particular to jumpstart the economy the way that the Singapore government has.
Those that build a startup in Singapore are going to have a considerable amount of advantages that they just won’t get when they are in India. The government provides a lot of leverage, a lot of aid, and a considerable amount of investment into startups established in Singapore.
Infrastructure designed specifically to help build businesses as quickly and as profitably as possible
The infrastructure of Singapore has been highly developed to support businesses, education, and expansion. Those that start of their companies here get to take advantage of some of the fastest Internet connections in the world, top-notch public transportation, and amazing amenities and support in the Singapore community that just aren’t going to be found anywhere else.
This is a far cry from the majority of India, which is developing rapidly but still hasn’t made a major leap forward to become one of the most developed nations on the planet just yet.