Even though the Singapore government had always been very favorable to the local businesses they made absolutely no qualms whatsoever about their desire to court as much international talent as humanly possible – all while lamenting the lack of entrepreneurs that were “homegrown” right here in Singapore.
Today nothing could be further from the truth.
Today there are more entrepreneurs in Singapore and then ever before, in large part thanks to the major push forward that the Singapore government has initiated in trying to encourage and support young entrepreneurs from as early and age as humanly possible.
New programs like the Singapore Overseas Network, the Economic Review Committee, and even the Civil Service have all helped to initiate this tremendous growth – but a lot of the growth has been driven by incredibly unconventional proposals that helped to push more and more young people of Singapore into the entrepreneurial paths.
A thriving startup community in Singapore is changing the landscape of the nation
The Economist considers Singapore to be the “world’s most tightly packed entrepreneurial ecosystem”, and a big driver of innovation, technology, and new business in all of Southeast Asia and the rest of the world.
Experts at this journal have also called Singapore the Southeast Asian equivalent of Silicon Valley, with more than 1000 people in hundreds of different startups and incubators all across the country.
Entire neighborhoods are popping up left and right completely dedicated to supporting entrepreneurial efforts, including the now world famous “Block 71”. What started off as a single neighborhood blog has now grown into three (and eventually six in just one year), housing more than 750 startups that all have fantastic relationships with one another and support each other in every and every way possible.
The future is incredibly bright in Singapore today
The most amazing thing about the rise of the Singaporean entrepreneur is that it shows absolutely no signs of slowing down whatsoever, but instead only gaining exponential speed until it reaches escape velocity and has the potential to transform the very fabric of this economy.
By 2035 experts suggest that startups alone will contribute more than 2% of the entire Republics globe GDP – a number that would have thought to be absolutely impossible and untenable even just five short years ago!
Schools are popping up left and right to support entrepreneurs, polytechnic institutions give young people all of the resources they need to leverage the experience of those that have gone before them to build off of their work and their shoulders, and businesses left and right are looking for ways to support their young people and their employees to help them push even further into the future.
We live in the middle of the most competitive business environment in human history, but the people of Singapore are very well suited to rise, meet, and conquer those challenges. There are a lot of new young business leaders being molded in Singapore right now (more than ever before), and it’s a very exciting time to track the success that they all are going to enjoy!