Singapore's Rise as a Pioneering Hub for Tech Innovation
Most of us are aware of the level of tech development in Singapore, as well as the concentration of tech companies and their employees. However, do we know how this country achieved the tech hub status and why? Probably not, but stay tuned to find out the answer. The fact is that SG has obtained this title thanks to several factors.
It all started when AvePoint, a famous company that gave the world SaaS, recognized the potential of Singapore as a tech hub, and the potential of South Asia as a new market. AvePoint was the pioneer, and many of them followed. Apart from the software development industry, the online gambling industry also found its way to Singapore and, since online entertainment is also a huge part of the tech world, boosted its success as a tech hub. Not only did the development of the Singapore online betting industry help the country make progress, but the people there have had more opportunities for online entertainment than ever which boosted their satisfaction, too.
Let us come back to software development and AvePoint. Ever since they moved their R&D center to Singapore some thirteen years ago, they continued to thrive, having ended up with two hundred employees. Many companies decided to follow in their footsteps, which resulted in some other big names moving to the big hub. One of them is ServiceNow, a company that provides cloud solutions for businesses. Both companies' representatives had similar impressions of Singapore. They were amazed by the country’s economic development, as well as their level of technical development and openness to talent and corporate success. Singapore now holds eighty percent of the world’s best tech companies’ headquarters and this is more than impressive.
The allure of this country may remain a mystery for some, but a part of it definitely stems from the country’s business-friendly environment, as well as the support of the government in talent acquisition.
We also mentioned some benefits concerning the market. Singapore’s handy location makes it a great place to cooperate with huge markets all over South Asia. Not only that its location is attractive, but SG’s status as a leader in the region, makes it a role model for other markets which makes it extremely easy to expand from SG to another market. This particularly important fact makes SG even more appealing to companies and adds one more reason to the bunch for other companies to follow.
SG’s government actively supports collaboration with both local and international parties. Since the country has the full support of its government with the aim for Singapore to continue thriving as a tech hub and a market force, it is no wonder that this country continues to make progress and maintain its reputation and popularity. While this continues to be true, there is absolutely no fear that SG will keep being the number one tech force in South Asia and wider than that.