SEEA had the privilege of attending the Bits & Pretzels side event, "Connecting Visions," organised by German Entrepreneurship and Singapore Economic Development Board (EDB).
The event provided a treasure trove of information and shed light on the possibilities of expanding into the Singapore startup ecosystem. It was not only confined to the realms of FinTech and Deep Tech but also encompassed a broad spectrum of other opportunities made possible by the nurturing startup ecosystem that the city-state has to offer. This ecosystem is enriched by its robust funding mechanisms, state-of-the-art infrastructure, and a plethora of support programs and institutions that are tailor-made for entrepreneurs like us.
Here are the three key insights that resonated with us:
1. Contrary to conventional wisdom, a substantial 20% of Singapore's GDP is attributed to the manufacturing industry, overshadowing the finance sector at 15%. This paradigm shift underscores Singapore's diverse economic landscape and potential avenues for innovation within the Singapore startup ecosystem.
2. Singapore's strategic location makes it a launchpad for venturing into the broader ASEAN region, offering a unique opportunity to de-risk one's business endeavours within this dynamic market and tap into the vast potential of the Singapore startup ecosystem
3. The event emphasised the ample funding support that is readily available for startups and companies. The key lies in connecting with the right agency to guide you in the right direction. Furthermore, the low minimum paid-up capital requirement for starting a business in Singapore opens up new possibilities for entrepreneurs contributing to the appeal of the Singapore startup ecosystem.
For SEEA, what makes this event particularly valuable is the visibility it provided and the bridges it allowed us to build with new networks. We eagerly anticipate forging synergistic partnerships with other organisations to facilitate entrepreneurship in Southeast Asia within the European context.
We extend our heartfelt gratitude to the organisers and the Singapore Global Network for affording us the opportunity to partake in this enriching and enlightening event. It has indeed been a remarkable journey of discovery and networking, and we look forward to future collaborations that will drive Southeast Asian entrepreneurship to new heights in Europe.