It’s no secret in the startup community that Singapore has become one of the top places to build a high-tech startup, ranking very favorably – and some people even consider it to be better ranked – than places like Silicon Valley, the real birthplace of startups in the first place.
With its incredibly low taxes, transparent approach to businesses, and maybe the most favorable government in the world when it comes to building businesses and creating entrepreneurial success, Singapore offers some pretty significant and game changing benefits when it comes to the startup community. Many are choosing Singapore as their base of operations to found their companies, and it’s really easy to see why.
Organizations like LaunchPad, one of the largest startup incubators in all of Singapore – and, in fact, one of the largest startup incubators in all of Southeast Asia – have been able to attract a tremendous amount of attention from the startup community and attract some of the best talent in the startup world as well.
Established in 2015 in an effort to support very young startups throughout Singapore, LaunchPad has helped more than 216 startups at the entry level – and only 30 of these 216 startups that have been created over the past two years have fallen by the wayside or folded up shop completely.
This is an incredible rate of success regardless of the metric that you use, but it is an even more incredible rate of success when you start to think about just how many startups fail within six months of operations beginning – or how many startups fail before they even open their doors up for business that very first time!
Professors at the National University of Singapore in the entrepreneurship department believe that the survival rate of those that partner with LaunchPad is something that simply wouldn’t have happened without the support of this organization, and it is a huge benefit to startups that are establishing themselves in Singapore that they have the opportunity to partner with such a group.
The collaborative efforts that go on behind the scenes when it comes to LaunchPad is where the real “secret sauce” is. Those that join this organization do so recognizing that they aren’t just going to be working to build their own startups and their own businesses but also help others in the startup community do the same.
It’s this spirit of an interlinked community that helps to LaunchPad to succeed. Founders and top talent in these startups are looking for ways to share, looking for ways to collaborate, and looking for ways to rise up in prominence while bringing as many of their friends and partner organizations up in prominence with them as well.
Sure, the startup community remains one of (if not THE) most competitive areas of the business world today, but at LaunchPad partners are always looking for ways to help other startups improve their standing and their odds of success while competing against the rest of the world as well!
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like 10 reasons to invest in Singapore commercial propertyand all topics related to Business and Economy, if you are interested about Business registration Singapore visit our website.
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