Topic : The roles of Singapore startups in the Singapore economy
Team 3:
1. Aminul Solihin - East Java
2. Gloria Adelaide Batoteng - East Kalimantan
3. Hairulah Agus - Bangka Belitung
4. Janeke Waromi - West Papua
5. Muhammad Panatagama Syahid - West Nusa Tenggara
6. Syifa Fauzia - West Sumatra
Facts Ideas Learning Outcomes Acts
(Pengaruh Startup) (daftar pengaruh yang diberikan) (cara mengatasi (bukti nyata pengaruh tsb)
pengaruh/kebijakan pemerintah)
● Singapore’s startups are ● Ingredients that underpin a ● $600 million in government ● Turnover from abroad rose
becoming agents for vibrant startup ecosystem capital is allocated to a new 4.2 % in 2016 from the
globalization. (2nd speaker) ● An international mindest. International Partnership previous year.
Fund ● Overseas revenue made up
● Among a range of initiatives 53 % in 2016, a 3% increase
announced in budgeting to from the previous year.
help Singapore businesses ● International Enterprise
scale up and internationalize. Singapore shows that
The 2017 Singapore Budget Singapore businesses are
and the Committee on the reaping the rewards from
Future Economy's report international expansion,
both outline the strategies with China, Myanmar, and
and initiatives needed for the Vietnam as particular focus
Singapore economy to be areas.
innovative, nimble, and ● According to World Bank’s
international. Doing Business 2019 report,
● Underscoring the importance Singapore has been
of looking beyond consistently recognized as
Singapore’s shores to spur the world’s best place to do
economic growth. business in the World
● a rational tax system with Bank’s annual survey of 189
low tax rates economies around the
World.
● To robusting economy (3rd ● Well trained and productive ● Efficient process for ● In 2019, according to the
speaker) workforce incorporating and running a Singapore Department of
● Surge of creativity and new company Statistics, the country was
disruptive ideas from local ● Well-developed capital home to 3,600 tech start-ups
entrepreneurs is already markets and financial system which had created 18,000
invigorating the wider jobs.
business economy in ● Singapore is a leader in terms
Singapore. of VC and PE investment.
● A final key feature of ● No restriction of repetition of
Singapore startup’s profit or import of capital.
ecosystem is the level of ● Unlimited liability or
connectivity between the business owner is personally
different stakeholders within liable for the debts and losses
it. of the business.
● Singapore has more than 270
vc funds, 4.000 tech
start-ups, employing close to
22.000 people.
● ESG database lists 184
incubators, accelerators, and
related intermediary
organizations that support
start-ups in Singapore.
● The incubators and
accelerators in the country
have received support from
the Start-up SG Accelerator
(SSGA).
● Mentorships, partnerships,
and other forms of
connectivity are prevalent
throughout the ecosystem.
Connectivity is fueled by
major events such as the
annual Singapore Week of
Innovation and Technology
(SWITCH), organized by
Enterprise Singapore,
together with the National
Research Foundation (NRF)
and Intellectual Property
Intermediary.
● Relative to other start-up
ecosystems around the
world, Singapore’s tech
entrepreneurs are highly
connected to each other,
which tends to have a
positive effect on company
growth.
● Excellent quality of life (4th ● A community-based and ● Excellent infrastructure ● Singapore has strategic
speaker) Collaborative approach. ● Stable political and geographical location
● Showcasing the benefits of economic climate ● Well functioning
partnerships and government that is free of
collaboration. red-tape or corruption
● Strong adherence to the rule
of law.
Lesson Learned Action Learn
● Sof creativity and disruptive ideas from local entrepreneurs ● The young people = the lots of energy
● Startup ecosystem ● Showcasing the benefits of partnerships and collaboration
● Efficient process for incorporating and running a new company
and increasing venture fundings activity & amounts in Indonesia.
● Well developed capital markets and financial systems ● Taking understanding among each other that the government
policy and the technology create a new standard of living for us,
but also for the World.
● Well developed human resources ● Startup technologies -> startup agribusiness
Reference:
1. PwC (2015). Singapore’s tech-enabled start-up ecosystem. [online] www.pwc.com, Singapore: PwC, p.67. Available at:
https://www.pwc.com/sg/en/microsite/media/assets/startup-google.pdf.
2. Sabuncu, P. (2021). Startups’ key role in Singapore’s economic transformation. [online] Businesstimes.com.sg. Available at:
https://www.businesstimes.com.sg/opinion/singapore-budget-2017/startups-key-role-in-singapores-economic-transformation.
3. Toni, E., Jamil, W. and Sarah, L. (2021). The Evolution and State of Singapore’s Start-up Ecosystem. [online] Available at:
https://openknowledge.worldbank.org/handle/10986/35328 [Accessed 10 Aug. 2021].
4. A1 Corp. (2016). Will tech startups play a greater role in Singapore’s future economy? [online] Available at:
https://www.a1corp.com.sg/will-tech-startups-play-greater-role-singapores-future-economy/ [Accessed 10 Aug. 2021].
5. Enterprise Singapore (2019). Singapore strengthens its startup ecosystem to enhance position as a Global-Asia node for technology,
innovation and enterprise. [online] www.enterprisesg.gov.sg. Available at:
https://www.enterprisesg.gov.sg/media-centre/media-releases/2019/april/singapore-strengthens-its-startup-ecosystem-to-enhance-position
-as-a-global-asia-node-for-technology-innovation-and-enterprise.
6. Pooja Singh (2018). Why Singapore is a Startup Paradise. [online] Entrepreneur. Available at:
https://www.entrepreneur.com/article/324589.
7. Report of the Committee on the Future Economy. (2017). [online] Singapore: Committee on the Future Economy, p.143. Available at:
https://www.s-ge.com/sites/default/files/mig/sites/default/files/censhare_files/report-committee-future-economy-english.pdf [Accessed 8
Aug. 2021].
8. Setyowati, D. and Burhan, F.A. (2020). Penyebab Startup Singapura Lebih Dilirik Investor Ketimbang Indonesia - Startup
Katadata.co.id. [online] katadata.co.id. Available at:
https://katadata.co.id/desysetyowati/digital/5f86de1abc734/penyebab-startup-singapura-lebih-dilirik-investor-ketimbang-indonesia
[Accessed 11 Aug. 2021].
9. World Bank Group (2021). The Evolution and State of Singapore’s Start-up Ecosystem. [online] Washington: The World Bank, p.70.
Available at: https://openknowledge.worldbank.org/handle/10986/35328.
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