Silicon Valley was the main reference of the global technological avant-garde. But today it has a competitor on its heels: Singapore has become the leader in attracting talent for startups.
Since the 90s, Singapore has encouraged policies that created a favorable scenario for new and innovative companies. The pay-off of that investment has come slow, but it has finally arrived.
Silicon Valley continues to be the center in most technology categories, but its Asian competitor has managed to surpass it in the shortlist of attracting specialized talent. There are several reasons for this, such as high salaries and hiring difficulties with which North American start-ups coexist, among other issues. The immigration policies of the American country carry additional complications. And the Government of Singapore has been able to take advantage of this scenario and capitalize on it in its favor. A great bet on the future.
The ambitious program of the Singapore government started a few years ago and today everything revolves around technology. Its citizens have a fiber optic network that extends throughout the territory, providing them with high-speed internet. But the country wants to go further and become a laboratory; a kind of test room for smart solutions for urban issues that further transform this island into the land of innovation.
Cities that promote ecosystems of new technology companies have primary factors to consider such as financing, talent and technical skills, the market, the attraction of resources, experience, global connectivity, corporate participation, overall objectives, and strategy.