Blog of a Sentimental Data Digger
The government is matching venture capital investments and teaching kids in grade school how to start their own companies
Singapore has spent the last decade building out an infrastructure to help its best and brightest get over their fear of failure so they can launch new companies. "In the early 2000s the government decided we didn't want to put all our eggs into the foreign investment basket, which means we need to create our own start-ups," said Edwin Chow, director of planning at SPRING Singapore, an agency under the Ministry of Trade and Industry founded in 2003 to promote and support start-ups.
The nation boasts a broad range of government-sponsored initiatives as well as public-private partnerships. They include almost 40 government-supported incubator programs and several programs that match, dollar-for-dollar, any money a start-up gets from the private sector up to $1.5 million. To name just a few: