Are Entrepreneurs in Singapore Over-Reliant on Government Grants?

Credit: blog.seattletimes.nwsource.com

Singapore is an interesting place to start up a business. We have a lot of access to capital, both from the private and public sectors. Some folks say that we’re uncreative, arrogant, and over-reliant on government funding. Others say that Singapore is an ideal place to start up in Asia.

I recently had a meeting with Dr. Lim Kuo-yi (check out his profile here) to discuss what are the topics that we’ll be discussing live on stage at Startup Asia this coming February. I’m pretty psyched that we’re going to hit topics that most people are curious about: government grants, and whether or not they’re an effective strategy, the big plan behind Singapore’s numerous grants, and key-performance-indicators to measure success.

With experience as an entrepreneur and investor both from the private and public sectors (now the CEO of Infocomm Investments), Kuo-yi is the perfect man to shed light on these topics. You can expect very straightforward questions and answers during the coffee chat. But as a caveat, Kuo-yi’s opinions are his own and not a representation of his company.

Now, let’s be clear that the session isn’t set up to bash the Singapore government. In all respects, I think the different government bodies have done a brilliant job in encouraging entrepreneurship in this tiny island. Nonetheless, no plan is perfect. So I thought it would be healthy to discuss some of the issues and perhaps even recommended changes as our discussion goes on. This will also be a good chance to help our overseas friends to better understand why the Singaporean government is investing in tech and entrepreneurship, and what’s the larger vision behind it.

So are entrepreneurs in Singapore over-reliant on government grants? It depends on the entrepreneur, doesn’t it? If the entrepreneur makes it a habit and takes the grants for… um… granted, then yes. We will share more of our thoughts at the very first coffee chat of Startup Asia this upcoming Feburary.