Singapore through the eyes of local startups

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A country that is the smallest in physical size among the ten ASEAN nations, but yet holds the highest GDP per capita at US$52,000, Singapore is known to be one of the four Asian tigers. With no natural resources except its people, its resilience and the need for constant upgrading and innovation have been pivotal in keeping Singapore ahead of the curve and ensuring its survival.

This is prevalent in its macro policies for innovating ahead: a 5-year US$12b R&D research budget, a Smart Nation vision, upgrading and equipping its citizens with new skills via the SkillsFuture program, and many added bold infrastructural plans to build a great tech ecosystem.

But over at the micro level, how do startups operate in a small yet fast-paced nation like Singapore? And how do the consumers behave in this market? I spoke to the local startups operating out of this market for their insights.

The Singaporean consumer

Photo credits: Dickson Phua

Chang Wen Lai, co-Founder and CEO of Ninja Van, the fastest growing logistics company in Southeast Asia using innovative technology-savvy solutions for ecommerce firms, finds Singaporeans time-constrained and use ecommerce platforms widely despite close geographical proximity.

“Young Singaporeans are incredibly driven to succeed, and often stop at nothing in their pursuit of their goals, which often leads to long hours spent in the office or at school. Because of this, ecommerce companies have to adapt and provide time/location flexibility in their delivery methods for their customers.

To resolve this, we recently launched the Ninja Collect service, which allows customers to pick up their parcels from one of our 75 conveniently located collection points located across the nation at their own time, rather than being confined to a specific delivery time-frame.”

Ecommerce companies have to adapt and provide time/location flexibility in their delivery methods for their customers.

Cai Li, co-Founder of Airfrov, a peer-to-peer marketplace that connects requestors who seek overseas products to returning travellers who can bring the items back, finds Singaporeans well-versed in ecommerce.

“Singapore has a matured ecommerce infrastructure landscape. From payment to logistics providers, there are plenty of options and potential partners that startups can work with,” he said, “Most importantly, Singaporean consumers trust online platforms with their purchases. They are willing to pay upfront for goods and services, which is essential for Airfrov to work. That can also be attributed to the fact that Singaporeans are very well-travelled, and hence are more receptive to new ideas and experiences.”

Challenges of operating in Singapore

Operating and using Singapore as a HQ

Advice to startups

Ending thoughts