Infographic: What makes startup cities tick?

Singapore has given birth to internationally dominant companies, Photo credit: tykhyi / 123RF Stock Photo

Asia is the fastest-growing market in the world today and is well poised to become the most important world economy of the 21^st century. So it’s no wonder that it is already home to some of the globe’s most important startup hubs. With the combination of cheap labor, heavy support from business-friendly governments like those in Hong Kong and Singapore, and a wealth of skilled workers throughout the continent, Asia is an attractive home for entrepreneurs today.

Rather than needing brick-and-mortar shop fronts in high-traffic areas, entrepreneurs today need to keep overheads low, attract top talent, and reach global audiences with a strong online presence. It’s precisely these three key components that have made Asian business hubs like Singapore boom in recent years.

8 startup cities worldwide

Here’s an infographic by Towergate Insurance lists 8 of the best startup cities around the world, which includes Singapore:

Singapore

Singapore has given birth to internationally dominant companies like MoneySmart, Roomorama, TradeGecko, and 99.co. This relatively small city-state boasts more than 25 coworking spaces and 1800 currently registered startups. What’s more, the Singaporean government is renowned for supporting new business, offering incentives like the money-matching ACE Startups Scheme and charging a corporate tax rate of just 17 percent, which is astoundingly low relative to other major startup hubs around the world. Of course, the East certainly has some competition. So to better understand the Asian startup market in a global context, it pays to examine a handful of other leading startup hubs around the world.

San Francisco Bay Area

When it comes to startups, no single region in the world can boast a higher number than the San Francisco Bay area. At present, there are more than 25,500 registered startups in the Bay, which encompasses Silicon Valley, San Francisco, Berkeley, and Oakland. But for all its advantages, San Francisco has some of the highest real-estate prices in the world, and the cost of living is considerable—both of which are big obstacles for companies struggling to get a foothold.

London

The home of countless famed startups, including ASOS, CityMapper, and TransferWise, London has been a booming economic hub for centuries. It is home to over 100 coworking spaces, 8514 registered startups, and a variety of government-sponsored startup grants and assistance schemes. But, like San Francisco, London is plagued by high overheads and pricey rents.

Berlin

With a thriving arts community, a rich cultural scene, and a low cost of living, Berlin is a magnet for young talent from all around Europe, and counts startups like SoundCloud and Hello Fresh. At the moment, there are over 1700 registered startups in the city and more than eighty coworking spaces.

Amsterdam

With nearly 1200 registered startups and over fifteen coworking spaces, Amsterdam has enjoyed considerable success as a hub for startup and is often considered an ideal bridge between the US, UK, and European markets.