According to the Financial Times Singapore hopes to become the Silicon Valley of Asia. The city state is well placed to fulfill its aim of becoming a “Silicon Valley”. While China and India attract more dollars, Singapore offers a strong legal system and minimal red tape, i.e. business can be set up online in 15 minutes.
Best of all much of the privately raised venture capital is matched by government funding, helping Singapore trump most of its peers outside China and India in terms of overall investments.
Singapore´s $324m last year was nearly 10 times Hong Kong´s $37m, according to Asian Venture Capital Journal. That is still far behind China, which saw $5,5 bn in investments in the first half of this year and then India with $3,3 bn.
Challenges also exist, for example the glaring problem of creative talent. This will be an interesting journey to follow. I am quite sure Singapore´s decisive government is able to act and improve this specific area as well.