Singapore has surged to 5th place globally among top startup nations, according to StartupBlink’s Global Startup Ecosystem Index, surpassing Sweden and potentially challenging Canada’s 4th position next year. Over five years, Singapore has climbed 16 spots, making it the fastest-growing startup ecosystem worldwide.
Having surpassed China in 2022, Singapore now boasts a score double that of China, solidifying its status as Asia's premier startup hub. The country scored 37.736 in the latest index, ranking 3rd globally for its business environment, which is noted for its favorable regulatory conditions for startups.
StartupBlink highlighted Singapore as a model of innovation and a preferred location for startups due to its financial stability, pro-business policies, and advantageous tax environment. Despite its small market size, Singapore's startup ecosystem thrives on scaling overseas, providing a unique regional perspective.
Singapore City also improved in city rankings, moving up four places to 16th, surpassing Shenzhen and becoming the 6th highest-ranked city in the Asia-Pacific region.
Article from Singapore Business Review. Read more here or in the PDF below.
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