Will Singapore Win Asia’s Start-Up Race?(BoF)

The article first appeared on the Business of Fashion.

SINGAPORE, Singapore — To say there are worse places than Singapore to start a business would be an understatement.

No tax on capital gains nor dividends, and an income tax cap at 22 percent are but a few perks offered to lure founders and investors to set up shop on its shores, strategically positioned on the lowest tip of the Malay Peninsula in the heart of Southeast Asia.

An abundance of government-backed and private grants fuel a Singaporean company’s start, while courses and networking possibilities create a nurturing and supportive environment for entrepreneurs, who echo that incorporation involves a few clicks and light paperwork. The result? Singapore’s 112 venture capital deals recorded in 2017 totalled $1.2 billion according to PwC, setting the ecosystem’s value at $11 billion compared to the global median of $4.1 billion.

“Ease of incorporation, access to funding, [and a] good talent base all … help us bui