Singapore is known for being a great place for expatriates, investors, and entrepreneurs looking to tap into emerging markets in Asia. However, due to the outbreak of COVID-19, any further business plan nor expansion came to a halt. Fortunately, Singapore already has a strong foundation in “Fintech", “Information and Communication Technology” and “Service Industry" which can lead to further development of digital transformation. And so, STARTBOARD held the Singapore Theme Night on October 29th, 2021 in hope to encourage more entrepreneurs nor investors who are interested in the Singaporean market to have a better understanding of the startup environment.
The successful event was filled with many honorable guests such as Mr. Stephen Sun (Secretary-General of NUS Business School Taiwan Alumni Chapter), Mr. Chien-Ping Chung (Director of the Incubation Center of NTUST), Mr. Michael Lai (Public Relations Director of Singapore Taiwanese Student Association), and Ms. Roanne Hsieh (Vice President of AIESEC in Taiwan). STARTBOARD has also invited two Singaporean experts who are willing to share their hands-on experiences in the Singaporean market. Firstly, Mr. Aaron Asher Su (Seasoned Marketing & Sales Professional), who has gained a wealth of experience of 15 years in marketing, sales & business development. Next is Mr. Quentin Yang (Business Development Manager of Glints) who is the founding member of Glints Taiwan and has rich insights on the market trends and the startup ecosystem.
Cultural Differences in the Workplace between Singapore and Taiwan
Mr. Aaron Asher Su as the Seasoned Marketing & Sales Professional guides us to answer one of the main questions for today’s event: “Why choose Singapore for business or as an individual?”. Since he is a Singaporean living in Taiwan, he shares the reasons why Singapore is considered as the Asia HQ for thousands of global businesses. Strategic location, bigger talent pool, business-friendly environment, and many more as the government will provide various benefits for future startups in Singapore. While it may sound good for businesses only, there are also other benefits for the individual who plans to seek out more opportunities in the country. The work culture in Singapore is more flexible than in Taiwan as the people emphasize the results instead of the work progress. Also with other attractive benefits such as the robust job portals and multicultural diversity can attract numerous opportunists coming to Singapore. Due to the pandemic, many business operations are affected so Aaron emphasized the importance of being digitally transformed as it will bring great advantages to businesses and also upgrade one’s skills from time to time.
Taiwan Startup Expanding to Singapore
Mr. Chien-Ping Chung, the Director of the Incubation Center of NTUST, shared his insights about expanding businesses into Singapore. Due to the Covid-19 worldwide, the government released policies to support startups with various subsidies in the country. As such, startups can get resources, funding, and the opportunity to expand into other countries. Numerous recommendations will also be given from the government and the efficiency of opening a business can be shortened to one day.
And in the latter section of the event, he moved on to share his experiences as the former director of AImazing. AImazing is a platform for mall management to collect shopper insights, tenant performance, and benchmarking in order to create data-driven decisions. It has supported more than 99% of Point of Sale Systems in Asia. Due to Covid-19, the impact on the economic sector has been greatly affected but more opportunities arise with the presence of digital transformation. To conclude his speech: “Singapore is a great location for most startups because it provides various subsidies”. As he mentioned before, various benefits from the government are accessible to anyone who is interested in setting up their business in Singapore.
Singapore Entrepreneur in Taiwan
Mr. Quentin Yang, the Business Development Manager of Glints shared about the recruitment journey with Glints. Glints is the largest talent platform for career development and recruitment in Southeast Asia. Their vision is to impact 100 million careers and 1 million organizations and also to be the number 1 talent platform in greater Southeast Asia. Glints’ status is currently on Series C and has over 900 employees; including in Indonesia, Vietnam, Singapore, Malaysia, and Taiwan. They have seen many cases where companies have problems with a talent shortage, longer hiring time, and high hiring costs. To help tackle the recruiting issues, they have built a well-developed talent pool database algorithm and have professional consultants to organize the profiles for matching with the recruiters’ requirements.
The difference he sees between Southeast Asia and Taiwan is that the market in Southeast Asia has shown potential high growth and is also home to the emerging tech ecosystems. With Taiwan, he has seen the blooming startup ecosystem and the growth of skilled tech talents which led him to build the foundation of Glints Taiwan in hopes to expand the company across Taiwan and Northeast Asian countries.