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Singapore Leads Tech Innovation Hubs

Singapore, one of Asia’s reputable nations, has managed to secure its title in a global ranking of leading tech innovation hubs. Singapore strives to achieve a reputation as the heart of innovation. Singapore’s accomplishments as a leading tech innovation hub “have been part of the country’s strategic vision.

This achievement reinforces other strengths that the nation has consciously built up, such as a reputable global financial hub and a critical gateway for businesses to access the rest of Asia. The recognition that Singapore is only stronger if competitive on multiple fronts in today’s digitally connected global economy has fostered greater collaboration and convergence between sectors, industries and previously dispersed ecosystems.

The survey also showed that the cities that made it to the top 10 all had strong innovation ecosystems even before the pandemic. Among the top factors seen as important in the global ranking is an urban locale that attracts young professionals, a pipeline of skilled talent and modern infrastructure including high-speed bandwidth. Other factors include having at least one research-intensive university, positive democratic growth trends, and generous tax and other government incentives.
Amidst countless industry disruptions due to the COVID-19 pandemic, a notable 61% of survey participants reported having been influenced by the economic changes brought on by the pandemic. Although respondents claimed that the pandemic has shifted their forecasts on which cities would potentially grow into innovation hubs, results revealed there was not a contrasting difference from last year’s rankings.

The possible reasoning behind the consistent results is that all listed cities held advanced technological and innovative ecosystems prior to the pandemic, and are expected to maintain this strength post-pandemic.

The top-performing cities all fall into the category of developed cities, and the effects of the pandemic on urban life have been minimal. 44% of respondents highlighted urban city living as a crucial factor in building a technology hub, mainly due to its bustling and energetic lifestyle attracting young upcoming industry leaders who enrich the current pool of talent.
Secondary level education institutes also play a core part in generating knowledge, creativity, and potential for existing and future players in an innovation and technology hub. With leading universities located in urban locales, the survey results align with this forecast.

Among the top 10 cities listed, six belong to the Asia Pacific region, anticipating a potential post-pandemic boom. The region’s efforts to maintain virtual workforces and notable digital stimulation could even place a competition against California’s Silicon Valley once COVID-19 recedes. Asia is expected to take a leading position in innovation across the world.

As reported by OpenGov Asia, Singapore continues to grow in stature as a global tech and innovation hub as many tech giants build their companies in the nation. Built on high-quality infrastructure and a vibrant ecosystem of over 3,400 start-ups and 600 investors, the city-state was ranked the fifth most innovative city in the World Economic Forum’s 2019 Innovative Cities

Index. In 2021, it has now emerged as the second most innovative economy on a media company’s Innovation Index, for showing resilience amidst the tumultuous COVID-19 situation. The country’s efforts to spur innovation form part of a larger vision to build a resilient, sustainable and digital nation. In December 2020 Singapore’s five-year Research, Innovation and Enterprise plan was released, committing S$25 billion in funding research and development efforts to maximise the unique opportunities unveiled by the pandemic.

While innovation may initially seem daunting, it usually shines the most during times of great uncertainty. Innovation not only helps enterprises stay afloat, but the solutions generated through such efforts also strengthen Singapore’s resilience as a whole in the ongoing fight against COVID-19.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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