Asia-Pacific region, over the past few years has been getting more attention from venture capitalists around the world. Recently, Singapore has jumped seven places to rank as the 10th best place in the world for start-ups to do business, according to research firm Compass.
Technology and e-commerce are leading sectors in the Asia-Pacific, with tech capturing nearly 27 percent of VC investments last year. The South-east Asian e-commerce market hit US$6 billion (S$8.4 billion) in turnover for 2015 and is expected to grow sharply in 2016, all because of growing class of non-urban consumers who are discovering online shopping on their mobile phones.
Already we have seen many international players routing towards Singapore for the expansion, knowing the growth potential that need to be explored.
Singapore has long been a thriving business center, and is home to the Asian headquarters of major U.S. companies such as Google, Uber and Facebook. Situated on the major sea route between India and China, the city has a huge potential for market reach, with nearly half (49 percent) of startup customers living abroad.
Singapore has the highest mobile penetration of any nation globally. Almost nine out of 10 people have access to a smart phone, according a recent survey by Deloitte. That provides new, exciting opportunities in e-commerce.