Singapore has cemented its position as a premier hub for global startups, thanks to its strategic location, business-friendly policies, and robust infrastructure. At the recent SWITCH (Singapore Week of Innovation and Technology) panel discussion titled ‘Launching Global Startups from Singapore’, industry leaders shared valuable advice for foreign entrepreneurs aiming to use Singapore as their springboard into the Asia-Pacific region. Here’s a breakdown of their insights and why understanding local business cultures can make or break your venture.
Singapore: A Launchpad, Not the Destination
Many startups see Singapore as an end goal, but this perspective misses the mark. Singapore's small size is both its challenge and its strength. While it’s too small to sustain large-scale operations independently, it’s the ideal base for prototyping, testing your MVP (Minimum Viable Product), and scaling operations before expanding into neighbouring markets.
The compactness of Singapore’s ecosystem is ideal for startups. Once you establish an entry point, whether through collaborative partnerships or government-backed initiatives like the Techscaler programme, the interconnected nature of the business community allows for rapid expansion. As one panelist noted, “the smallness of Singapore helps—once you break in, everyone knows everyone.”
To leverage Singapore effectively:
- Partner with local organisations to gain credibility and access.
- Take advantage of government support, which extends to global collaborations and connections.
- Build your network first and don’t be afraid to reach out to your wider connections; they’ll serve as your pipeline for growth.
Adapting to Business Culture in Singapore and Beyond
One of the most critical lessons from the event was the importance of understanding business culture. Singapore’s multicultural environment blends Western and Asian business practices, so be careful not to assume that business growth occurs in the way you might be familiar with. Here’s how to navigate these nuances:
1. Build Relationships First
Business in Asia often hinges on trust and connections, which take time to develop. Cold emails and impersonal outreach are far less effective than introductions through mutual contacts or local partners.
Face-to-face meetings remain the gold standard, especially when trying to establish rapport. While video calls have become common globally, they’re not yet as trusted in parts of Asia so it is worth making the effort to meet with people face to face if you can.
2. Use Local Communication Tools
While you may be used to relying heavily on email, in Asia, platforms like WhatsApp, WeChat, and Line are the norm. It’s not uncommon for contracts, purchase orders, or even business proposals to be exchanged over these platforms. Adapt to these platforms to build stronger, faster connections.
3. Respect Business Card Etiquette
Business cards are still a big deal in Singapore and much of Asia. Always present and receive them with both hands as a sign of respect. Double-sided cards - one side in English, the other in the local language - demonstrate thoughtfulness. Avoid automated translations and invest in professional translation services to ensure accuracy.
4. Prepare Extensively
Preparation is paramount. Whether it’s a formal pitch or a casual meeting, Asian business culture places a premium on being well-prepared. This extends to understanding the local market, cultural norms, and language barriers.
For example, Singapore’s public sector is a significant driver of demand and often works through systems integrators or B2B partners. If you’re targeting this space, know the purchasing channels and tailor your approach accordingly.
Why Singapore Adds Credibility to Your Startup
Launching your startup from Singapore doesn’t just open doors locally - it signals credibility across Asia. The country’s reputation as a business hub helps establish trust, making it easier to navigate conversations in neighbouring markets like Malaysia, Indonesia, and China.
Additionally, Singapore’s proactive stance on ‘borderless partnerships’ aligns well with startups aiming for regional and global expansion. The ecosystem here provides support at every stage, from initial setup to scaling operations abroad.
Embrace the Differences
The biggest takeaway? What is the norm in Europe shouldn’t be assumed to be the norm everywhere else. Success in Singapore and the broader Asia-Pacific region depends on respecting these differences. By adapting to local practices, whether it’s mastering WhatsApp for business or navigating cultural etiquette, you’ll build trust, credibility, and lasting partnerships.
For startups eyeing global success, Singapore is a launchpad that can propel you into some of the world’s most dynamic markets. But it requires more than just a great product: you’ll need cultural agility and a willingness to learn from your surroundings.
Interested in expanding your startup in Singapore and beyond?
If you’re based in Scotland, be sure to sign up for Techscaler membership to access opportunities to be eligible for international programmes and take the next steps in expanding your business globally.
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