Growth Dynamics of High-Tech Start-ups in Singapore: A Longitudinal Study
Singapore is home to a large and ever-growing pool of technology startups, thanks in part to the nation's widely-lauded ecosystem for entrepreneurship. Startup activity is at an all-time high. The volume of booms and busts amplifies the complexities of startup growth dynamics, making them difficult to grasp.
The NUS Entrepreneurship Centre (NEC) was awarded a research grant by the National Research Foundation to conduct a study on high-tech startups in Singapore. Carried out over a two year period from 2015 to 2017, the study comprises 3 components:
- A survey of over 400 young tech startups founded after 2010
- A tracer study of 62 surviving startups from an earlier project conducted in 2010
- Macroeconomic and international benchmarking analysis of firm dynamism trends in Singapore
Highlights from the Executive Summary
Singapore has high levels of firm dynamism when compared to other advanced economies
... Singapore's firm dynamism profile is ...suggestive of an entrepreneurial hub with infrastructure to facilitate firm entry and support development of young firms
Growth performance of startups is skewed and associated with multiple factors
.... A small number of startups account for a disproportionately large share of startup jobs...
Factors that correlate with growth performance:
- Innovation: ...
- Ecosystem support: ...
- Technology readiness: ...
- Strategy: ...
Singapore startups have high levels of innovation activity and technological capability
- A significant proportion of Singapore startups are highly innovative, having introduced a product or service that is completely new to the world.
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