Entrepreneurship in Singapore

Transcription

1 Multi-Year Expert Meeting on Enterprise Development Policies and Capacity-building in Science, Technology and Innovation (Third session) Geneva, January 2011 Entrepreneurship in Singapore by Sim Choon Siong Director, Entrepreneurship Development SPRING Singapore This view expressed are those of the author and do not necessarily reflect the views of UNCTAD.

2 Entrepreneurship in Singapore Sim Choon Siong Director, Entrepreneurship Development, SPRING Singapore Secretariat to the Action Community for Entrepreneurship 20 January 2011

3 Journey of Entrepreneurship Phases of Economic Development : Export Oriented Industrialisation : Industrial Restructuring 1998 onwards: Transforming to Knowledge-Based Economy : Capability Building and Economic Diversification 2

4 Entrepreneurship as a Strategy Crises Entrepreneurship to be driver of Singapore s economy Appointed Minister in charge of Entrepreneurship The Action Community for Entrepreneurship (ACE) a public-private sector collaboration to enhance entrepreneurship landscape SPRING Singapore is the government agency that promotes enterprise development Entrepreneurial Singapore 3

5 Overview of ACE 4

6 Action Community for Entrepreneurship ACE is a private and public sector movement aimed at creating a more entrepreneurial Singapore. Building a Pro-enterprise Environment Facilitate Review of Rules and Regulations Pro-Enterprise Ranking of Government Agencies Facilitate SME Financing Facilitate Networking & Learning BlueSky Exchange / Festival Building an Entrepreneurial Culture ACE Speakers Circuit Enterprise Day Global Entrepreneurship Week 5

7 ACE Structure Chairman Minister Lee Yi Shyan Deputy Chairman Inderjit Singh, Entrepreneur Action Crucibles Culture Mrs Kim Faulkner, Mr Prakash Somosundram, Entrepreneurs Research Dr Antony Ng, Entrepreneur Internationalisation Mr Richard Eu, Entrepreneur Rules Mr Patrick Daniel, Executive Supported by Secretariat (SPRING Singapore) 6

8 Some of ACE s Contributions Ranked government agencies for their pro-enterprise orientation Changed 960 rules from 1750 public suggestions Worked with partners to roll out Deal Flow Connection, SME Loan Securitization and Over the Counter Capital (private capital exchange) Reached out to over 32,000 entrepreneurs and aspiring entrepreneurs through 7 annual BlueSky Festivals, 45 BlueSky Exchanges and 3 GEW. Reached out to 36,000 students through 165 talks to schools Catalysed S$25m Entrepreneurship Talent Development Fund for youth Mentored 6 companies for internationalisation 7

9 Overview of SPRING 8

10 SPRING s Mission and Vision SPRING Vision Global Singapore Enterprises SPRING Mission To help Singapore enterprises grow and To build trust in Singapore products and services Enterprise Development Quality & Standards 9

11 Enterprise Development Strategies Global Singapore Enterprises Pool of Home-Grown Champions in Key Sectors Groom Growth- Oriented Enterprises Management Seed and Nurture Innovative Start-Ups Develop Competitive Clusters Know-How Money Strengthen Environment Conducive for Enterprise Development Markets 10

12 Strengthen Environment for Enterprise Development Key Initiatives Supporting Entrepreneurship ACE Entrepass YES! Schools Pro-Enterprise Rules and Regulations Pro-Enterprise Panel (PEP) Ease of Doing Business (EoDB) Access to Financing Govt Loans, LEFS, LIS, MicroLoan OTC Access to Info & Capability Upgrading Network of 5 EDCs EnterpriseOne Portals / Hotline Innovation Voucher Scheme (IVS) 11

13 Strengthen Environment for Enterprise Development Online business info and government e-services Business Support Services: One Network for Enterprises Enterprise Development Centres (EDCs) Business & Financial advisory & consultancy services Market info resources & research services 12

14 Develop Competitive Clusters Key Initiatives Build Manpower Capabilities Drive Capability Upgrading & Innovation Enhance Productivity and Service Grow New Markets Partnership with Trade Associations & Chambers (TACs) through LEAD Programme 13

15 Seed and Nurture Innovative Startups Key Initiatives IHLs RIs Idea Generator Proof of Concept/ Commercialisation Go to Market Individuals YES! Schools Business Plan Competitions YES! Start-Ups Technology Enterprise Commercialisation Scheme (TECS) SPRING SEEDS Business Angels Venture Capitalists Incubator Development Programme 14

16 Grooming Growth-Oriented Enterprises Key Initiatives Market Facilitate Access to Global Markets, Link SMEs to MNCs & Foreign SMEs Management Advanced Management Programme; Management Development & Executive Development Scholarships; Business Advisory Programme; Executive Training Programme & HR Capability Programme Know-How Technology Innovation; Branding; IP Management; Business Excellence; Design Money Private Sector (OTC Capital, Catalist, etc) Supported by TACs 15

17 Some Achievements for Singapore #1 ( ) in pro-enterprise environment World Bank Doing Business Report #1 (2008) in government policies & corporate performance most encouraging to innovation BCG Global Innovation Index / NAM / MI International Innovation Index #3 ( ) in world competitiveness ranking World Economic Forum Global Competitiveness Report #4 (2009) in access to capital US Milken Institute Capital Access Index 16

18 Entrepreneurship Education 17

19 A Vibrant Youth Entrepreneurship Scene Encourage Experimentation, Innovation & Enterprise Learning Competition Experience Learning by Doing Awards & Recognition Startup Immersion Experience 18

20 A Vibrant Youth Entrepreneurship Scene Innovation and Enterprise Learning Teach Less Learn More ACE Speakers Circuit Junior Achievement (JA) / FedEx International Trade Challenge Spirit of Enterprise $22m University Innovation Fund Diplomas, Degree (Minor) in Entrepreneurship MSc Technopreneurship & Innovation Programme 19

21 A Vibrant Youth Entrepreneurship Scene Encourage Experimentation Design Competitions Tan Kah Kee Young Inventor Award YESCOM National Pushcart Challenge Lee Kuan Yew Global Business Plan Competition Business Plan Competition 20

22 A Vibrant Youth Entrepreneurship Scene Startup Immersion Experience Internships with Singapore-based startups (e.g. Innovative Local Enterprise Achievement Development or ilead) Internship with overseas startups via NTU Technopreneurship and Innovation Programme and NUS Overseas College Programme (NOC), e.g. in Silicon Valley, Bio Valley, Shanghai, Stockholm, Bangalore, Beijing 21

23 A Vibrant Youth Entrepreneurship Scene Award & Recognition Shell LiveWIRE Spirit of Enterprise (SOE) Award Singapore Youth Award for Entrepreneurship 22

24 Strategy for Youth Entrepreneurship $25M Entrepreneurship Talent Development Fund (ETDF) to seed youth business ventures, and encourage entrepreneurship through learning by doing Initiation to Entrepreneurship Development of ideas Commercialisation of ideas support schools entrepreneurial learning activities support idea/project development support student ventures 23

25 YES! Schools Grant for schools to promote entrepreneurship among students and nurture budding young entrepreneurs through learning by doing Hands-on Learning Holistic Evaluation Criteria Reach Entrepreneurship & Innovation Entrepreneur Mentor 2008: Launch 2009: 31 schools, 6,000 students 2010: 41 schools, 8,000 students 24

26 YES! Schools Zhonghua Secondary School - Combines D&T with Entrepreneurship for 14 year-olds. - Students organised a Piece-it-Up: eco Zhonghua Exhibition with advice and support from IKEA Singapore, PICO Arts Pte Ltd and Design Rete to showcase their products created. Raffles Institution - Nine-month structured programme to instil entrepreneurship year old students designed a circular fridge to make retrieving items easier. Combines Lazy Susan and sliding door. - Approached Bosch to validate design. 25

27 Learn Entrepreneurship Develop Ideas Commercialise Ideas Probably the world s first business plan competition where youth participants start off with an idea and end with an innovative enterprise 26

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29 GIVE.sg In Vitro 28

30 YES! Startups Grant for youths to start their first innovative venture and learn entrepreneurship through learning by doing Eligibility (i) The Applicant Singaporean/PR, below 26 First time entrepreneur Key driver in the company. (ii) The Startup A new company Business activities based in Singapore Engage in value-add/high growth activities Innovativeness of business idea Commercial feasibility Evaluation Criteria Potential market 2008: Launch 2009: 41 startups, 65 youths 2010: 31 startups, 38 youths Management team First scholarship for young entrepreneurs to start their first innovative business. 29

31 YES! Startups FlickEvents is a onestop e-platform for easy event management and effective community engagement, providing a full suite of event management tools. Emeeto is a rich media service provider developed by Eme Tech, to facilitate online collaboration including communication, conference, coordination, knowledgesharing and entertainment. Zimplistic designs home appliances and is currently developing a chapatti-making appliance, which it intends to patent and license to major consumer electronics companies. 30

32 YES! Startups 31

33 YES! Startups 32

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35 Formation of New Companies and Businesses Year Company 19,501 21,491 25,904 24,988 24,341 Business 23,494 24,090 23,861 24,570 26,671 Total 42,995 45,581 49,765 49,558 51,012 34

36 SMEs in the Singapore economy 99% of all enterprises in Singapore are SMEs SMEs (99%) 168,000 Large Enterprises (1%) Number of Enterprises they employ 6 in 10 workers and contribute about half of total value-add SMEs (57%) Large Enterprises (43%) SMEs (51%) Large Enterprises (49%) 1.6 million $113 billion Number of Workers Value-Add* * Refers to value added at 2000 market prices Last updated: 10 March 2010 Source : DOS & SPRING 35

37 Enterprise Landscape in Singapore Large Companies (~1,400) $100m Small & Medium Enterprises (~30,000) $1m Micro-Enterprises (~110,000) Notes: The MSM Enterprises figures are SPRING s estimates based on DOS 2007 figure Includes both local and foreign enterprises 36

38 Learning Outcomes A set of key entrepreneurship attributes, with corresponding skill sets and outcomes. Provides a guide to progressively expose students to entrepreneurship, in accordance with their age and aptitude Three age groups 9 to 12 yrs old, yrs old & 17 yrs old and above Life Skills Entrepreneurship Mindset Character Development Relationship Management Business Skills & Technical Attributes of Entrepreneurs Understanding Value, Recognising Opportunity, Envisioning & Innovation Ethics & Passion / Perseverance Leadership / Teamwork, Customer Perspectives / Marketing & Communications Financial Acumen, Competitive Advantage & Risk Taking

39 Learning Outcomes 9 12 yrs old yrs old 17 yrs old & above Understanding Value Understand entrepreneurship as value creation Understand entrepreneurship as value creation / Understand different business models Understand entrepreneurship as value creation / Ability to formulate an appropriate business model Competitive Advantage Understand concept of competition / Ability to identify substitutes Understand concept of competitive advantage / Ability to identify substitutes & build on strength Understand barriers to entry and business differentiation