Singapore Earns 'Best Startup Environment in Asia' Accolade

27 Oct, 2023

Singapore Earns 'Best Startup Environment in Asia' Accolade

Singapore has been recognized as the leading startup business environment in Asia, securing this accolade in StartupBlink's Top 100 Countries Startup-Business Friendliness Index. Globally, Singapore holds the fourth position, following the United States, Australia, and the United Kingdom. Impressively, Singapore has risen by 43 spots in the rankings this year.

The assessment for the overall ranking is based on several key metrics, encompassing factors such as quality, quantity, and the overall business environment. The "quantity" category assesses the vibrancy of the startup ecosystem by quantifying the number of startups within the region. The "quality" score places emphasis on the achievements of the top-performing startups in the ecosystem.

Moreover, the "business environment" category takes into account broader aspects that impact the entire country, including national policies and legislation. The index also considers various parameters, such as internet speed, cost-effectiveness, freedom, research and development (R&D) investment, passport strength, payment infrastructure, and the presence of top universities in each location. This holistic evaluation provides a comprehensive understanding of a region's startup-friendliness and its conducive environment for entrepreneurial endeavors.