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Entrepreneurshipís importance in Singapore

by Ace Tutors (1960 views)
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Singapore is one of the easiest countries within the region to set up a company. We are considered a developed nation and how can we continue on our growth without ever being too dependent on foreign national companies? Imagine a major economic depression which will lead to mass lay off, how can we cushion the impact even before it happens? The Singapore government is doing a fairly good job and as always it can be better. I believe the answer lies therein Entrepreneurship. How can we encourage more entrepreneurship? Perhaps we could turn to our ally; Israel for some ideas. Israel is a Jewish state that is constantly under threat from their neighbours. Their neighbours have placed embargoes on them; therefore they have to be creative with their economy.

Education

Israel has 4 universities ranked in the top 200 universities in the world. Before innovation and entrepreneurship can take place one cannot deny the fact that a solid education is essential. Israeli companies and entities registered no less than 3,555 patents in the United States in 2014. The patents were from Israeli based companies in the US followed by Tel Aviv University’s research institutes and the Weizmann Institute.

Venture Capital Fund

There were a few venture capital fund created by the Israeli government. It provided not only funding but network and mentors that will guide the entrepreneurs to doing business or the process of designing or improving on their products.

Attitude

Israelis have a never give up attitude towards life; they deem it constructive failures or intelligent failures. Read about why failures are good for your child. One of the reasons Intel is still around producing chips was due to the Israelites. Throughout the history of modern computing, the speed of data processing – the time it takes for your computer to do anything was determined by the speed of a chip’s transistors. The transistors will flip on and off, and the order in which they did so produced a code. The quicker the transistors could be made to flip on and off, the more powerful the software could run. Back in the days when the faster the chip went, it also meant more energy were consumed, which resulted in more heat being produced. Chips overheating would soon become a critical issue as that meant the cooling fan have to be bigger and faster. This would not work with laptops as they are meant to be portable. They deem this the “power wall” problem. The Israel Intel team researched proves their point; “cornered” their executives in Santa Clara before then CEO Otellini finally changed his mind to go with the Israelis research to take a step back on creating more powerful chips that consumed more energy. They came up with what is known as the Centrino chip which was suitable for laptops. The never give up attitude and logic, they used to challenge their bosses for whatever is right is admirable. If it is based on logic and facts, the change brought about will be healthy for personal growth or even for the company. You could read more about where my ideas came from, from this free E Book titled Start up nation.

Conclusion

There are definitely pros and cons of being an employer or employee, I believe what matters is a solid foundation of academic knowledge. Once the roots are firm, the child will be free to explore the different aspect, in what they would like to achieve in their career life when they are an adult. Do let Ace Tutors play a part in finding you suitable Tutors to guide your child.