Singapore has been quoted by some as the ‘Silicon Valley of Asia’. Whether that’s a fair assessment or not – there is no question the startup scene in Singapore is bustling. With 5,650 startups as of last year, the country has gained a favorable reputation for its funding initiatives, availability of talent, and market reach. Additionally, VC funding reached the magic billion $ mark in 2015, a 64% increase from the year before, according to Singascape.org.
Still, some might find it odd that a CEO from Germany, land of automotive, would choose Singapore to launch his new SaaS solution. We sat down with Tobias Meister from aureso to ask the reasoning behind his choice.
5 reasons why CEO Tobias Meister chose Singapore for his revolutionary automotive solution.
1. The Asian Market
Specifically for aureso, the Asian market is ideal. In 2015, 48% of global new car sales came from Asia.’ It’s home to passionate car buyers who will benefit from the ease & convenience aureso’s retail platform brings. Additionally, Asians are very tech savvy. According to research conducted by ThinkNow Research and Sensis, Asian millennials index highest when it comes to owning common digital products. Our target audience are those who look forward to a more modern way of buying & owning cars – online & offline.
2. Secure Environment
Anyone who has traveled to Singapore knows how safe and secure the country is. It’s an ideal place to do business, as well as live, due to the trustworthy nature of people and governing bodies. It has continuously been named #1 for best quality of life in Asia and also ranks ninth in the United Nations Human Development Index of more than 180 countries.”
3. Efficient Administration
It only takes one trip through Changi Airport to get a feel for how efficiently things are done in Singapore. Processes are timely and administrative work is a breeze. For example, a business can be registered online in 15 minutes (open to both locals and foreigners) and only four documents are needed for the import / export of goods. Singapore has perhaps the most streamlined, efficient trade regulations in the world.”’
4. Smaller Automotive Retail Market
While some may look at smaller markets as a con, we find it the perfect opportunity to test bed our solution. Authorized automotive brands in Singapore have 3 to 4 dealers at most, which is much easier to manage in pilot; compared to somewhere like Malaysia, where one brand can boast more than 80 dealerships. Additionally, Singapore is known for its hard-working & dedicated workforce, meaning our SaaS solution will be tested with the very best people for trial runs, feedback, and long term implementation.
5. Market Reach
Singapore itself may be small, but its reach to neighboring countries is large & wide. Within a 3-4 hour plane ride you can reach the whole of Southeast Asia, and within 5-6 hours the entire Asia Pacific region. All of which hosts more than 4.2 billion people. The close proximity of countries makes it easy to network & do business with know-hows across industries. Meetings are equally easy to set, with last minute flights relatively inexpensive and only a hop, skip away. As we look forward to entering the Chinese market next, these factors will greatly benefit our working relationships & operations.
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