Economic Performance


       GDP (per capita)             

Singapore has the third highest per capita income in the world: 60. 688 Intl. $ (World Bank, 2011), for 2012 estimated $ 61.046 (IMF) (GDP per capita PPP.).

It is a no. 1 in the World Economic Forum’s The Global Enabling Trade Index.






Employment rate,

Unemployment rate




Employment rate:  66,6%

Unemployment rate in 2011: 2.1%,

in 2012: 1.95% (Trading Economics).










Existence of funding and financing instruments to support SMEs





The SME Management Action for Results (SMART) Initiative provides Singapore-based SMEs with consultancy advice and funding support to develop management systems and processes.

The Government offers loans, grants, tax incentives, equity financing and non-financial assistance to help start up the business. These programs can be used to develop new products, improve business processes, protect intellectual property, venture abroad, etc. (e.g. ACE Startups Grant, Business Challenge.)










Existence of comprehensive support networks for start-ups





Singapore’s Technology Transfer Network (TTN) comprises at least seven leading institutions co-operating on bolstering the commercialisation of intellectual property (IP) assets). The founding members of the TTN are Exploit Technologies Pte Ltd of the Agency for Science, Technology and Research (A*STAR), Nanyang Polytechnic, Nanyang Technopreneurship Center, Ngee Ann Polytechnic, Republic Polytechnic, Singapore Polytechnic and Temasek Polytechnic.


SPRING Singapore

SPRING Singapore is an agency under the Ministry of Trade and Industry responsible for helping Singapore enterprises grow and building trust in Singapore products and services. Within SPRING, there are several Centres of Innovation (COIs) to help SMEs enhance their technology innovation capabilities. These COIs are set up by SPRING in partnership with selected polytechnics and research institutes. The areas of focus of the “Centre of Innovation for Supply Chain Management” at the Republic Polytechnic are:

> Value-stream/chain mapping and analytics for business process improvements

> Process and automation simulation for logistics and supply chain scenarios

> Performance improvement through integration of mechanization, automation and
   human factors engineering

> Innovative developments from various engineering & technology disciplines for supply
   chain applications