Singapore is an impressive country with only 5 million people, yet ranks 15th in terms of highest GDP per capita. With little natural resources to exploit, Singapore has had to rely on its only true resource – its people. With a strong emphasis on education and innovation, Singapore is quickly becoming a hotbed for start-ups. Even Facebook co-founder, Eduardo Saverin is living and investing in start-ups in Singapore.

In April, the Media Development Authority (MDA), SingTel Innov8 and National University of Singapore Enterprise (NUS) joined forces to establish a strategic incubation programme called Blk71. The programme is designed to allow start-ups to gain one-stop access to the resources they need to effectively develop and market their solutions to customers. Startups will receive up to S$50,000 of initial seed funding and opportunities for follow-on funding of S$200,000 or more.

To get more insight into MDA’s role, I talked with Michael Yap, Executive Director of IDM Programme Office hosted by MDA.

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Jason Lim

Jason is an Australian born Chinese living in Beijing, specializing in entrepreneurship, start-ups and the investment eco-system in China, especially in the tech and social area.