The Business Times
The Startup Cities Index found Singapore to have outperformed 84 of the 85 ranked cities in five areas – startup ecosystem, salary, social security and benefits, cost of living and quality of life.
James Tan, managing partner of venture capital firm Quest Ventures, didn’t buy all the findings. For starters, he said, the number of vacation days – one of three indicators of social security and benefits – are “irrelevant” to startups.
He said: “To founders, there is often no concept of weekends or public holidays. In comparison to their multinational corporation competitors, startups neither have the luxury of time nor money. So they need to move fast. If they work one Saturday more than the large companies, these startups would have done 20 per cent more work.”
James also added that safety, often overlooked for the sake of opportunity, ought to be a key driver for people. “Our multi-cultural, multilingual and multi-religion environment creates a comfortable base from which everyone from around the world should feel welcome to start the next big thing.”