Singapore
Singapore
Silicon Valley is synonymous to some of the world’s biggest tech names, so imagine the surprise when Singapore beat it to be the world’s best place for start-ups. In celebration of 52 years of success this August, here are some notable Singapore tech gamechangers that are helping cement Singapore’s position as a tech hub.
You know you’ve made it when fans are getting tattoos of your company logo. For Tan Min-Liang, this cult-like success with Razer is only achievable through the hyper-focused culture he has been building for the past 15 years.
Tan expects nothing less than perfection for his products, hence he scraps three out of four products that engineers worked on for years. While this may seem like a high pressure and overwhelming working environment, Razer is actually one of the best companies to work for in the tech industry. We’re sure the employee-oriented benefits such as free lunches don’t hurt either.
Although Razer’s breakthrough product was a gaming mouse, Tan shared that their ability to diversify into different aspects of gaming is why they are regarded as a “unicorn” (i.e. valued as US$1 billion). This ranges from gaming software, wearable technology and portable gaming laptops such as the Razer Blade. For Tan, life is just a game and pushes out products that incorporate some elements of gaming. This is a company made “for gamers, by gamers” after all.
What do e-commerce platform Shopee and League of Legends (LoL) have in common? They are products managed by Southeast Asia’s most valuable unicorn, Sea (previously named Garena). For founder Forrest Li, this success is the result of a business vision that aims at long-term sustainability.
Li frequently looks back to Steve Job’s Stanford commencement speech, which he attended, for motivation. And staying true to the now-famous quote “stay hungry, stay foolish”, Li continues pushing Sea into other ventures such as commerce and financial services. This is in addition to owning exclusive license for LoL. Li believes their business diversification is also what attracts other investors, allowing Sea to push into other future ventures.
As with most successful organisations, Li invests heavily in the right talent for the company. By maintaining and recruiting the right talents to fuel continuous innovation, Sea’s goal of retaining their unicorn status for another10 years might not be too far-fetched.
They say inspiration is all around us. Olivia Lum took this quite literally and turned the untreated watersurrounding water-scarce Singapore into a multi-million dollar business. Much of Hyflux’s success can be attributed to Lum’s entrepreneurial spirit.
Although founded as a company trading water treatment equipment, Lum recognised bigger business opportunities in manufacturing and bought the membrane technology in 1993. Today, membrane technology is synonymous with NEWater, Singapore’s solution to the scarcity of drinking water. Hyflux’s technology and services are also well sought after by countries facing water scarcity.
For Singaporeans hoping to either make a quick buck for their “pre-loved” items or declutter their homes, Carousell is a godsend. Quek Siu Rui with his partners Marcus Tan and Lucas Ngoo, Carousell has gone from a struggling start-up to one that just secured a US$35M Series B funding.
The founders believe a successful business can come from addressing problems with technology. This was very much the foundation for Carousell’s birth, enhancing convenience of existing consumer-to-consumer selling platforms in Singapore. In the next few years, the founders are focused on expanding Carousell’s reach into emerging markets in Southeast Asia.
Although Singapore’s position as a global tech hub may be attributed to pro-business policies and geographical advantage, successful local start-ups play a big role in cementing that status.
For more local inspiration throughout this month of August, follow our LinkedIn page here at Canon Singapore.