From smart cities to start-up hubs

In a commentary, SMU Professor of Organisational Behaviour & Human Resources Thomas Menkhoff noted that while Singapore is on track to becoming a good nation for start-ups, there are some hurdles to clear. Prof Menkhoff commented that an interesting element of the Singapore story is the city-state's transformation into a "smart" city – defined as a city where urbanites enjoy a high quality of life, good education, jobs, health, connectivity, security, mobility and so on, enabled by good governance and relevant technologies aimed at enhancing urban sustainable development. He noted that Singapore policymakers have leveraged on urban planning to encourage the development of new economic clusters, such as the development of LaunchPad @ one-north as a hub for start-ups. Prof Menkhoff also noted that a big hurdle in sustaining Singapore's ambition to become one of the world's most innovative smart cities is arguably its hierarchical culture. While Singapore is shifting gears towards a less hierarchical societal system, the fear of failure still deters many young Singaporeans from starting a company, despite new policy measures introduced recently (for instance, in higher education) to nurture creativity, entrepreneurship and new ventures.

Source
The Business Times