Support of government agency IMDA ensures city state’s strategic advantages can help innovative firms succeed across region and beyond
Singapore, with its dynamic digital economy and supportive business environment, has become a magnet for foreign technology start-ups and also serves as a strategic gateway to the fast-expanding markets of Southeast Asia.
The transformation of the city state and other countries among the 10-member Association of Southeast Asian Nations (Asean) bloc – which includes Indonesia, Malaysia, the Philippines, Thailand and Vietnam – was highlighted in the Global Innovation Index 2024, published by the World Intellectual Property Organization.
The latest edition of the index, which ranks the creativity of 133 of the world’s economies and the top 100 science and technology clusters, reveals the rapid progress of various Asean member nations over the past decade in advancing their innovation ecosystems.
It also makes special mention of Asean’s close regional integration and, importantly, vital cooperation in the areas of science, technology, intellectual property, and facilitating the free flow of information and investment capital.
