Located at the heart of Dunearn Road, KAI Singapore stands as a sanctuary for mothers and babies, offering a unique blend of hospitality and wellness.

KAI was founded in November 2020 by Kevin Kwee, who stems from a diverse background in hospitality, retail, wholesale, and F&B. Recognising the multifaceted demands of the business, Kevin brings a wealth of experience in both hospitality and food manufacturing, essential for the intricate operations of KAI.

In particular, Kevin points out that the culinary experience at KAI distinguishes itself from traditional hotels. Operating on a unique rhythm, its kitchen orchestrates six meals a day, from breakfast to supper. Kevin also emphasises the importance of synchronised food delivery, aligning with the demanding operations required to cater to the needs of new mothers and their infants.

He adds that the inspiration behind KAI emerged from Kevin’s personal experience as a father of four. He believes in the crucial importance of the postpartum period for both the mother and the baby, and this conviction led to the creation of the first licensed premium confinement hotel in Singapore.

Guiding first-time parents through the daunting journey

According to Kevin, KAI differentiates itself from similar facilities in Asia, particularly in Korea, Taiwan, and China.

While acknowledging the common thread of pampering, Kevin emphasises KAI’s commitment to empowerment. He speaks of accommodating the diverse preferences and beliefs brought in by each customer — from when to introduce solids to sleep training methods — to ensure individualised care.

The inclusivity of KAI is highlighted by its clientele, having served 27 nationalities and counting. Separately, 55 per cent of its customers are Singaporeans.

The core of KAI’s empowerment lies in what Kevin terms the “50-25-25” approach. This structured program aims to motivate and encourage mothers through various stages of their postpartum journey. The initial 50 per cent focuses on breastfeeding encouragement and rest, emphasising the importance of intervals and alternative feeding techniques such as syringe and cup feeding.

The subsequent 25 per cent involves settling-in programs, tailored to both day and night routines. KAI acknowledges the challenges faced by first-time parents and provides a supportive environment, allowing mothers to simply press a call button for assistance should they be unable to handle fussy babies, eliminating any feelings of helplessness.

KAI also places a significant emphasis on breastfeeding, considering it a cornerstone of their approach to postpartum care.

Kevin delves into the science behind breastfeeding, outlining three crucial factors. Firstly, breastfeeding enhances the baby’s immune system. Secondly, it aids in postpartum weight loss for mothers.

Thirdly, Kevin highlights the lesser-known yet vital role of two hormones, oxytocin and prolactin, produced during breastfeeding. These hormones not only provide the energy for the demanding schedule of breastfeeding every three hours, but also contribute to the shrinking of the uterus to its original size within six weeks.

There’s a lot of science behind what we do, but basically, you only need two things: confidence and technique. The whole process can be quite daunting, especially for first-time parents, so we are helping to ease you in so you are not jumping into the deep end of the pool head-on.

– Kevin Kwee, founder of KAI Singapore

Through KAI, he aims to demystify the journey, providing mothers with the support and knowledge needed to navigate this crucial period.

A holistic approach to postpartum care

KAI elevates the postpartum experience with a range of spa and wellness services curated to aid mothers in their journey of rebalancing, restoring, and regaining strength and confidence.

From bengkong and postpartum wraps to lactation massages, the spa services at KAI are crafted to provide benefits such as improved blood circulation, reduced water retention, enhanced lactation support, and assistance in regaining pre-pregnancy figures.

Post-natal mothers find solace in advanced wellness solutions addressing concerns such as muscle toning, collagen production, and pelvic health. Specialised treatments target stubborn fat and excess skin, providing solutions for issues like incontinence due to aging or post-childbirth. KAI also integrates a scalp cleansing machine to tackle postpartum hair loss.

Kevin emphasises that these services are not exclusive to KAI’s guests — anyone can make an appointment to enjoy the facility’s comprehensive wellness program.

At the heart of KAI’s commitment is its expert care team, knowledgeable in various aspects of motherhood and newborn care. From addressing common issues like burping, diaper changes, and growth spurts to providing guidance on breastfeeding and postnatal recovery, the team’s expertise covers a wide spectrum of needs.

Dads are also encouraged to be an active part of the process, with KAI offering one-on-one lessons to teach them essential skills such as diaper changing, feeding, and bathing the baby. The team’s dedication extends beyond the typical 9-to-5, providing 24/7 expert care for both mothers and newborns.

With about 40 staff, KAI operates at a unique ratio of two staff per suite, far surpassing the hotel industry norm. Kevin stresses the complexity of caring for both mothers and babies, a task that requires a dedicated team working in unison.

It definitely takes a village to care for a baby and a recovering mother.

– Kevin Kwee, founder of KAI Singapore

The comprehensive care extends to an on-site central kitchen serving six meals daily, provision of baby essentials, spouse accommodation, daily herbal baths, light housekeeping, limousine service, postpartum exercises, in-house mummies workshops, and lactation consultations.

The average duration and pricing for a stay

At KAI, the journey begins even before birth with a unique offering – the prenatal retreat. As Kevin explains, this session delves into the intricacies of the upcoming birth journey.

Recognising the information overload in the digital age, KAI aims to provide expert insights, countering the contradictions often found online. It’s a personalised approach to equip mothers with the knowledge they need as they step into the transformative experience of childbirth.

Nestled within KAI are 18 suites, each a cocoon of comfort designed to cater to the needs of new mothers. These suites boast luxurious Egyptian cotton linens, a full-sized Bosch refrigerator, and modern bathrooms equipped with a Japanese-style wooden bucket for the daily warm herbal bath.

With four types of suites – Comfort, Deluxe, Premium, and 2-bedroom Connecting Premium Suites – prices for a seven-day stay range from S$7,800 to S$20,000. Meanwhile, a 28-day stay ranges from S$26,800 to S$68,000.

Kevin asserts that the KAI experience is not constrained by fixed durations, allowing mothers the flexibility to choose their stay. However, the norm tends to be around 28 days, a period deemed crucial for the recovery journey.

In China, they call it ‘small confinement’ and ‘big confinement’. Small confinement is 28 days and below, while big confinement is 42 days and above. For them, the longer the confinement, the better.

But when you go to Korea, the confinement period is typically two weeks. So why is there a difference in the recovery period? It’s bad business for us if we say you can recover in two weeks, but we have to be honest about it. We do believe it’s at least four weeks – first stage is rest, second stage is purge, third stage is adjust, and the fourth stage is to nourish.

– Kevin Kwee, founder of KAI Singapore

Championing nourishing food for wellness

KAI recognises the significance of proper nourishment, especially for breastfeeding mothers. Their six daily meals are meticulously curated by an in-house team of chefs, nutritionists, and Traditional Chinese Medicine (TCM) experts, designed to facilitate healing.

These meals will be promptly delivered to their suites. Alternatively, if guests prefer, they can choose to enjoy them at KAI’s in-house cafe, which also serves as a lounge area.

However, for those who opt for shorter stays, KAI offers the option to have their confinement meals delivered to their doorstep even after checking out.

In the food arena, KAI has also made its foray into producing its own line of baby food and castor sugar-free lactation cookies.

According to Kevin, he wants to shape a diverse taste profile for infants, fostering an adventurous palate that transcends the often-picky eating habits of children. The challenge, as Kevin identifies, lies in the blandness of many commercial baby foods, restrained by regulations that limit the use of salt and other seasoning.

KAI’s solution to this is a fusion of culinary techniques. By employing low-heat cooking, freezing, thawing, and re-cooking, KAI aims to maximise the extraction of the natural flavours of each ingredient and preserve its nutritional integrity.

As KAI continues to evolve its services, it redefines the narrative of postpartum care, standing as a testament to the transformative power of dedicated support during the delicate transition to motherhood. Each challenge, each innovation, and each nurturing gesture at KAI is a step toward reshaping the postpartum journey into a cherished, supported, and empowered experience.

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Embark on your startup journey with MAS-regulated ANEXT Bank, one of Singapore’s first digital banks for SMEs.

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Featured Image Credit: KAI Singapore

Also Read: Wonderbewbz: This S’pore startup turns your breast milk into powder by freeze-drying it 

In a world tethered to traditional career paths and societal expectations, Jane Tor has embarked on a unique journey that led her from the confines of an unfulfilling corporate career to a liberating digital nomad lifestyle.

Leaving behind a career as an insurance agent, the 31-year-old defied the conventional narrative and embraced a digital nomad lifestyle in the wake of personal challenges.

Jane’s decision to become a digital nomad was driven by a desire for healing amid a personal crisis.

After a two-year marriage with her airforce pilot husband ended, Jane found herself at a crossroads. Instead of succumbing to the heartbreak, the National University of Singapore (NUS) graduate chose to break free from the life she had meticulously built in Singapore.

“I was going through a divorce and couldn’t stand the thought of staying in Singapore – a place I was already planning to leave for some time. I didn’t pursue a digital nomad career but would say I became a Covid-born digital nomad,” Jane reflects.

It all started from an extended backpacking trip

In 2018, Jane bid farewell to her insurance job, which paid her a monthly salary of about S$7,000, and embarked on a journey that initially took her to China to explore its business landscape. However, fate had other plans.

In January 2020, as COVID-19 wreaked havoc across Asia and Europe, Jane found herself on a backpacking trip to Mexico trying to nurse a broken heart. What was meant to be a one-month escape evolved into a indefinite time of self-discovery.

A friend of mine told me about Workaway — it’s a volunteer platform where you can exchange hours of work for free room and board. I did it for seven months in order to travel for a longer period of time. 

It showed me a different way of travelling, one that is slow, and intentional. I met many travellers who’d been on the road for years and thought, ‘this is a life I could explore’.

– Jane Tor

Through Workaway, she did all sorts of work — she was a babysitter, worked in a hostel, and even helped restore an old Victorian home.

“I did many things I couldn’t have done in Singapore — lay bricks, mow the lawn, bring children for outdoor excursions, be a tour guide to other tourists in Albania, [and] cook for 10 British people on a Sunday roast night,” she added.

Through these “eye-opening” experiences, Jane said she managed to make many friends with fellow travellers as well as locals.

Navigating remote work and financial planning

Jane currently works as a freelance project manager, primarily working for a digital marketing agency based in Singapore, which allows her the flexibility to “slow travel” around the world.

The projects they assign me pay a decent income so I don’t need other freelance jobs, but I’ve been approached by a few companies to consider their remote roles. With my existing employer, we negotiated an arrangement so that I would come back to Singapore every few months just to bond with the team and synergise with everyone.

– Jane Tor

In the initial six months, she was offered a short contract to test the feasibility of remote work. It was agreed that Jane would return to Singapore every month for a few days to foster a strong connection with her team.

As the trial period proved successful, negotiations evolved, allowing Jane to return every few months instead of monthly. “To compensate for my efforts, my bosses even give me flight allowance, which I take as a sign of support,” she added.

However, the journey wasn’t without its challenges. Loneliness, a common struggle for digital nomads, was something Jane confronted head-on. Choosing personal freedom over the comfort of home, she learned to be comfortable with her own company.

The alienation from friends and the difficulty in relating to their goals and aspirations were also challenges, but Jane viewed it as a natural part of her evolving journey, letting go of what no longer served her.

Financial considerations also played a pivotal role in Jane’s transition. Despite accepting a 50 per cent pay cut from her previous salary as an insurance agent, Jane emphasises the importance of disposable income. “It’s all about making money work for you,” she asserts. This shift allowed her to spend less and invest more, aligning with her newfound lifestyle.

Financial planning became crucial for Jane, especially in the absence of Singapore’s Central Provident Fund (CPF), as she meticulously planned for medical expenses and a retirement fund.

Jane’s budgeting strategies are equally disciplined. With monthly expenses ranging from S$500 to S$1,500, she ensures a surplus for investments and supporting her parents.

I do earn more than S$3,500 now, so it means I have more than 50 per cent of my salary to invest and save. Again, it’s all about disposable income — increase it by spending less. Living expenses outside of Singapore can be very cheap. In Bali, I spend about S$500 to S$600 on expenses alone. Even in Italy, it’s only about S$900 to S$1,000 a month.

– Jane Tor

Maintaining work-life balance is also a challenge for many remote workers, but Jane tackles it by integrating her hobbies into her travel destinations. Choosing countries where she can pursue activities like free diving, kitesurfing, and hiking, she finds a balance between professional commitments and personal fulfilment. Joining local events and digital nomad groups also provides interaction and a sense of community while working on her own at home or in co-working spaces.

To date, Jane shared that she has travelled to more than 50 cities. She confessed that she has lost track as she “stopped counting” over time, adding that she much prefers beachside cities or towns.

“[My partner and I] usually pick places we can stay in for at least three months. Nowadays, our budget is a bit bigger so we can go anywhere, but we keep going back to places where we have friends so that we can build our communities anywhere we go.”

Her only regret is not starting earlier

Although the decision to embrace a nomadic lifestyle wasn’t without its challenges, Jane found unwavering support from her family, especially her parents. Since her departure in 2020, they have not only supported her decision, but actively participated in her journey.

I’m very grateful to have such wonderful parents, who aren’t easily influenced by our societal expectations of children.

They stayed with me in Croatia for a month, my mum in Italy for a month, my dad in Bali for a month, and the whole family including my brother and his girlfriend for two weeks in Thailand (Koh Phangan and Koh Tao). My family has always enjoyed traveling and after I started my digital nomad journey, my parents also embraced the idea of retiring outside of Singapore.

– Jane Tor

When asked if she had any personal reservations before embarking on this journey, Jane said that she tends not to look back after making a decision. Instead, she focuses on moving forward, looking for solutions that align with what she knows, what she doesn’t know, and what she wants to achieve. The result is a lifestyle she loves, free from the constraints of her previous existence.

Reflecting on her digital nomad journey thus far, Jane dismisses regrets, emphasising the right timing for her transformation. “I regret not embarking on this much earlier, but I know it happened at the right time,” she laughs. The lessons learned and the personal growth experienced on this journey fill her with gratitude and a deep appreciation for life’s richness.

The impact of being a digital nomad goes beyond professional flexibility. Jane sees it as a catalyst for personal growth, teaching her to be a better human. Breaking out of her comfort zone, she embraced experiences, recognising that each holds a valuable lesson, be it good or bad.

This journey is a “learning platform”, Jane declares. For her, every experience that contributes to personal growth is a triumph. This philosophy paved the way for her transformation into a digital nomad, seeking not just a change in scenery, but a profound shift in perspective.

Jane’s commitment to fostering a community for digital nomads and like-minded individuals is a testament to her desire to share the wealth of experiences. She has created a Telegram group chat called ‘Going Slow’, which is an avenue for people to find tips, meet up overseas, and offer support to others on their digital nomad journey.

“We’re also made up of slow travellers — people who are doing their sabbatical/gap year, so it’s not just digital nomads,” she explained. Most recently in November, the community has also launched a collection of travel stories on Instagram and TikTok.

In the spirit of adventure, Jane offers simple yet profound advice to those considering the digital nomad lifestyle.

Just do it. You will gain much insight and perspective into who you are, and that’s really just the start of something greater than you can imagine. Let the doors open to you, and let your feet pull you into the adventure. 

– Jane Tor

Featured Image Credit: Jane Tor

In the ever-evolving landscape of hybrid work, the quest for the perfect tools to amplify the work-from-home experience has become a mission for many. 

Having embraced the remote work lifestyle for the past three years since the onset of the COVID-19 pandemic, I’ve constantly sought ways to refine and optimise my home workspace. Recently, my quest led me to the BenQ GW3290QT, and so far, it has been a game-changer. 

The 32-inch monitor has emerged as a beacon of innovation, seamlessly bridging the gap between comfort, productivity, and eye health in the era of hybrid work. 

When I first unboxed the BenQ GW3290QT, its greyish-white aesthetic instantly caught my eye, exuding a minimalist charm that seamlessly blended with my Mac-centric setup. Little did I know that this monitor was about to redefine the way I approached work, especially during my late-night endeavours. 

As someone accustomed to long hours in front of a screen, the 2K QHD display, Eye-Care technology, and ergonomic design were more than welcome features. The monitor seemed tailor-made for individuals like me who find solace in the glow of their screens during deep work sessions. 

BenQ has a decade-long commitment to eye health

Being a self-proclaimed night owl, the Brightness Intelligence (BI) sensor and Eye-Care technology became my allies in the dark. The monitor delicately navigated the fine line between bright scenes and dark areas, ensuring a clear and vibrant display irrespective of the content on the screen. 

The BI sensor is akin to a digital chameleon, seamlessly adapting to my surroundings. It allowed the monitor to respond to changes in ambient light, creating an environment that reduced eye strain and alleviated the headaches that often accompany extended screen time.

Since 2010, BenQ has stood as a pioneer in championing eye health in monitor design. This commitment resonates through the integration of Eye-Care technology, a comprehensive suite of features dedicated to safeguarding eyes during prolonged screen exposure. 

From the soothing hues of Low Blue Light+ to Flicker Free technology, this monitor went above and beyond conventional displays to shield my vision. The TUV Rheinland certification served as a testament to its dedication to being truly friendly to the human eye – a fact that held profound significance for someone like me with poor eye health. 

Effortless mode switching with buttons at your fingertips

For Mac users like myself, the M-Book mode is a stroke of genius. This feature minimises visual differences when connected to a MacBook, ensuring a harmonious visual experience across devices. 

In that same vein, the Coding Mode is a visual symphony for developers and analysts – it’s a ‘secret sauce’ that transforms your screen into a canvas where every colour pops. By optimising contrast and saturation for dark mode, the GW3290QT becomes an invaluable asset during programming or trading work, where visual clarity is paramount. 

Additionally, navigating between modes shouldn’t be a hassle, and the GW3290QT understands this well. Conveniently-placed buttons make switching between M-Book mode, Coding Mode, and other functionalities a breeze. It’s a testament to user-friendly design, ensuring that the monitor effortlessly adapts to the rhythm of your work, whatever that may be. 

Beyond its intelligent modes, the GW3290QT shines in its ergonomic design. Imagine a monitor that bends to your will – height, tilt, pivot, and swivel – all customisable to create the ideal user environment. This isn’t just about aesthetics; it’s about creating a workspace that not only looks good, but feels good too. 

One standout feature is the ability to switch to a vertical screen, commonly known as Portrait mode, which is ideally suited for its 27-inch variant, the GW2790QT. This isn’t a mere gimmick – it’s a game-changer, especially for tasks like coding and reading reports. 

Enhancing productivity and communication 

The 2K QHD resolution on the GW3290QT isn’t just a specification – it’s a gateway to a world where details reign supreme, even in the confines of smaller fonts. Whether you’re meticulously working on projects, enjoying leisure activities, or immersing yourself in videos, the display ensures a stunning visual experience marked by clarity and vividness. 

For those of us who thrive in the world of multitasking, the GW3290Q’s expansive screen real estate becomes a canvas for toggling among multiple windows and tabs effortlessly. It’s not just about getting the job done; it’s about doing it with ease and efficiency. 

Thanks to the ingenious trick of daisy-chaining monitors, I can also enjoy a clutter-free workspace. The GW3290QT embraces this concept, allowing users to connect multiple monitors seamlessly. The pivot rotation feature adds a layer of customisation, perfect for those marathon work sessions where adaptability is key. 

Furthermore, meetings are the heartbeat of remote collaboration, and the GW3290QT ensures they resonate with clarity. The Noise Filter speakers and Noise Cancellation microphones redefine audio quality. Built-in speakers intelligently reduce background noise, presenting clear vocals that enhance communication dynamics during virtual meetings. 

The integrated Noise Cancellation microphone takes communication to another level. It doesn’t just transmit your voice; it filters ambient sounds in your environment, accentuating crucial vocal cues. In a world where virtual meetings are the norm, this feature becomes a valuable asset for fostering clear and focused communication. 

One cable to rule them all 

With GW3290QT, I can bid farewell to cable chaos as it introduces the USB-C cable as the hero of connectivity. This single cable not only links your laptop to the monitor, but also serves as a power hub. 

Lightning-fast data transfer becomes a given, accompanied by the delivery of a robust 65W of power to keep my laptop charged and ready. This is revolutionary, as it simplifies my setup and eliminates the need for a multitude of cables. 

I can also get rid of the cable clutter with the integrated USB hub, making me wonder why I didn’t make this upgrade sooner. The USB-C and USB-A ports became my allies, offering a seamless connection for power, video, audio, and data. 

The GC01 base cover, though sold separately, is a thoughtful addition. It serves as the perfect organiser, tidying up my cables and providing a dedicated space for my mobile phone and stationery. 

Ultimately, the BenQ GW3290QT isn’t just a monitor; it has been a catalyst for transformation in my work-from-home journey. Priced at S$639 for the 32-inch variant and S$479 for the 27-inch, it’s not just an investment in a monitor – it’s also an investment in comfort, efficiency, and eye health. 

If you also find yourself immersed in work for extended hours, yearning for a clutter-free workspace, and demanding instant connectivity, the GW3290QT is a no-brainer and will definitely make a perfect addition to your workspace. 

This article was written in collaboration with BenQ.

Featured Image Credit: Vulcan Post

In a resilient move amid a global funding downturn, Doctor Anywhere (DA), a tech-led healthcare company headquartered in Singapore, has successfully closed a US$40.8 million Series C1 extension round. The funding round saw participation from prominent investors such as Square Peg and Novo Holdings.

The additional capital injection is slated to accelerate next-generation healthcare innovation within the company and strengthen its presence in secondary care.

Doctor Anywhere aims to intensify efforts in product innovation, building a vertically integrated digital healthcare ecosystem to meet the growing demand for comprehensive and connected healthcare solutions that prioritise patient experiences and outcomes.

Despite challenging market conditions, the company’s robust performance and business model have attracted significant investment. Doctor Anywhere’s impressive growth has been fuelled by rapid customer acquisition, continuous product innovation, regional expansion initiatives, and the recent acquisition of specialist healthcare group Asian Healthcare Specialists.

These milestones have firmly positioned DA as a key player in the healthcare sector, poised to shape the future of healthcare in the region.

Tushar Roy, Partner at Square Peg, emphasised the firm’s confidence in Doctor Anywhere’s growth trajectory, stating, “Our continued investment underscores our strong conviction in DA’s growth trajectory and its emergence as the dominant digital health platform across South East Asia.”

Empowering users to take charge of their health

Founder and CEO of Doctor Anywhere, Lim Wai Mun, expressed excitement about the possibilities that generative artificial intelligence (AI) offers to advance their goal of empowering individuals to take charge of their health and well-being.

He noted, “In the next phase of Southeast Asia’s healthcare evolution, our goal is to empower individuals to take charge of their health and well-being with early detection and preventive measures against chronic illnesses.”

Dr. Amit Kakar, Senior Partner and Head of Novo Holdings Asia, highlighted their commitment to fostering personalised and intuitive healthcare experiences that lead to better health outcomes. He stated, “Our investment in Doctor Anywhere reflects our commitment to fostering personalised and intuitive healthcare experiences that result in better health outcomes. We firmly support the company’s vision to deliver patient-centric care through innovative technology.”

Doctor Anywhere has set itself apart with a tech-driven approach, leading to innovations like the industry’s first online supervised tele-antigen rapid testing (ART) service.

Building on this foundation, the company aims to introduce new service offerings, strengthen strategic partnerships, and explore acquisition opportunities to comprehensively fulfil and empower individuals’ healthcare needs throughout their health journey.

Featured Image Credit: Doctor Anywhere

In a move aimed at advancing financial well-being for specific community groups, Temasek Trust, the philanthropic steward and ecosystem-builder, has signed an Expression of Interest with NTUC Enterprise Co-operative Limited to explore the acquisition of MoneyOwl.

MoneyOwl, established in 2018 as an NTUC social enterprise, combines human expertise with digital platforms to deliver comprehensive financial planning services, insurance, investments, and will writing.

However, following a joint review with NTUC Enterprise, it was announced on August 31 that MoneyOwl would wind down its financial advisory business and transfer its investment and insurance services to iFAST by the end of the year, citing commercial viability concerns.

Chuin Ting Weber, CEO and Chief Investment Officer of MoneyOwl, explained that the repurposed MoneyOwl, under Temasek Trust, will focus on driving the common good, moving away from the direct retail sale of commercial products.

Temasek Trust aims to repurpose MoneyOwl’s capabilities, intellectual property, and technology platforms to develop targeted products and solutions for essential workers, gig workers, and youths. The catalytic capital approach will be employed to de-risk the new business model and attract partners from the public, private, and philanthropic sectors.

The proposed acquisition is currently pending regulatory approval. Desmond Kuek, CEO of Temasek Trust, expressed alignment between MoneyOwl’s mission and Temasek Trust’s goals of uplifting communities through education and advancing progress.

While some services, like Comprehensive Financial Planning, will be paused for a refresh, MoneyOwl will continue providing its free digital Will-Writing service, online educational content, and Corporate Financial Wellness programs on a case-by-case basis.

The proposed acquisition signals a new chapter for MoneyOwl, contributing to the overarching mission of fostering financial well-being in the community.

Featured Image Credit: Temasek Trust / MoneyOwl

In the digital age, small and medium-sized enterprises (SMEs) find themselves at the crossroads of abundant opportunities, propelled by the accessibility of diverse digital payments and online marketplaces. 

While these avenues promise growth, the sheer volume of options can overwhelm businesses, leading to a growing need for streamlined processes. Amid this landscape, financial institutions have a unique opportunity to collaborate with platform providers to integrate payments seamlessly within their ecosystems. 

This shift towards embedded finance (EmFi) not only facilitates frictionless transactions, but also paves the way for continued expansion and success for business. 

Essentially, rather than traditional standalone offerings, EmFi seamlessly integrates financial tools and services into non-financial platforms. This integration enables businesses to access financial services directly within the platforms they use daily, ranging from e-commerce and payment gateways, to ride-hailing and social media apps. 

The enormity of this opportunity is underscored by Ernst & Young’s projection that the market size for global EmFi across the entire value chain will rise substantially from US$264 billion in 2021 to touch US$606 billion by 2025. 

SEA’s digital landscape is bringing rise to EmFi

Asia, with its dynamic economies and rapid digital adoption, is a hotbed for EmFi. 

Southeast Asia (SEA) in particular, is home to an estimated 400 million Internet users in 2023. The region’s adoption of mobile apps is among the most enthusiastic globally, with an increasing number of users leveraging digital platforms for various services. 

Furthermore, big tech companies in SEA are expanding their influence by offering “super apps”, all-in-one mobile apps that offer a multitude of services.

Take Grab as an example — it was initially established as a ride-hailing service, but has expanded its offerings to include food delivery. The platform seamlessly integrates financial services like payments, insurance, investments, loans, and credit within its app structure. This integrated approach allows users to purchase and utilise various financial products without leaving the Grab ecosystem.

This shift towards comprehensive digital ecosystems naturally paves the way for the rise of EmFi, as users increasingly expect financial solutions to be an integral part of the broader digital services offered by these super apps.

One of the most significant impacts of EmFi in SEA is its role in promoting financial inclusion, particularly in emerging markets where individuals and small businesses face multiple barriers to accessing basic financial services. 

According to the World Bank, nearly 49 per cent of adults in Indonesia and the Philippines do not have formal bank accounts, double the global average of 24 per cent. This unbanked population presents a crucial target market for financial institutions, especially as their wealth and education levels improve. 

In Indonesia, a staggering 44 per cent of SMEs lacked access to financing in 2011, primarily due to insufficient availability of funds. Meanwhile, in 2013, 40 per cent of SMEs in Singapore avoided bank loans due to delayed payments and cash flow challenges. 

Then in 2014, 58 per cent of SMEs in Malaysia did not apply for financing due to inaccessibility and an information gap. That same year in the Philippines, 60 per cent of SMEs sought alternative funding sources. 

Additionally, 58 per cent of SMEs in Thailand had no access to financing due to ineligibility to borrow from financial institutions. 

Given SEA’s young and aspiring population, rapid digital maturity, and new ways of consuming financial services, the region holds much promise for EmFi development. 

Players leading EmFi in the region

Several companies in the region are already capitalising on the potential of EmFi. 

For example, Cake by VPBank, a digital bank in Vietnam, offers its customers the ability to link their Cake account to other digital wallets and e-commerce platforms, as well as ride-hailing service Be. 

This seamless integration allows users to access a spectrum of financial and non-financial services effortlessly. 

Similarly, UNOBank in the Philippines offers a range of digital banking and lending services to customers. Through a partnership with AI-led fintech Trusting Social, UNOBank which leverages access to telco data to provide credit assessments for consumers who would otherwise struggle to access formal credit. 

UNOBank’s integration of financial services into its platform not only enhances accessibility, but also demonstrates the transformative impact of EmFi on financial inclusion. 

Bank INA, a digital bank in Indonesia, is another example of a company that has successfully utilised EmFi by establishing partnerships with various non-financial platforms. 

Collaborations with ride-hailing and e-commerce platforms enable it to offer customers a suite of financial services, including loans, savings accounts, and insurance products. This approach capitalises on the vast user base of non-financial platforms, bringing financial services directly to those who may not have engaged with traditional banking channels. 

ANEXT Bank — a wholly-owned subsidiary of Ant International — is another significant player in the EmFi landscape, standing out for its collaborative model. 

Unlike some providers that build standalone solutions, ANEXT Bank focuses on enabling existing platforms to deliver EmFi through its ANEXT Programme for Industry Specialists (APIs). This enables platforms to develop new business and revenue opportunities, while enabling financing solutions to be delivered to SMEs where they are currently doing business at.

This difference allows for a more expansive network of partners which enables the bank to anticipate and deliver financial services to SMEs, especially micro and growing businesses, in an intuitive and timely manner.

The future of financial services in Asia

EmFi is ushering a new era of financial services in Asia, challenging traditional models and empowering businesses of all sizes. 

The implications of EmFi for businesses in Asia are profound. With the collaborative model championed by ANEXT Bank and others, barriers to accessing financial services are significantly reduced. 

Startups can now leverage the EmFi framework to streamline their operations, access financing more readily, and unlock new revenue opportunities. For small businesses, the integration of financial services into daily operations translates into increased efficiency and a smoother financial management process. 

Looking ahead, the future of financial services in Asia is intricately tied to the growth of EmFi. As tech continues to advance, the integration of financial tools into non-financial platforms is expected to become even more seamless. 

This evolution not only provides a lifeline for startups and small businesses, but also contributes to the democratisation of financial services, promoting inclusivity and accessibility across diverse sectors of the economy. 

As the region continues to embrace this transformative trend, the future holds promising prospects for startups, small businesses, and the broader financial landscape in Asia. 

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ANEXT Bank, a Singapore-based digital bank regulated by MAS, empowers startups with easy and accessible financing to fuel their business growth and expansion.

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Featured Image Credit: ETBFSI Research

Also Read: Why S’pore makes an ideal launchpad for startups to launch a business before going global 

A month after its co-founder, Derek Ong, tragically passed away, homegrown hospitality group Tipsy Collective finds itself at a crossroads. 

The loss of a visionary leader, at the young age of 35, has cast a shadow of uncertainty over the group’s future. Derek and his close friend, David Gan, co-founded Tipsy Collective in 2018, and the launch of their highly-anticipated project were abruptly delayed by this unforeseen tragedy. 

In an interview with Vulcan Post, David emphasised the impact of losing a key team member, but also highlighted their commitment to growth. In fact, the loss of Derek has inspired the group to redouble their efforts to honour his memory by carrying on their mission. 

The story of Tipsy Collective illustrates that life can throw unexpected curveballs. This may not only pertain to the loss of a loved one, but also the potential loss of mental capacity, which can happen due to accidents, and medical conditions such as dementia. 

This additional layer of unpredictability underscores the importance of comprehensive planning, including tools like Lasting Power of Attorney (LPA) and Advance Care Planning (ACP). They play a crucial role in safeguarding one’s assets and well-being in the face of unforeseen circumstances like mental capacity loss. 

Just as Tipsy Collective must adapt and plan for the future without Derek, individuals should also plan for their own futures to prepare for life’s uncertainties. 

What is LPA and ACP?

An LPA is a legal document that empowers you to appoint one or more trusted individuals, also known as Donees, to make financial and welfare decisions on your behalf in the event that you become mentally incapacitated. 

This proactive step ensures that your hard-earned assets are managed according to your wishes even when you are unable to make decisions yourself.

Your Donee, often a family member or close friend, can assist in managing your care matters, investments, paying bills, and handling various financial transactions during this challenging period. 

Without an LPA in place, your loved ones may have to go through a time-consuming and expensive process to obtain a court order granting them legal authority as a deputy to manage your matters for you.  

This deputyship order enables the court to intervene in situations requiring crucial decisions when your capacity to make them has been compromised, and there is no pre-appointed individual (ie. Donee in the LPA) to act on your behalf. 

When this court order is granted, it empowers the deputy with the authority to make decisions in your stead, ensuring that essential matters are addressed even when you cannot personally participate in the decision-making process.

As such, making an LPA in advance is the best form of protection. 

While LPA focuses on giving the legal authority to your trusted person to make legal decisions on your behalf, ACP encompasses a broader spectrum of your values, preferences and decisions related to your care and well-being in the event of mental incapacity. This can include your desired treatment options for palliative care, medical interventions, and considerations regarding your quality of life. 

When you make an ACP, you can appoint up to two persons to be your Nominated Healthcare Spokesperson(s). 

Such planning allows you to communicate your values and preferred medical treatments, reducing potential conflicts among family members and ensuring that you receive the care you would want. 

ACP not only guides your loved ones in making difficult medical decisions, but also maintains your dignity and autonomy, even when you cannot directly express your wishes. 

How to mitigate these risks?

Without a proper plan in place, the functioning and growth of a business can be seriously jeopardised. 

An LPA guarantees that a trusted representative can seamlessly manage business affairs if the owner becomes incapacitated, preserving business interests. 

Additionally, ACP indirectly supports the protection of one’s business endeavours by addressing personal welfare matters, reducing the potential for unexpected health-related disruptions to business leadership. 

By establishing both an LPA and ACP, you are not only shielding yourself from potential financial risks, but also securing the stability of your business ventures. This holistic approach is essential to ensure a smoother transition and minimise potential negative impacts in such situations.

Furthermore, one common misconception is that a will is the only document necessary to ensure one’s affairs are in order. Many believe that if they have a will in place, it adequately covers all aspects of their financial and medical decisions. 

However, it’s essential to recognise that a will and an LPA serve distinct roles in safeguarding your interests during different stages of your life. 

A will exclusively takes effect after an individual’s death, governing the distribution of assets and estate. Conversely, an LPA becomes operative only when an individual loses mental capacity, enabling Donee(s) to make decisions for the individual in his/her personal welfare as well as property and affairs matters. 

If you possess a will but neglect to create an LPA, you forfeit control over the choice of person whom you trust to handle your matters should you lose mental capacity. This is because the will exclusively addresses post-mortem matters and does not extend to incapacity scenarios.

Conversely, if you establish an LPA but forgo creating a will, you cannot provide customised instructions for asset distribution upon your demise. The LPA exclusively functions in situations where mental capacity is lost. 

Take charge of tomorrow 

The importance of preparing for mental incapacity cannot be emphasised enough. Planning for the unexpected is not just a sound financial strategy – it’s a demonstration of prudence, responsibility, and care for oneself and one’s loved ones. 

While the possible loss of mental capacity is undoubtedly a sensitive and often considered a “taboo” topic, it is necessary to have conversations about planning ahead with your loved ones. If you’re unsure about where to start, here’s a guide that you can reference to get the conversation going. 

The complexities of today’s financial landscapes make it essential to have a strategy in place to protect your interests. LPA and ACP are more than just legal formalities – they are tools that empower you to have a say in your financial and welfare matters, even when you are unable to articulate your desires. 

Ultimately, comprehensive financial planning extends beyond investments and wealth accumulation. It includes safeguarding your assets and expressing your wishes for medical treatment in the event of mental incapacity. 

Take control of your future and provide your loved ones with the Gift of Certainty and peace of mind. To find out more about LPA and ACP, and how to apply for them, you can also check out this website.

This article was written in collaboration with My Legacy.

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Charge+, the largest electric vehicle (EV) charging operator in Singapore, is set to accelerate the expansion of its EV charging infrastructure throughout Southeast Asia after securing a Series A funding round.

The undisclosed investment was led by TRIVE Venture Capital, a Singapore-based firm focused on early-stage high-growth technology companies with positive impact outcomes.

Charge+ currently boasts over 1,000 EV charging points distributed across various facility types in Singapore. These charging stations are strategically located in public housing, condominiums, shopping malls, commercial buildings, and industrial facilities.

The company is known for its proprietary charger design, which is the world’s slimmest EV charger and features a dual-connector configuration to enhance usability.

To deploy more EV chargers in Singapore and beyond

The Series A financing marks a pivotal milestone in Charge+’s journey and supports the company’s strong growth trajectory not only in Singapore, but also throughout Southeast Asia.

The funding raised will be pivotal in achieving two primary objectives. Firstly, Charge+ will fulfil an ongoing tender contract awarded by the Singapore Land Transport Authority (LTA) to provide approximately 4,000 EV charging points in the carparks of Housing Development Board (HDB) public housing estates.

Secondly, the company will embark on an ambitious project to create a 5,000km EV charging highway spanning five Southeast Asian countries. This expansive network is set to become the longest EV charging backbone in the region.

Charge+ has been growing rapidly across Southeast Asia, with EV charging operations now established in Malaysia, Thailand, Vietnam, Indonesia, and Cambodia. Their long-term goal is to deploy 30,000 EV charging points globally by 2030 and contribute significantly to the advancement of electric mobility in the region.

In addition to expanding its own charging infrastructure, Charge+ will collaborate with other regional EV charging operators to leverage its proprietary mobile application, creating a seamless network.

Roaming agreements have already been signed with Malaysia’s Tenaga Nasional Berhad (TNB), Thailand’s Electricity Generating Authority of Thailand (EGAT), and Indonesia’s PT PLN. These agreements will allow Charge+ app users to conveniently access a wider pool of EV chargers in the respective countries.

Ong Tze Boon, Chairman of Charge+, expressed his satisfaction with the partnership with TRIVE and the vision they share: “Since founding Charge+ in 2018, our vision has been to catalyse electric mobility adoption across Southeast Asia. We are, therefore, pleased to have partnered with TRIVE, an ideal investor to lead this Series A and provide the foundation for our next phase of expansion.”

Following this investment, Christopher Quek, Managing Partner of TRIVE, will join Charge+’s board to support the company’s development and growth.

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In a world plagued by mounting food waste and environmental concerns, Dr. Kwan Lui – a visionary entrepreneur and the founder of WellSpent Upcycling – has been working tirelessly to address these pressing issues through culinary innovation and sustainable practices. 

As the director of At-Sunrice GlobalChef Academy, Dr. Lui’s journey in the world of gastronomy first began in 2001. Armed with an impressive educational background, including a Master’s in Communication and Development and an honorary doctorate in Education Leadership, she set out to make a difference. 

A year later after At-Sunrice’s establishment, the seeds of WellSpent were sown. The spark that ignited this groundbreaking business idea came when Dr. Lui attended the WorldChefs Congress in Greece back in 2017. 

A keynote speech by Professor Herve This on breaking down farm vegetables into compounds to reduce spoilage waste and increase yield resonated deeply with Dr. Lui. She then saw an opportunity to apply this concept to other food streams and create sustainable, upcycled food products. 

Turning food waste into valuable ingredients

WellSpent, a subsidiary of At-Sunrice GlobalChef Academy, was officially founded in 2022 with a core mission to revolutionise the food industry. 

We are the creators of sustainable and innovative food products and solutions that are derived from spent ingredients. By upcycling discarded food parts that are rich in nutrition, we bring food that not only tastes great, but is also good for the gut and extremely kind to the planet we all live in. 

Beyond connecting with businesses to provide spent solutions, innovation in labs and facilitate spent exchange, we are also serving consumers with our packaged snacks, retail concepts, and other food products.

– Dr. Kwan Lui, founder of WellSpent Upcycling

By reimagining sidestreams from food production that are typically discarded, WellSpent contributes to a circular economy, where waste is regenerated into valuable ingredients used back in the food production process. 

Dr. Lui observed that Singapore, being a land-scarce non-agricultural nation, faces unique challenges related to food waste. With the majority of its food being imported, the country’s food production and manufacturing processes generate substantial sidestreams daily. This makes the work of WellSpent even more crucial in tackling the issue of food waste and promoting sustainability in the nation. 

One of the initial challenges faced by WellSpent was convincing suppliers to provide food waste for their upcycling efforts. Many were sceptical and uninterested at first, but being affiliated with At-Sunrice GlobalChef Academy – a respected culinary institution – played a significant role in gaining support. 

Over time, WellSpent demonstrated the potential of their upcycled food products, gradually winning over more partners and suppliers. They make it a point to source discarded food parts from reputable food production companies, ensuring quality and safety in their ingredients. 

Transforming food waste into safe and delectable meals initially took two years of research and development. However, with WellSpent’s culinary expertise and continuous innovation, this process has become much faster. 

“There’s continuous R&D capability and we taste-test continually with about 200 students who are on campus daily,” remarked Dr. Lui. 

She went on to identify a range of readily available sidestreams, such as eggshells, orange peels, coffee ground, tea ground, soya pulp, prawn shells, and defatted coconut spent. 

From these sidestreams, they create an array of food products, including eggshell sea salt, orange peel marmalade, coffee and tea spent cookies, cakes, bread, noodles, spice paste, coating mix, and more. 

Upcycled ingredients can also be turned into gourmet meals

Although misconceptions and resistance are common, WellSpent addresses these by offering samples and showcasing the delicious and nutritious results of their upcycling process. 

To promote the adoption of upcycled foods, WellSpent introduced “WellSpent Evening”, where they present fine-dining experiences with each dish incorporating their upcycled ingredients. 

These events have evolved into “Sunday Luxe” since 2022 – which takes place on the second and fourth Sundays of each month – offering a produce market, cooking classes, workshops and more, encouraging diners to experience the sustainability-driven culinary delights. 

In June last year, WellSpent also hosted a fundraising gala dinner, where DBS was one of the donors. 

The unique aspect of the event was that the menu incorporated some of the spent ingredients. Several DBS executives who were present were impressed by this innovative approach, and DBS Foundation later approached WellSpent to apply for their grant. 

Seizing the opportunity, WellSpent presented their Orange Peel Marmalade, which became a stepping stone for a fruitful partnership. 

According to Dr. Lui, the funds received from DBS Foundation were put to good use, fuelling market research and recipe development. 

For one, their Orange Peel Marmalade has been transformed into Orange Peel Magic with versatile applications, including making drinks at their bar, OPM Den. Unsurprisingly, the product has been named the winner for the DBS Sustainability award. 

DBS Foundation has been most encouraging. They conduct the DBS Done-in-a-Day programme, where DBS marketing and professional staff help us to crystallise our marketing strategy, distribution channels and target profiling. Recently, they also invited our team to attend a workshop to better measure social impact.

– Dr. Kwan Lui, founder of WellSpent Upcycling

She also lamented that WellSpent has faced numerous challenges over the years, primarily centred around lack of awareness, insufficient marketing resources, and the reluctance of consumers and government agencies to embrace upcycled food. 

Furthermore, the cost to upcycle is also much higher as the supply chain is in its infancy stage. 

Through DBS Foundation’s backing, WellSpent found a breakthrough by providing corporate catering for DBS events via WellSpent’s Gourmet2Go platform. Notably, Gourmet2Go is Singapore’s first and only upcycled food platform, representing a business opportunity that aligns with food sustainability initiatives. 

“Now, government agencies, schools, and corporations are more receptive to buying our products or trying our cooking classes with a sustainability theme,” said Dr. Lui. 

The collaboration with DBS Foundation has been a game-changer for WellSpent. Not only has it provided essential resources, but it has also added credibility to their mission. 

Being endorsed by Singapore’s biggest bank and the world’s leading sustainability bank, DBS has opened doors to more spent suppliers, further amplifying the impact of WellSpent’s work. 

Based on their experience, WellSpent wholeheartedly recommends DBS Foundation to other social enterprises and small and medium-sized businesses as the collaboration has significantly boosted their business, offering both tangible and intangible benefits. 

DBS Foundation’s commitment to the success of its award winners demonstrates their genuine passion for driving positive change, which Dr. Lui finds “heartwarming”.

With a focus on upcycling and sustainability, WellSpent has been able to transform challenges into opportunities and drive meaningful change in the fight against food waste. Thanks to DBS Foundation, WellSpent continues to expand its impact, leaving a lasting legacy of sustainability for future generations. 

Reshaping the future of food with sustainable solutions 

While COVID-19 posed challenges for At-Sunrice’s core training business, the pandemic led to the birth of their “Covid baby”, the WellSpent division. Shifting focus and resources to upcycling proved to be a strategic move, opening up new possibilities during challenging times. 

Their sales had grown 96 per cent year-on-year from FY2021 to FY2022, and an additional nine per cent from FY2022 to the first six months of 2023. Meanwhile, its net profit surged by 161 per cent from FY2021 to FY2022, and a further 56 per cent from FY2022 to FY2023. 

Looking ahead, Dr. Lui envisions a promising future for upcycled foods, noting that recent scientific validations on the health benefits of consuming high-fibre foods are further propelling WellSpent’s mission. 

Driven by the belief that upcycled foods are tasty, gut-friendly and environmentally-conscious, she is optimistic about the tremendous potential of this business. 

With plans to work with original equipment manufacturers (OEMs) to scale their products and services, WellSpent continues to make strides in building a sustainable future for the food industry. 

Dr. Lui’s passion and dedication, combined with the support of DBS Foundation, have allowed WellSpent Upcycling to lead the charge in transforming food waste into delightful and responsible culinary experiences, making the world a better place, one meal at a time. 

If you are keen to find out more about DBS Foundation and join its growing community of impact-driven businesses, check out its page here. 

This article was written in collaboration with DBS Foundation.

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Launching a startup is a thrilling yet challenging endeavour that involves countless decisions, one of the most critical being the location to kickstart your business. 

Selecting the right location for your startup can significantly impact its success. Entrepreneurs need to consider various factors, such as economic stability, regulatory environment, access to talent, and market opportunities. 

In recent years, Singapore has emerged as a top choice for entrepreneurs looking to establish their companies before venturing into the global arena. Here are some key reasons why the city-state has garnered attention and acclaim for its attributes that make it a prime choice for startups: 

1. Economic stability and robust infrastructure

Singapore boasts an exemplary record of economic stability. Even during times of global economic turbulence, it has managed to maintain its financial equilibrium. Its well-diversified economy is less susceptible to extreme fluctuations, and the government’s prudent fiscal policies provide a safety net that shields businesses from severe economic shocks. 

Furthermore, Singapore consistently ranks among the least corrupt nations globally, according to the Transparency International Corruption Perceptions Index. This transparency and absence of corruption create a level playing field for startups, ensuring that success is determined by merit and innovation, rather than by navigating a corrupt environment. 

Additionally, Singapore’s infrastructure is renowned for its efficiency and connectivity. Its strategic location as a maritime and aviation hub makes it an ideal base for businesses looking to move goods and people across borders. In fact, the Changi Airport and the Port of Singapore are among the busiest and most advanced in the world, facilitating seamless trade and travel. 

Singapore is also committed to becoming a smart city, with initiatives focused on enhancing sustainability, efficiency, and quality of life. This commitment extends to supporting businesses that align with smart city goals, making it an attractive destination for startups in sectors like clean energy, urban mobility, and Internet of Things (IoT) technology. 

2. Pro-business policies and regulatory framework

Singapore’s regulatory environment is known for its transparency and predictability. Entrepreneurs and investors can make informed decisions with confidence, knowing that the rules and regulations are well-defined and consistently applied. This predictability reduces uncertainty and risk for startups, making it easier to plan for the future.

Singapore also offers a competitive tax regime that benefits startups. The country has a low corporate tax rate, and there are various tax incentives and exemptions available for businesses. Startups often enjoy tax benefits during their initial years of operation, allowing them to reinvest their profits for growth. 

Furthermore, intellectual property (IP) is a critical asset for many startups, especially those in technology and innovation-driven industries. Singapore has robust IP protection laws and a legal framework that safeguards the rights of businesses and inventors. This protection encourages innovation and helps startups secure their competitive advantage. 

Singapore has plenty of other business-friendly regulations. The government actively strives to reduce bureaucracy and streamline regulatory processes, making it easier to set up and operate a business in Singapore compared to many other countries. 

Singapore tailors its regulatory support to specific industries and sectors. For instance, the Monetary Authority of Singapore (MAS) provides regulatory sandboxes for fintech startups, allowing them to test innovative financial products and services in a controlled environment before full compliance with regulations is required. 

Singapore has also introduced several incentives aimed at fostering innovation. The Research & Development (R&D) Tax Incentive, for example, encourages companies to invest in R&D activities by providing tax deductions and cash grants. Startups engaged in cutting-edge technology and research can benefit significantly from such incentives. 

For startups that require international talent, Singapore’s immigration policies are conducive. The Employment Pass (EP) and the S Pass are work visas designed to attract foreign professionals and skilled workers. This flexibility in hiring talent from around the world helps startups access a diverse and specialised workforce. 

3. Strategic location in Asia

Singapore’s geographical location at the crossroads of Asia makes it a natural gateway to one of the world’s most dynamic and rapidly growing regions. The city-state serves as a bridge between East and West, providing startups with unparalleled access to Asian markets. 

Startups based in Singapore are just a short flight away from some of the largest and fastest-growing markets in the world. Countries like China, India, Indonesia, Malaysia and Thailand are within a few hours’ reach. This proximity simplifies market entry and expansion efforts, reducing time and costs associated with international travel. 

Many multinational corporations such as TikTok, Twitter, and Zoom have chosen Singapore as their regional headquarters for Asia. This concentration of global players creates a vibrant business ecosystem and opens up opportunities for startups to engage with these companies, form partnerships, and access potential clients or investors. 

Singapore also has a network of free trade agreements (FTAs) with multiple countries and regions. This network simplifies trade and investment for startups and ensures that they can navigate complex international regulations and tariffs more easily. Singapore’s FTA with the Association of Southeast Asian Nations (ASEAN) is particularly valuable for startups looking to tap into this burgeoning market. 

4. A vibrant startup ecosystem

Singapore is home to a plethora of incubators and accelerators, both public and private. These organisations provide startups with essential resources, mentorship, funding, and access to networks. 

Singapore’s startup ecosystem also benefits from a well-developed venture capital (VC) and angel investor community. VC firms in the region actively seek promising startups to invest in, and there is a growing interest in funding innovative ventures. Startups can tap into a variety of funding options, including early-stage seed funding and later-stage growth capital. 

The government also plays an active role in nurturing the startup ecosystem. Initiatives like the Startup SG and grants from organisations like Enterprise Singapore provide financial support and resources to startups. These initiatives encourage entrepreneurship and innovation, driving the growth of the startup community. 

In addition, Singapore hosts a multitude of networking events, conferences, and meetups catering to different industries and interests. These gatherings provide startups with opportunities to connect with potential partners, investors, customers and mentors. Afterall, building a robust network is crucial for a startup’s growth. 

The city-state also boasts a thriving co-working space culture. These shared workspaces offer flexibility and cost-effectiveness for startups in their early stages. They also foster collaboration and networking opportunities as startups share spaces with other like-minded entrepreneurs and businesses. 

Many successful startups went local first before going global

Several startups have leveraged Singapore as their launchpad to global success, reinforcing its status as an ideal destination for entrepreneurs. 

Shopee, part of the Sea Group, entered the e-commerce arena in Singapore in 2015. Despite being a latecomer – Lazada and Tokopedia launched three and six years ahead respectively – Shopee rapidly caught up with these Alibaba-backed incumbents. 

With the backing of a strong parent company and a solid foundation in Singapore, Shopee expanded to multiple countries across Southeast Asia and even ventured into other markets like Taiwan and Brazil. 

Similarly, gaming hardware manufacturing company Razer was also founded in Singapore back in 2015. Over the years, it has grown to become a recognised brand in the global gaming industry, with a strong presence in key markets such as North America, Europe, and Asia.

In 2021, the company set up its Southeast Asia headquarters in Singapore, housing its corporate office, RazerStore, and RazerCafe, all under one roof.

Meanwhile, another gaming company – local gaming chair brand Secretlab – has put Singapore on the global map since its inception in 2014. 

Secretlab manufactures more than one million chairs a year. Without any physical stores, it has made its mark in over 50 countries, with North America and the European Union being its largest markets. 

The success stories of these companies further highlight the opportunities available to startups in Singapore. 

As the global startup landscape continues to evolve, Singapore’s role as a springboard for international expansion is likely to strengthen, solidifying its status as a premier destination for startups. 

Entrepreneurs looking to take their ideas to the next level and expand globally would be wise to consider Singapore as the ideal launchpad for their ventures. With its unique combination of advantages. Singapore provides a solid foundation for startups to thrive and prosper on a global scale. 

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ANEXT Bank, a Singapore-based digital bank regulated by MAS, empowers startups with easy and accessible financing to fuel their business growth and expansion.

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