Singapore tops talent metric of global startup ecosystem ranking
Singapore has overtaken US’s Silicon Valley to top the talent metric of a global startup ecosystem ranking, which was based on a survey of 10,000 startup founders across more than 100 cities.
(Source: Startup Genome)Singapore (VNA) - Singapore has overtaken US’s Silicon Valley to top the talent metric of a global startup ecosystem ranking, which was based on a survey of 10,000 startup founders across more than 100 cities.
The Global Startup Ecosystem Report and Ranking 2017 by Startup Genome showed that Singapore obtained the position for its strong performance in access to quality talent and cost.
In terms of experience levels, 80 percent of Singaporean talents were experienced software engineers and 74 percent were growth employees having at least two years of prior startup experience, compared to the respective global averages of 72 and 60 percent.
The average salary of software engineers in Singapore, at 35,000 USD, was well below the global average of 49,000 USD, meaning lower costs for businesses.
Early-stage funding per startup in Singapore averaged 276,000 USD, compared to the global average of 252,000 USD, while startup founders based in the country were also the youngest in the world, with a median age of 28.
Overall, Singapore dropped two places from 10th to 12th compared to the 2015 ranking.
The Startup Genome survey assessed the startup ecosystems in 50 countries, based on overall performance, funding, market reach, talent and startup experience.
Silicon Valley remained the dominant global ecosystem, followed by New York and London. The US tech hub took the lead in all metrics of the report except talent, where it was surpassed by Singapore.-VNA
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