When people think of Singapore, they probably think of a bustling financial center. What many people do not realize, however, is that Singapore is also developing a thriving software ecosystem that makes it a perfect place for companies large and small to set up software development centers.
Underpinning this quickly developing ecosystem are top notch colleges and universities that are magnets for top students throughout Asia and produce a steady stream of talent for local companies. NUS and NTU, the two largest universities in Singapore, are ranked among the best in Asia, and the world. Companies such as Google, HP, and eBay are among the tech companies that have tapped into this talent, fueling the rapid expansion of the ecosystem.
Beyond talent, the same reasons that make Singapore a bustling financial center also make it an easy place to set up software development centers. For starters, there are familiar laws and order. It is rated one of the easiest countries to operate in by the World Bank. Infrastructure is unmatched, with wifi and fiber-optics set-up throughout the city. Internet penetration is over 99%.
Finally, Singapore is simply much more cost efficient than the US. Starting salaries for engineers are 30-40% less than they are in the US. In addition, various government agencies including EDB and IDA provide incentives in the way of grants to companies that conduct R&D and inject growth into the Singapore economy. While other countries may have even lower operating costs, it is difficult to match the quality to price ratio offered by Singapore.
For all these reasons, when Tremor Video was looking to scale our development team over 2 years ago, we looked to Singapore. We looked for a partner with strong connections in and local knowledge of the region that can guide us in this process. We found such a partner in EDBI, a strategic global investor, and the corporate investment arm of EDB. EDBI took an equity stake in Tremor Video (ScanScout at the time), and has been an invaluable resource in helping to provide strategic as well as operational advice. EDBI’s industry knowledge and wide network gave us access to additional non-dilutive funding sources including grants from EDB and IDA. EDBI has also been instrumental in our recruitment efforts and in helping us integrate into the local ecosystem by introducing us to key business leaders in our industry and beyond. Today our team in Singapore is over a dozen strong and growing, and has become integral to the development of our VideoHub platform. For us, this could not have worked out any better. If you are looking to efficiently scale your development team, Singapore is a truly hidden gem to consider.
IDA — the Infocomm Development Authority of Singapore — has teamed up with VentureBeat to explore Singapore’s potential as an Asian launchpad in a series of posts that will culminate in a live video webinar. This post is part of that series. To read the full series and sign up for the webinar, go here.
About Tremor Video:
Tremor Video provides in-stream video advertising solutions to Fortune 1000 brand advertisers and top tier publishers. Widely regarded as the leader in online video advertising technology, the company leverages its award-winning decisioning engine, innovative video ad formats and publisher technology to deliver the campaign results and scale advertisers should expect from digital video. Tremor Video is the only video ad platform that can provide 100% brand safety by scanning and categorizing every single video stream before an ad is ever served. In addition, Tremor Video’s award-winning SE2 technology gets smarter at finding and engaging viewers with every ad served, enabling the company to welcome and encourage pay-per-engagement pricing. Founded in 2005, Tremor Video is backed by top-tier investors, including Canaan Partners, Draper Fisher Jurvetson Growth, General Catalyst, Keating Capital, Meritech Capital Partners, Time Warner Investments, and W Capital Partners.
VB’s research team is studying mobile user acquisition:
Chime in here, and we’ll share the results