TECHINASIA: Stripe may be making its way to the Singapore market, if certain reports from local entrepreneurs are accurate. The US-based company that provides web and mobile payment methods to online businesses has seemingly been testing the waters in the area, where competing service Braintree has already established a presence. (more…)
E27.CO: It’s a great time to be an entrepreneur in Singapore. Never in the history of our little red dot has there been more buzz, more excitement, more life and more resources channeled towards technological innovation. Singapore has become a hub in this region and a real player on a world stage once dominated by the great industrial economies of the world like Japan and America.
FORBES.COM: Lee Kuan Yew, the first prime minister of Singapore, died last week at age 91. Almost every obituary has remarked on the radical transition his leadership heralded. As John Fund wrote at National Review: “By embracing free trade, capital formation, vigorous meritocratic education, low taxes, and a reliable judicial system, Lee raised the per capita income of his country from $500 a year to some $52,000 a year today. That’s 50 percent higher than that of Britain, the colonial power that ruled Singapore for 150 years. Its average annual growth rate has averaged 7 percent since the 1970s”.
TECHINASIA: Venture capital firms have entered Singapore in droves, which means internet startups here can look forward to a wider variety of funding options. Here is a list of venture capital firms with a presence in Singapore that are actively investing in startups in the series A rounds and above. It includes funds that are supported by the Singapore government through the NRF TIS scheme and the ESVF initiative. (more…)
TECHINASIA: Facebook woke up the internet industry when it announced that its popular Messenger app, one of the world’s largest chat apps with 600 million active users, will open up to third-party developers. The move emulates the recipe that brought Asian chat apps Line and WeChat into prominence as platform businesses. Announced on the same day (though overshadowed) was the news about Businesses on Messenger, an upcoming feature on the app that allows users to chat with businesses on customer support matters. Singapore startup Zopim, acquired last year by customer support software company Zendesk for US$30 million, will power the feature. (more…)
DEALSTREETASIA: Russia’s economic slump is set to boost the fledgling financial services technology (Fintech) startup ecosystem in Singapore and South East Asia. Moscow-based venture capital firm Life.SREDA, that focuses exclusively on investments in Fintech mobile and internet projects, is pivoting to Asia, and moving its corporate headquarters to Singapore, executives aware of the developments told DEALSTREETASIA. (more…)
TECHINASIA: Last week, the Singapore government issued new laws that will allow drivers to receive payments for carpools. The statute was completed on Monday, March 2, and reported by the Straits Times on Friday. According to the statute, car owners can accept monetary compensation for driving passengers, provided the driver does not accept hails on the street or in a parking lot. In addition, payment cannot exceed the cost of taking the passenger to his or her destination, which must be agreed upon before the ride begins. Drivers are also prohibited from making more than two rides a day.