Singapore must develop a “pull through” strategy to pull its SMEs onto the world stage. SMEs employ 80 per cent of the workforce but contribute only 25 per cent to GDP.
First is the mega merger between two urban planning entities under JTC Corporation and Temasek Holdings. JTC’s Ascendas and Jurong International will merge with Temasek’s Surbana and Singbridge to create what is likely to be one of the world’s largest integrated entities for urban planning and development.
Then there is the joint venture between Singapore Exchange (SGX) and venture capital firm Clearbridge Accelerator (CBA) to create the world’s first equity- based crowdfunding platform in Asia.