Why start another tech company in Singapore?
There are several factors to consider before making that call.
First is to determine if there’s a demand potential in the core technology, which you plan to develop, across markets and product opportunities. Then, identify the competition or other companies offering similar solutions. In the era of mergers and acquisition, considering the likelihood of existing companies licensing the technology is also important.
Also, look for available avenues for raising funds and grow the business. If likely investors are identified, gauge the level of their commitment and involvement.
Finally, experience, expertise, and enterprise nature of the start-up’s executive team is the core determining factor in success of a tech start-up.
Key Considerations for a Technology Company in Singapore
Now that you have decided to be a tech start-up in Singapore, comes the minute-details and preparation of the business blue-print. Following questions will aid in that:
What are the risks associated with this start-up? Does the technology have clearly defined applications and a definable market?
Will the invention be a disruptive technological innovation? If not, then it fits into which category?
Who will own the intellectual property (IP) rights?
How soon the first commercial product can hit the market?
What role will the founders (if more than one) play in the existing set-up, as well as in the long run?
Whether the start-up will be a small yet sustainable business, grow as a company, will position itself for acquisition, or will go public?
What will be the initial valuation of the company and will private investments be needed for future growth?
When you are ready with all the answers, follow the below steps diligently.
Read more on how to register a tech startup company in Singapore at Singapore Company Incorporation website.
