Best Place in the World for Social Entrepreneurs Singapore as a Social Silicon Valley? Cross-Border Innovation & Entrepreneurship Global Symposium 4 December 2012 James Norris

Where is the best place in the world for a social entrepreneur to live and build a social enterprise?

 Where is the best place for a social entrepreneur in 2020?  Where is the best place for a bootstrapping social entrepreneur?  Where is the best place for a well-financed social entrepreneur?  Where is the best place for a newbie social entrepreneur?  Where is the best place for a seasoned social entrepreneur?  Where is the best place for a social entrepreneur in 2020?  Where is the best place for a bootstrapping social entrepreneur?  Where is the best place for a well-financed social entrepreneur?  Where is the best place for a newbie social entrepreneur?  Where is the best place for a seasoned social entrepreneur? Related Questions

 How do you reach your customers or beneficiaries?  Do you distribute online or through physical channels?  Are there relevant industry clusters anywhere?  Etc.  How do you reach your customers or beneficiaries?  Do you distribute online or through physical channels?  Are there relevant industry clusters anywhere?  Etc. Specific Model Questions

What is needed to help Singapore grow into the world’s first Social Silicon Valley?

Global Cities Index 1.New York City London Tokyo Paris Hong Kong Chicago Los Angeles Singapore Sydney Seoul New York City London Tokyo Paris Hong Kong Chicago Los Angeles Singapore Sydney Seoul Brussels San Francisco Washington Toronto Beijing Berlin Madrid Vienna Boston Frankfurt Brussels San Francisco Washington Toronto Beijing Berlin Madrid Vienna Boston Frankfurt2.78

 Alpha++ world cities:  London, New York  Alpha+ world cities:  Beijing, Hong Kong, Milan, Paris, Shanghai, Singapore, Sydney, Tokyo  Alpha world cities:  Brussels, Buenos Aires, Chicago, Kuala Lumpur, Madrid, Moscow, Mumbai, Seoul, Toronto  Alpha− world cities:  Amsterdam, Athens, Auckland, Bangkok, Budapest, Caracas, Dublin, Frankfurt, Istanbul, Jakarta, Lisbon, Los Angeles, Mexico City, Prague, Rome, Santiago, São Paulo, Stockholm, Taipei, Vienna, Warsaw, Zurich  Alpha++ world cities:  London, New York  Alpha+ world cities:  Beijing, Hong Kong, Milan, Paris, Shanghai, Singapore, Sydney, Tokyo  Alpha world cities:  Brussels, Buenos Aires, Chicago, Kuala Lumpur, Madrid, Moscow, Mumbai, Seoul, Toronto  Alpha− world cities:  Amsterdam, Athens, Auckland, Bangkok, Budapest, Caracas, Dublin, Frankfurt, Istanbul, Jakarta, Lisbon, Los Angeles, Mexico City, Prague, Rome, Santiago, São Paulo, Stockholm, Taipei, Vienna, Warsaw, Zurich Alpha Cities

Success Factors 1.Access to talent 2.Access to funding 3.Access to markets 4.Good business climate 5.Supportive culture 1.Access to talent 2.Access to funding 3.Access to markets 4.Good business climate 5.Supportive culture

Answers?

The Case for Singapore

Access to Talent  Very high standard of living which draws talent in  Liberal immigration laws for foreign talent  #1 labor force in world  Very high standard of living which draws talent in  Liberal immigration laws for foreign talent  #1 labor force in world

Access to Funding  S$1M social innovation challenge  S$588K social enterprise competition  Asia’s first social stock exchange  Growing venture philanthropy community  S$300K grants for social entrepreneurs focusing on employing disadvantaged Singaporeans  S$200K grants for enterprises focused on volunteerism or philanthropy  S$50K grants for young entrepreneurs under 26  #1 in Asia for philanthropy and #1 in world for concentration of millionaires  S$1M social innovation challenge  S$588K social enterprise competition  Asia’s first social stock exchange  Growing venture philanthropy community  S$300K grants for social entrepreneurs focusing on employing disadvantaged Singaporeans  S$200K grants for enterprises focused on volunteerism or philanthropy  S$50K grants for young entrepreneurs under 26  #1 in Asia for philanthropy and #1 in world for concentration of millionaires

Access to Markets  Geographically situated between three of the largest markets in the world: China, India, and Indonesia  Airport rated #2 in world with multiple discount airlines flying the region  Geographically situated between three of the largest markets in the world: China, India, and Indonesia  Airport rated #2 in world with multiple discount airlines flying the region

Good Business Climate  #1 place in world to do business  80% of population is English-literate and much of the other 20% can speak at least the basics  Very low corporate income taxes and zero tax on first S$100,000 for first three years  No capital gains taxes  Tied for #1 for lack of corruption  Effective government bodies work to support enterprise  #1 at protection of intellectual property  #1 place in world to do business  80% of population is English-literate and much of the other 20% can speak at least the basics  Very low corporate income taxes and zero tax on first S$100,000 for first three years  No capital gains taxes  Tied for #1 for lack of corruption  Effective government bodies work to support enterprise  #1 at protection of intellectual property

Supportive Culture  Approximately 150 existing social enterprises  Online community-edited directory for the social sector (“a Wikipedia for people who care”)  Dedicated social enterprise association  Multiple social entrepreneur co-working spaces being built  Multiple dedicated academic institutions  Established degree program in social entrepreneurship at polytechnic level  Widely circulated sector-focused publication  Five million residents and 9.7 million annual international travelers concentrated in a very densely populated space creates a unique melting pot of ideas  Approximately 150 existing social enterprises  Online community-edited directory for the social sector (“a Wikipedia for people who care”)  Dedicated social enterprise association  Multiple social entrepreneur co-working spaces being built  Multiple dedicated academic institutions  Established degree program in social entrepreneurship at polytechnic level  Widely circulated sector-focused publication  Five million residents and 9.7 million annual international travelers concentrated in a very densely populated space creates a unique melting pot of ideas

Downsides  Experienced talent is very hard to secure  Very small domestic market of 5 million  Financing for small to mid-sized social enterprises may currently be difficult past pre-seed stage, especially until the Impact Investment Exchange opens and the venture philanthropy community grows  Very risk-averse society  Local Singaporeans are effectively indifferent to social entrepreneurs (only 12% have heard of the term)  Experienced talent is very hard to secure  Very small domestic market of 5 million  Financing for small to mid-sized social enterprises may currently be difficult past pre-seed stage, especially until the Impact Investment Exchange opens and the venture philanthropy community grows  Very risk-averse society  Local Singaporeans are effectively indifferent to social entrepreneurs (only 12% have heard of the term)

Population Gains – 2010 to 2020  0 million more people in Europe  4 million more people in Oceania  31 million more people in North America  57 million more people Latin American  243 million more people in Africa  429 million more people in Asia  0 million more people in Europe  4 million more people in Oceania  31 million more people in North America  57 million more people Latin American  243 million more people in Africa  429 million more people in Asia

James Norris James Norris