The entrepreneurial revolution is taking over every corner of world as we see a spike in startup activity from Silicon Valley to Europe to Africa and even third-world countries. In its recently published article titled ‘A Look into Regional and Global Startup Trends’, Richmond Corporate Advisory Pte. Ltd. (www.rbcrca.com.sg), leading Singapore company incorporation service provider, explores the current trends that startups are adopting.

Taking a good look at the predictions for global and regional industries as well as the outlook for Singapore’s startup ecosystem, entrepreneurs can look forward to a lot of adapting, innovating, and interacting. Keeping up with these changes is instrumental for startups to engineer their next steps, develop new strategies and remain competitive.

Global trends
Many startups have given birth to game-changing, innovative products and services that are changing the competitive landscape across different industries.

Uber is an excellent example of disruptive innovation. The transportation company responsible for the mobile application connecting riders to drivers shook the industry. “The taxi industry has been ripe for disruption for decades. But only technology has allowed it to really kick in,” said Travis Kalanick, chief executive officer of Uber, in an article published by Bloomberg.

Then there is Airbnb which connects users seeking for accommodation to those who can provide the service and Alibaba which is largest online retailer in the world—two of the many successful market-making companies redefining the way buyers and sellers interact through technology.

The wearable technology industry will see a significant growth as consumers embrace wearable devices. In the United States alone, an estimated 39.5 million users who are aged 18 years and above used smartwatches like Pebble, activity trackers like Fitbit, and other wearable technology in 2015. This year, eMarketer predicts that wearable technology usage will increase sixty percent.

With more individuals integrating technology in their household, information breach can be a cause for concern. As such, more consumers will seek for robust privacy protection services. A potential challenge for emerging startups tapping this need will be handling all clients’ important information without being compromised by other entities.

Wearables and information security are just some of the trends that we can expect to pick up this year. Other technology trends for startups worldwide based on CIO’s predictions include voice-based OSes and Internet of Things (IoT) devices, counterterrorism technologies, cyber security services, financial technology, digital health, digital manufacturing, autonomous cars, and space exploration.


Asian startups forging ahead
The markets in Asia are growing faster than the rest of the world and the startup ecosystem in the region continues to flourish. Tech in Asia estimated that startups in Southeast Asia received US$1.61 billion in funding from various angel investors and venture capitalists in 2015. This was a 43% spike from the total startup funding in 2014.

E-commerce has shifted the selling and purchasing behavior of consumers all over the world. In the midst of global e-commerce businesses, local startups in Asia are also thriving including Taobao in China, Flipkart in India, Rakuten in Japan, and Lazada operating in Southeast Asia.

Analysts foresee e-commerce startups offering both improved and new features to its consumers including price comparison, cash-back sites, coupon sites and affiliate marketing solutions. A more efficient and in-house delivery fleet for e-commerce giants in the region is also foreseen to ease industry-wide capacity issues and capture the anticipated record-breaking transaction volume.

Vibrant Singapore startup scene
The ease of Singapore company registration is one of the many reasons why many local and global startups set up shop in the city-state. The vibrant startup scene in Singapore ranked 10th in Compass’ 2015 Global Startup Ecosystem Ranking report.

Many new doors have been opening for startup entrepreneurs and small business owners in Singapore. The science and technology industry is ripe for innovation as Singapore strives to be the world’s first Smart Nation. The government pledged financial support that is worth S$19 billion for science and technology research funding over the next five years under the Research, Innovation and Enterprise (RIE) 2020 roadmap. This prioritizes four domains: advanced manufacturing and engineering, health and biomedical sciences, services and digital economy, and urban solutions and sustainability.

Learn more about the global, regional and Singapore startup trends here:
http://www.rbcrca.com.sg/corporate-management/global-and-regional-startup-trends


About Richmond Corporate Advisory Pte. Ltd.:
Richmond Corporate Advisory Pte. Ltd. specializes in providing expert Singapore company registration and support services including accounting, secretarial, bookkeeping, and taxation services to entrepreneurs and corporate entities looking to establish a business presence in Singapore. Visit http://www.rbcrca.com.sg to learn more.