Silicon Valley of the U.S. has been dubbed as a ground of tech innovation, in western movies, tech conventions, and others. However, with trade wars between US and China, tech experts believe that soon a new epicenter of tech hub may emerge. Reports and surveys cite that Singapore is on the verge of becoming the next Silicon Valley.
Today, Singapore is emerging to be the new home to multinational corporations (MNCs), small, medium enterprises (SMEs), startups, and companies that are driven by technology. According to last year’s KPMG survey of industry insiders, Singapore had taken top spot as a potential world-leading technology hub.
The government is also working to build an artificial intelligence (AI) hub in the country by developing a dedicated data science consortium. It also launched the Singapore Blockchain Innovation Programme (SBIP), intending to help companies commercialize blockchain technology.
This year, the German vertical farming venture, &ever, will open a plant and R&D center in Singapore, with plans to produce an annual 500 tons of vegetables and herbs. Even Agency for Science, Technology and Research, has agreed to establish a Food Tech Innovation Center with state-owned investment group Temasek Holdings.