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Best Place in the World for Social Entrepreneurs

Best Place in the World for Social Entrepreneurs. Singapore lah ?. James Norris james@jamesnorris.com www.jamesnorris.org. Where is the best place in the world for a social entrepreneur to live and build a social enterprise?. Global Cities Index. New York City 6.22 London 5.86

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Best Place in the World for Social Entrepreneurs

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  1. Best Place in the World for Social Entrepreneurs Singapore lah? James Norris james@jamesnorris.com www.jamesnorris.org

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

  3. Global Cities Index • New York City 6.22 • London 5.86 • Tokyo 5.42 • Paris 5.35 • Hong Kong 4.14 • Chicago 3.94 • Los Angeles 3.90 • Singapore 3.45 • Sydney 3.44 • Seoul 3.40 • Brussels 3.29 • San Francisco 3.26 • Washington 3.25 • Toronto 3.13 • Beijing 3.12 • Berlin 3.03 • Madrid 3.02 • Vienna 2.96 • Boston 2.78 • Frankfurt 2.78

  4. Alpha Cities • 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

  5. Rules of Engagement • Defend your assertions with data or logical conjecture • “Criticize by creating” an alternative answer/solution (paraphrasing Michelangelo) • Be nice

  6. Related Questions • 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?

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

  8. Success Factors • Access to talent • Access to funding • Access to markets • Good business climate • Supportive culture

  9. Answers?

  10. The Case for Singapore

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

  12. 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

  13. 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

  14. 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

  15. 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 dedicated 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 read by people in over 650 cities • Five million residents and 9.7 million annual international travelers concentrated in a very densely populated space (with an amazing transportation system) creates a unique melting pot of ideas

  16. Downsides • 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)

  17. 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

  18. James Norris james@jamesnorris.com www.jamesnorris.org

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