Singapore’s Silicon Valley: Block 71

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Block 71 companiesAn abandoned factory building in Singapore’s Buona Vista district has become a new breeding ground for IT start-up firms and entrepreneurs due to a government-supported initiative to provide a one-stop office and incubation space for newly-launched innovative and creative companies.

Block 71, an old and scrappy, seven-storey industrial building with bare concrete walls and low rents, has developed into an epicenter of Singapore’s start-up ecosystem with some sort of Silicon Valley vibrancy. To date, more than 180 companies comprising start-ups, incubators and investors have opened offices in the building, whose layout provides a lot of co-working space in an open-door surrounding with shared lunch facilities and bathrooms.

In terms of rental, it would probably be difficult to find a place with cheaper rent than Block 71 in Singapore. An office desk can be rented for as much as $100 a month.

The start-up companies have formed clusters, e.g. with Internet entrepreneurs using the services of the IT network provider next door, and software developers just visiting the adjacent fund raising company with a new business idea. The flagship co-working space where almost everyone starts is called Plug-In@Blk71.

Block 71 is also close to key research institutes and universities such as the National University of Singapore, Singapore University of Technology and Design and the Institute for Infocomm Research.

Support for Block 71 comes from Singapore’s Media Development Authority, NUS Enterprise – the national university’s entrepreneurship center -, and from SingTel Innov8, Singapore Telecom’s venture capital fund.

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Reading Time: 2 minutes

An abandoned factory building in Singapore’s Buona Vista district has become a new breeding ground for IT start-up firms and entrepreneurs due to a government-supported initiative to provide a one-stop office and incubation space for newly-launched innovative and creative companies.

Reading Time: 2 minutes

Block 71 companiesAn abandoned factory building in Singapore’s Buona Vista district has become a new breeding ground for IT start-up firms and entrepreneurs due to a government-supported initiative to provide a one-stop office and incubation space for newly-launched innovative and creative companies.

Block 71, an old and scrappy, seven-storey industrial building with bare concrete walls and low rents, has developed into an epicenter of Singapore’s start-up ecosystem with some sort of Silicon Valley vibrancy. To date, more than 180 companies comprising start-ups, incubators and investors have opened offices in the building, whose layout provides a lot of co-working space in an open-door surrounding with shared lunch facilities and bathrooms.

In terms of rental, it would probably be difficult to find a place with cheaper rent than Block 71 in Singapore. An office desk can be rented for as much as $100 a month.

The start-up companies have formed clusters, e.g. with Internet entrepreneurs using the services of the IT network provider next door, and software developers just visiting the adjacent fund raising company with a new business idea. The flagship co-working space where almost everyone starts is called Plug-In@Blk71.

Block 71 is also close to key research institutes and universities such as the National University of Singapore, Singapore University of Technology and Design and the Institute for Infocomm Research.

Support for Block 71 comes from Singapore’s Media Development Authority, NUS Enterprise – the national university’s entrepreneurship center -, and from SingTel Innov8, Singapore Telecom’s venture capital fund.

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